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BCI Minerals Ltd.
Summary
| Project: | Buckland | |
|---|---|---|
| Deposit: | Kumina | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 6/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 28-6-2018: BCI Minerals Ltd. announces a Resource Estimation report for its Kumina deposit at the Buckland project. Initial mineral resource estimate at Kumina deposit. BCI Minerals Limited (ASX: BCI) ("BCI" or the "Company") is pleased to report a maiden | |
| Resources: | (Resource, Inf.): 115.2Mt @ 58.0% Fe, 3.2% Al2O3, 5.7% SiO2, 0.1% P at Kumina | |
| CP/QP: | [Resources]: Rodney Brown (SRK Consulting) | |
| ABSTRACT: | BCI Minerals Limited (ASX: BCI) ("BCI" or the "Company") is pleased to report a maiden JORC Mineral Resource estimate for the Kumina tenements, comprising estimates for deposits A, E and J. Commenting on the Mineral Resource estimates, BCI Managing Director, Alwyn Vorster, said: “Proving up three deposits at Kumina to Resource status within nine months of acquisition is a positive result, particularly given these ‘forgotten’ tenements came with zero exploration information when acquired in late 2017. “We now have a very promising group of deposits, including a significant tonnage of bedded iron mineralisation with a grade of >59% Fe and relatively low impurities, providing a credible ore source in the current iron ore market environment. Kumina also has substantial exploration upside, with many prospective targets remaining untested, and we see it as an attractive standalone development opportunity. The Kumina resource quality is equal or better than many ore sources from the central Pilbara area, and the distance by existing road from Kumina to Port Hedland is shorter than the distance from our Iron Valley tenement (an operating mine) to Port Hedland, making profitable trucking or rail solutions possible. “Our overall iron ore tenement package rivals that of any other Pilbara junior, and this places BCI in a good position from which to participate in future transactions in the sector. BCI is now working to secure funding and partner solutions to accelerate development of Kumina. Our aim is to minimise ongoing iron ore expenditure and create additional earnings to the existing Iron Valley royalty, which can support the development of our salt and potash interests.” | |
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