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Avenira Ltd.
Summary
| Project: | Baobab | |
|---|---|---|
| Deposit: | Baobab | |
| Location: | Republic Of Senegal | |
| Commodities: | Phosphate | |
| Date: | 10/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-10-2017: Avenira Ltd. announces a Resource Estimation report for its Baobab deposit at the Baobab project. Resource update, 11% increase in Indicated resource tonnage. Avenira Limited ('Avenira' or 'the Company') is pleased to advise that now-revised M | |
| Resources: | (Resource): 34.9Mt @ 20.7% P2O5 (Ind.) and 156Mt @ 18% P2O5 (Inf.) at project | |
| CP/QP: | [Resources]: Johnathon Abbott (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Avenira Limited ('Avenira' or 'the Company') is pleased to advise that now-revised Mineral Resource estimates significantly increase the potential longevity of the Baobab Phosphate Project. Including mining depletion to end August, the new Indicated Resource tonnage is 11% higher than the previous estimate and the new Inferred Resource tonnage is 37% higher than the previous estimate (both as announced on 2 March 2017). Avenira’s Managing Director, Louis Calvarin, said: “Our exploration team has continued to deliver outstanding results in growing the Resource base. Baobab now hosts a world-class resource and this represents a very strong basis for the Company’s strategic growth and long term success.” The broader Baobab Project area covers approximately 1,163 km2 (see Figure 2). The tenement area, as previously indicated in the 11 September 2017 Exploration announcement, has been recently granted for three additional years. A Small Mine Permit ("SMP") was granted in May 2015 over the area of thickest and highest grade mineralisation identified to date in the Gadde Bissik area and the focus of exploration has continued largely within and adjacent this area since that time, including an infill drilling campaign within the SMP to better define the geometry of the phosphate sequence (Figure 1). In addition, drilling campaigns were carried out further to the east, with the objective to increase Indicated Resources and Inferred Resources at the Gadde Escale prospect | |
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