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AVZ Minerals Ltd.
Summary
| Project: | Manono | |
|---|---|---|
| Deposit: | Manono | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Lithium-Tin-Tantalum-Iron | |
| Date: | 10/9/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-10-2018: AVZ Minerals Ltd. announces a Scoping Study report for its Manono deposit at the Manono project. Scoping Study results incl. pre-tax NPV of US $1.6B (10%), IRR of >90%, 20yr LOM at the project. AVZ Minerals Limited (ASX:AVZ) “AVZ” or “the Compa | |
| Resources: | (Resource, Total): 259.9Mt @ 1.63% Li2O, 844ppm Sn, 43ppm Ta2O5, 0.88% Fe | |
| CP/QP: | [Overall Report]: Micheal Cronwright (MSA Group Pty Ltd.) | |
| ABSTRACT: | AVZ Minerals Limited (ASX:AVZ) “AVZ” or “the Company” is pleased to announce the results of the Scoping Study (Study) on the Manono Lithium Project (Project) in the Democratic Republic of Congo (DRC). The independent Study was undertaken by CPC Project Design Pty Ltd (CPC) and completed in late September 2018. In addition, an independent economic model & financial analysis was undertaken and completed by Alan Dickson & Associates (ADA). Both documents utilised Measured, Indicated and Inferred Resources as the basis for completion. AVZ Minerals Managing Director, Nigel Ferguson, said that “The AVZ Minerals Board is extremely pleased with the results of the independent Studies and intends to immediately commence a Full Feasibility Study. The Studies undertaken not only demonstrate the potential for excellent economic outcomes, but also highlight the long-life, low-cost qualities typical of world-class Tier 1 assets. The Manono Lithium Project is now the largest undeveloped hard rock lithium project globally in terms of grade, mine life and expandability.” “The Manono Lithium Project is unique in many ways, with key attributes of: homogeneous deposit; low levels of deleterious elements; an extremely low strip ratio of 0.7:1 and therefore direct access to clean ore for the majority of the mining life as modelled to date. We are in no doubt of being able to achieve a superior product for end-users.” “We are confident that the project economics can be improved further, especially in the areas of transport, processing, power costs by utilising a refurbished hydro plant at Piana Mwanga and the recovery of tin as a by-product which can add considerable value to the bottom line and has not been included in any financial modelling.” | |
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