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Altura Mining Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 1/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 30-1-2017: Altura Mining Ltd. announces a Resource Estimation report for its Pilgangoora deposit at the Pilgangoora project. Mineral Resource update and 48% Ore Reserve update at Pilgangoora . Altura Mining Limited (Altura, ASX:AJM) is pleased to report i | |
| Resources: | (Reserve, Prob): 30.1Mt @ 1.04% Li2O, 2.16% Fe2O3 for 313000t Li contained at project | |
| CP/QP: | [Resources]: Stephen Barber (Not stated) | |
| ABSTRACT: | Altura Mining Limited (Altura, ASX:AJM) is pleased to report increases to both its Mineral Resource and Ore Reserve estimates for its 100% owned Pilgangoora Lithium Project. This increase relates to additional deep drill hole data and improved confidence in the drilling and sampling data following the completion of a closely spaced infill drilling program from June until October 2016. The Mineral Resource and Ore Reserve estimation work was completed by Cube Consulting Pty Ltd (Cube), Perth, Western Australia. Altura’s 100% owned Pilgangoora Lithium has a revised Indicated Mineral Resource estimate of 40.3 million tonnes at 1.00% Li2O and 403,000 tonnes of contained Li2O representing an increase to the previous estimate of 30.6 million tonnes at 1.04% Li2O (see ASX release 22 September 2016).The revised Inferred Mineral Resource estimate of 2.3 million tonnes at 0.90% Li2O is lower than the previously reported 8.6 million tonnes at 0.95% Li2O (see ASX Release 22 September 2016) due to the improved confidence in the data following the recent infill drilling program. The revised Ore Reserve estimate of 30.1 million tonnes at 1.04% Li2O and 313,000 tonnes of contained Li2O represents an increase of 48% over the previous ore reserve estimate of 20.3 million tonnes at 1.06% Li2O (see ASX release 22 September 2016). The increase in the Indicated Mineral Resource is a result of upgrading material previously classified as being part of the Inferred Mineral Resource plus the addition of new Indicated Mineral Resource material. This improved confidence has resulted in a conversion of 75% of the Indicated Mineral Resource estimate to Ore Reserves. Altura announced as part of its Definitive Feasibility Study or DFS (see ASX release 26 September 2016) that it is focussed on developing a single mining operation at Pilgangoora with an annualised ore throughput rate of 1.54 Mtpa to produce an average annual production level of 219,000 tonnes of 6% Li2O spodumene concentrate for supply to the rapidly expanding chemical market for battery feedstock. | |
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