ASX Code: TRF
Ian FinchManaging Director
Neil McKayDirector
Mark Le GrangeDirector
Allan TrenchDirector
SHARE REGISTRY
Advanced Share Registry Services110 Stirling Highway
Nedlands WA 6009
T: +61 (08) 9389 8033
F: +61 (08) 9389 7871
REGISTERED OFFICE
Level 2, 679 Murray Street
West Perth WA 6005
P: +61 (08) 9485 1040
F: +61 (08) 9485 1050
19 September 2014
Joint Venture Moves Towards Mining Start Up
Trafford Resources Limited (ASX:TRF) notes yesterday's release from IronClad Mining Limited (ASX: IFE) in which it outlines it's discussions with Arrium Limited (previously One Steel Limited) which could, if successful, lead to the commencement of mining as early as November.
A completed desk top study on enhancement of the planned Dry Magnetic Separation (DMS) process has also identified that stage one of the project "….could be expanded to between 6 and 8 million tonnes of premium (+62% Fe), low contaminant product, depending on prices and USD / AUD exchange rates - or an approximate 4 to 5 year production period."
Trafford currently holds a 26.6% equity interest in IronClad Mining and a direct 20%
interest in the Wilcherry Hill Iron ore project
Trafford also notes that IronClad's 2,187 metre manganese (Mn) drilling programme returned some excellent results such as the 5 m at 28.2% Mn from 11m to 16 m in hole 14HCRC017 at the Hercules North prospect.
IronClad is currently earning up to an 80% interest in all Manganese on the Wilcherry
Hill tenements from Trafford by expenditure of $3 million over 3 years.
Funding
The Directors of Trafford are also pleased to announce that the Company has secured a $450,000, loan after costs, for a maximum term of 20 months.
Ian Finch
Managing Director
distributed by
|