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Avenira Ltd.
Summary
| Project: | Baobab | |
|---|---|---|
| Deposit: | Baobab | |
| Location: | Republic Of Senegal | |
| Commodities: | Phosphate | |
| Date: | 3/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-3-2017: Avenira Ltd. announces a Resource Estimation report for its Baobab deposit at the Baobab project. Mineral resource estimate at Baobab increased by 150%. Avenira Limited ('Avenira' or 'the Company') is pleased to advise that the potential longevi | |
| Resources: | (Resource): 31.7Mt @ 20.6% P2O5 (Ind.) and 114Mt @ 19% P2O5 (Inf.) at project | |
| CP/QP: | [Resources]: Jonathon Abbott (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Avenira Limited ('Avenira' or 'the Company') is pleased to advise that the potential longevity of the Baobab Phosphate Project has been significantly increased with the release of an upgraded Indicated Mineral Resource estimate. The increase of 150% in tonnage at similar grades to the previous Indicated resource estimate will substantially raise the confidence with which the Company can develop its operations and market product to offtakers. Avenira’s Chairman, Dr Chris Pointon, commented “The results show continuing success for our exploration team in growing the Resource base at Baobab. The Resources defined to date and the demonstrated further prospectivity of our concessions are most encouraging. They represent a major step in underpinning the medium and longer term growth of Avenira in Senegal. maiden Indicated Mineral Resource estimate was announced by the Company in December 2015 and mining activities commenced within the SMP in March 2016. The Company expects the first shipment of product from the port of Dakar to occur during March this year. In addition to the drilling in and around the SMP to increase the Indicated Resource, scout drilling has identified several more prospects and areas of anomalous phosphate requiring further exploration. Maiden Inferred Resource estimates are announced here for three new prospects: Dinguiraye, Gandal and Gad Escale. Exploration drilling aimed at testing the Exploration Target east of Gadde Bissik towards Gad Escale is ongoing and further drilling at Dinguiraye and the sparsely drilled areas to the north and northeast is planned for Q2 2017. | |
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