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Aurelia Metals Ltd.
Summary
| Project: | Hera | |
|---|---|---|
| Deposit: | Hera | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 6/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-6-2016: Aurelia Metals Ltd. announces a Resource Estimation report for its Hera deposit at the Hera project. Updated mineral resources and ore reserves at Hera Project. Aurelia Metals Limited (“AMI” or the “Company”) is pleased to report an update to t | |
| Resources: | (Reserve, Prob.): 979Kt @ 5.11g/t Au, 16.3g/t Ag, 2.84% Pb, 3.85% Zn | |
| CP/QP: | [Resources]: Stuart Jeffrey (Internal) | |
| ABSTRACT: | Aurelia Metals Limited (“AMI” or the “Company”) is pleased to report an update to the Mineral Resource Estimate and Ore Reserves Estimate for its 100% owned Hera gold-lead-zinc-silver Project in NSW. A review of the previous Hera Mineral Resources and Ore Reserves has been ongoing following strong positive mine to mill reconciliations for gold since July 2015. These updated Estimates include the findings of that review together with the results of a substantial infill drilling programme completed in the March 2016 quarter. The updated Mineral Resource Estimate represents an 8% increase in tonnage over the previous estimate (allowing for mining depletion) and a 10% increase in gold grade. Lead and zinc grades have increased 5% and 6% respectively over the previous Estimate. The Mineral Resource estimate has been completed in accordance with the guidelines of the JORC Code (2012 edition) as summarised in Appendix 1 of this release. The Mineral Resource Estimate includes the Ore Reserves Estimate below. This updated Ore Reserves Estimate represents a 43% increase in gold grade over the previous Ore Reserves Estimate (Sept. 2011), a 14% increase in lead grade and a 10% increase in zinc grade, reflecting the updated Hera block model. The Ore Reserves also reflect a 48% reduction in tonnage against the previous Reserve, representing 500,516 tonnes of mining depletion and a lift in Reserve cut-off from an NSR of $140/t to an NSR cut-off $170/t. | |
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