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BCI Minerals Ltd.
Summary
| Project: | Iron Valley | |
|---|---|---|
| Deposit: | Iron Valley | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 10/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-10-2019: BCI Minerals Ltd. announces a Resource Estimation report for its Iron Valley deposit at the Iron Valley project. Updated mineral resources and ore reserves. BCI Minerals Limited (ASX: BCI) ("BCI" or the "Company") reports its Mineral Resources | |
| Resources: | (Reserve, P+P): 89.0Mt @ 58.3% Fe | |
| CP/QP: | [Resources]: Matthew Watson (Internal) | |
| ABSTRACT: | BCI Minerals Limited (ASX: BCI) ("BCI" or the "Company") reports its Mineral Resources and Ore Reserves as at 30 June 2019. As shown in tables 1 and 2 below, BCI has total hematite Mineral Resources of 473Mt and hematite Ore Reserves of approximately 223Mt. Iron Valley is 100% owned by BCI and is being operated by Mineral Resources Limited (“MRL”) under a royalty-type agreement. MRL operates the mine at its cost and purchases Iron Valley product from BCI at a price linked to MRL’s realised sale price. Mineral Resources and Ore Reserves for Iron Valley as at 30 June 2019 are presented below. The estimates and Competent Person Statements were prepared by MRL in accordance with JORC (2012) guidelines. Suitably qualified BCI personnel have reviewed the documentation and are comfortable with the methodologies used for the estimates. The Mineral Resources and Ore Reserves have not materially changed since last reported as at 30 June 2018, with changes due to mining depletion as at 30 June 2019 and updated price and cost assumptions. | |
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