On 21 August 2011 when the prospectus of Asaplus Resources Limited was issued, the Silverstone Iron Ore Project had an Inferred Resource of 1,527,500 tonnes at an average grade of 45.42% Fe. Work carried in the final quarter of 2012 and the first quarter of 2013 consisted of diamond drilling in the areas known as Ore Body I and Ore Body IV. The work also included a re-interpretation of the controls of the iron ore mineralisation of the region.
With additional data available, a new resource estimate was conducted. The main changes in the resources are from Ore Body I, in which additional ore was discovered to the east. Additionally, a “new” Ore Body II (which is really an extension of Ore Body I to the north) has added significant amounts to the resources. Ore Body IV has also seen an increase in resources due to the additional drilling carried out.
Body III has also increased in size, not due to any additional drilling, but through a re-interpretation of the previous data. No work was carried out on Ore Body II, and so the resource figures remain the same as before. Currently there is drilling being conducted on Ore Body VI, which is an area to the south-west of Ore Body I. No resource can be calculated at this time in relation to drilling data from work on Ore Body VI because assay data is not yet available.
The map set out herein shows the locations of the ore bodies and potential ore bodies within the tenement area of the Silverstone Project.