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ActivEX Ltd.
Summary
| Project: | Coalstoun | |
|---|---|---|
| Deposit: | Coalstoun | |
| Location: | Australia | |
| Commodities: | Copper | |
| Date: | 8/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-8-2016: ActivEX Ltd. announces a Resource Estimation report for its Coalstoun deposit at the Coalstoun project. Updated mineral resource estimate for Coalstoun supergene resource. ActivEX Limited (“ActivEX”) is pleased to announce an upgrade to the Coa | |
| Resources: | (Resource, Inf.): 6.1Mt @ 0.5% Cu for 29588t Cu contained (Supergene zone) | |
| CP/QP: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | ActivEX Limited (“ActivEX”) is pleased to announce an upgrade to the Coalstoun copper deposit supergene zone Inferred Mineral Resource estimate (JORC Code and Guidelines) to 6.1Mt @ 0.5% Cu (for 29,588t Cu contained at a 0.35% Cu cut off – Table 1). This new Mineral Resource incorporates the results from RC and diamond core drilling completed in late 2015, which targeted near surface oxidised copper mineralisation. A resource estimate using a lower cut off of 0.30% Cu in the supergene zone, resulted in an Inferred Mineral Resource estimate of 8.5Mt @ 0.44% Cu for 38,000t Cu contained (Table 2) after incorporating the 2015 drilling data. The Total Inferred Mineral Resource for Coalstoun copper deposit was not re-estimated and remains at 26.86Mt @ 0.38% Cu for 102,677t Cu contained (Table 1, see ASX announcement 31 March 2015). The 2015 drill results and resource modelling have highlighted several high priority areas thought prospective for extensions to the supergene secondary copper mineralisation to the north of the current supergene resource. These areas require drill testing. The Company is investigating near surface mineralised zones for potential open pits and is targeting extensions and high grade zones of supergene secondary copper (Figure 2) with the aim of significantly expanding and upgrading the established Inferred Resources, ActivEX acquired the Coalstoun tenement (EPM 14079 – Figure 1) from Newcrest in November 2013 with formal transfer completed in late July 2014. Initial resource estimates were completed within approximately eight months of tenement transfer using exclusively historical information. | |
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