NXM – Nexus Minerals | Aussie Stock Forums

Re: HEM – Hemisphere Resources

Hi Doun, have got the low down on HEM. Hope it’s not too late! :D:D

The tenement area spans the thrust fault dividing the Kibaran Orogenic belt, and is prospective for a range of commodities and styles of mineralisation. The Tanzanian Geological Survey has identified mineral occurrences within the tenement boundary, and also mineral occurrences along strike from the tenement boundary in similar geological settings.
The styles of mineralisation being explored at Katamatoma are nickel deposits associated with ultramafic intrusives, and stratiform copper-cobalt deposits within sedimentary sequences. The reprocessed aeromagnetics show potential anomalies which could have associated mineralisation, however, further work is required to generate ground targets for further evaluation
Initial reprocessing and interpretation has reduced the tenement footprint to a number of target areas for further evaluation. The Company now intends to map the surface mineralogy using airborne hyperspectral surveys to identify areas of alteration related to potential base metal mineralisation. Areas of mineral alteration or accumulation will be ground-truthed and geochemically sampled to assess the potential for base metal anomalies. Additional high resolution aeromagnetics will also be flown over selected areas to assist with target generation over any identified surface anomaly. Areas of potential alteration will be field-checked, sampled as required, with the eventual aim of generating targets for drill testing.

Hancock Range is located within the Hope Downs (Hancock / RIO) and Mining Area C (BHP Billiton) region.
A comprehensive metallurgical test work program was completed in July 2012 using diamond core samples collected during 2011. Drilling totalled 893 metres in 4 holes, with one hole drilled to 443 metres and the remaining 3 drilled to 150 metres. The deep hole sampled the entire sequence of Joffre Member of the Brockman Iron Formation, whereas the 3 shallow holes sampled upper units of the Joffre Member.
Initial metallurgical testwork reported in June 2011 was based on spot samples taken at 10 metre intervals downhole. The second comprehensive test work program started in March 2012 and involved halving and quartering the entire core length and processing it in 10 metre composites.

The test work demonstrated that the Hancock Range BIF had the following characteristics:
● The Hancock Range BIF responded well to upgrading through coarse cobbing;
● Average concentrate grades exceeded 68% Fe, which is competitive and compares well to other magnetite projects
● Despite competitive concentrate grades, only 40% average iron recovery was achieved.
● Consistent with typical Pilbara BIF, mineralogy has indicated that a significant portion of the iron that was not recovered to the magnetite concentrate is present as non-magnetic, ultra-fine grained hematite and other accessory iron bearing minerals.
● In addition to low iron recovery, the average mass recovery (yield) from the Hancock Range BIF averaged 17% (that is recovering 17 tonnes of magnetite from 100 tonnes of ore processed), which is considered low and difficult to commercialise.

Mount Goldsworthy
Mount Goldsworthy is located 100km east of Port Hedland and 5km north-east of BHP Billiton’s abandoned Mount Goldsworthy mine site.
A full review of the Mount Goldsworthy tenement has now been completed. The review has included work done by a number of previous owners and the cumulative results from Hemisphere’s own aeromagnetic, ground gravity modelling, ground-truthing and field mapping conducted during 2011.
Geophysical modelling initially generated a number of anomalies for further evaluation at Goldsworthy. However, cross referencing previous exploration work with recent field mapping and ground-truthing has reduced the prospect potential of these anomalies to the extent that these targets have now been discounted.

In summary, Mount Goldsworthy sucks, Hancock Range stinks. So essentially they have all their eggs in the newly acquired Tanzanian project, of which there is little detailed information.
There is nothing in their project package to spark a SP increase, unless they pull something new out of their hat.
Nothing but long term potential here.