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Altura Mining Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 9/22/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 22-9-2016: Altura Mining Ltd. announces a Resource Estimation report for its Pilgangoora deposit at the Pilgangoora project. Updated mineral resources and ore reserves plus drilling results incl. 24m @ 2.21% Li2O. Altura Mining Limited (ASX: AJM) is pleas | |
| Resources: | (Reserve, Prob.): 20.3Mt @ 1.06% Li2O for 215000t Li2O contained | |
| CP/QP: | [Resources]: Stephen Hyland; Bryan Bourke (Hyland Geological and Mining Consultants;Internal) | |
| ABSTRACT: | Altura Mining Limited (ASX: AJM) is pleased to report increases to both its Mineral Resource and Ore Reserve estimates for its 100% owned Pilgangoora Lithium Project together with highlights from its ongoing drilling program. The revised estimates form the basis for the company’s Definitive Feasibility Study (DFS) which is due for imminent release following both internal and external peer review. It should be noted that the revised estimates were based on a time cut-off in order to substantially underpin the DFS outcomes and planned mining operation. Drilling work is continuing at the project which is expected to lead to further increases in both the Mineral Resource and Ore Reserve estimates before the end of calendar year 2016. Altura’s Pilgangoora Lithium Project has a revised Mineral Resource estimate of 39.2 million tonnes at 1.02% Li2O and 400,000 tonnes of contained Li2O representing an increase of 10% over the previous estimate of 35.7 million tonnes at 1.05% Li2O (see ASX Release 11 February 2016). The revised Ore Reserve estimate of 20.3 million tonnes at 1.06% Li2O and 215,000 tonnes of contained Li2O also represents an increase of 10% over the previous maiden ore reserve estimate of 18.5 million tonnes at 1.07% Li2O (see ASX Release 11 April 2016). The DFS is focussed on developing a single mining operation at Pilgangoora with an annualised ore throughput rate of 1.4 – 1.5Mtpa to produce an average annual production level of 220,000 tonnes of 6% Li2O spodumene concentrate for supply to the rapidly expanding chemical market for battery feedstock production. | |
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