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Altona Mining Ltd.
Summary
| Project: | Cloncurry | |
|---|---|---|
| Deposit: | Bedford | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 3/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-3-2017: Altona Mining Ltd. announces a Resource Estimation report for its Bedford deposit at the Cloncurry project. Updated Mineral resource Estimate for Bedford Deposit. Altona Mining Limited (“Altona” or the “Company”) is pleased to announce a new Min | |
| Resources: | (Resource, Total): 4.8Mt @ 0.8% Cu, 0.21g/t Au for 38kt Cu, 32koz Au contained at Bedford | |
| CP/QP: | [Resources]: Frank Browning (Internal) | |
| ABSTRACT: | Altona Mining Limited (“Altona” or the “Company”) is pleased to announce a new Mineral Resource estimate for the Bedford deposit at the Company’s 100% owned Cloncurry Copper Project near Mt Isa in Queensland. Bedford is located 6 kilometres southeast of the planned Little Eva open pit mine and processing plant and lies within granted mining leases. The new resource estimate is: 4.8 million tonnes at 0.80% copper and 0.21g/t gold for 38,000 tonnes of contained copper and 32,000 ounces contained gold. The resource is reported at a 0.3% lower cut-off grade and is classified as indicated and inferred. A full tabulation is given in Tables 1 and 2. A detailed summary of the supporting data and methodology is given in Appendix 1, being Table 1 of the 2012 Edition of the JORC Code. The new Bedford Mineral Resource estimate is based on a new geological model informed by detailed surface geochemical and geological mapping. The new model was also informed by two additional diamond drillholes drilled for metallurgical samples and geotechnical studies. The Mineral Resource reports sulphide ore only and extends from 20 metres to 140 metres below surface. An oxide cap ranging from surface to depths of 20 to 30 metres is excluded from the resource estimate. The increase from the 2012 estimate resulted primarily from better understanding of continuity and geometry. The mineralised structures were able to be better defined based on mapping of surface workings and high resolution copper-in-soil sampling. An increase in tonnage also resulted from new bulk density data from diamond core as opposed to prior conservative estimates. | |
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