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Alta Zinc Ltd.
Summary
| Project: | Gorno | |
|---|---|---|
| Deposit: | Gorno | |
| Location: | Italy | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 1/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 25-1-2019: Alta Zinc Ltd. announces a Scoping Study report for its Gorno deposit at the Gorno project. Technical study confirms viability of starter project. Alta Zinc Limited (ASX:AZI) (“Alta” or “the Company”) is pleased to announce the outcomes of the | |
| Resources: | (Resource, I+I): 3.3Mt @ 4.9% Zn, 1.3 % Pb, 27.2ppm Ag at Colonna Zorzone | |
| CP/QP: | [Overall Report]: Marcello de Angelis (Internal) | |
| ABSTRACT: | Alta Zinc Limited (ASX:AZI) (“Alta” or “the Company”) is pleased to announce the outcomes of the recently completed Technical Study (“Technical Study”) of the Company’s Gorno Zinc Project (“Project”) in northern Italy. Completion of the Technical Study is a key milestone for Alta. As previously reported, Alta has completed a Technical Study for the Gorno project focused on exploiting only the accessible sulphide zones within the existing Zorzone Mineral Resource. This was carried out to a pre-feasibility study (“PFS”) level of study by independent consultants Lycopodium Minerals Pty Limited for the metallurgy, processing, surface infrastructure, and associated costs components, and AMC Consultants Pty Limited for the mining geotechnical, mining and mining costs components. While the Technical Study was conducted to a degree of accuracy consistent with a pre-feasibility study and was titled as such by its authors, given that 36% of the Mineral Resource is Inferred category and is considered determinative of the study economics the Mineral Resource is insufficient to support the estimation of ore reserves or to provide an assurance of economic development. It therefore cannot be classified as a “pre-feasibility study” for ASX reporting purposes, and Alta is unable to report a production target or financial outcomes achieved. In addition to confirming the technical viability of a Gorno Phase 1 “starter” project, the Technical Study has highlighted the potential value accretion that could be gained by increasing Gorno’s Mineral Resource from the near resource exploration targets that are described in a separate, preceding ASX announcement2 . An Environmental Impact Assessment (“EIA”) is also well advanced with no fatal flaws identified and, with the additional information on mine design, plant configuration and location available from the Technical Study, Alta has now commenced the process of renewing its existing mining licence in collaboration with the authorities. | |
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