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AVZ Minerals Ltd.
Summary
| Project: | Manono | |
|---|---|---|
| Deposit: | Manono | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Lithium-Tin-Tantalum-Iron | |
| Date: | 11/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-11-2018: AVZ Minerals Ltd. announces a Resource Estimation report for its Manono deposit at the Manono project. Updated mineral resource estimate at the project. AVZ’s Managing Director Mr Nigel Ferguson said: “I am very pleased to be able to announce | |
| Resources: | (Resource, Total): 400.4Mt @ 1.66% Li2O, 750ppm Sn, 33ppm Ta, 0.99% Fe2O3 | |
| CP/QP: | [Resources]: Ipelo Gasela (MSA Group Pty Ltd.) | |
| ABSTRACT: | AVZ’s Managing Director Mr Nigel Ferguson said: “I am very pleased to be able to announce a solid 54.1% increase in the JORC Ore Resource estimate for our 60% owned Manono Lithium Project. More importantly this includes more than a doubling of the Measured Resource category to over 93Mt following infill drilling since August 2018. This greatly increases confidence levels in the central section of the Roche Dure orebody. The overall increase in the total resources is more than ample to underpin the ongoing internal scoping studies for a potential 5Mtpa operation and follows close on the heels of our recently published, revised figures for a 2Mtpa project (October 9th announcement) which indicated very strong economic fundamentals for the Manono Lithium Project.” “Additionally, there is a significant increase in the global tin content to 300,000 tonnes and the tantalum content to over 13,200 tonnes, which is expected to provide a significant offset in the operating costs for the planned processing plant.” “With drilling at Roche Dure currently winding up for the year, these resource figures are expected to rise further in 2019 as data continues to come in from final drill holes completed (Figure 1). We are also waiting with interest for the results of a 6 hole, wide spaced, reconnaissance drilling programme at Carriere de L’Este in the northern Manono Sector which will be reported on early in 2019.” “With Manono now confirmed as the world’s largest lithium deposit and drill results from the last quarter of 2018 still pending, we are confident that the Manono Project will continue to grow and potentially become a world leading source of lithium.” AVZ Minerals Ltd (ASX: AVZ) is pleased to advise that it has confirmed the increased potential of its 60% owned Manono Lithium-Tin-Tantalum Project in the DRC’s Tanganyika Province to become a world leader in the global lithium market after announcing a significant Resource increase in the current Mineral Resource update. | |
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