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Barra Resources Ltd.
Summary
| Project: | Mt Thirsty | |
|---|---|---|
| Deposit: | Mt Thirsty | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel-Manganese | |
| Date: | 2/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2019: Barra Resources Ltd. announces a Resource Estimation report for its Mt Thirsty deposit at the Mt Thirsty project. Upgraded mineral resource estimate to JORC 2012. Barra’s Managing Director and CEO Sean Gregory said “This work modernises the Mt | |
| Resources: | (Resource, I+I): 25.1Mt @ 0.114% Co, 0.52% Ni (dry) | |
| CP/QP: | [Resources]: David Reid (Golder Associates) | |
| ABSTRACT: | Barra’s Managing Director and CEO Sean Gregory said “This work modernises the Mt Thirsty Mineral Resource using the best available methods. The MTJV always spends shareholder funds judiciously and this de-risking of the project has been achieved by utilising the existing drilling data, which tier one mining consultant firm Golder Associates has confirmed to be of a suitable standard. This Mineral Resource together with the recent metallurgical results will form the basis of a new optimised mine plan for the PFS which is expected to unlock significant value for the project.” The Mt Thirsty Cobalt Nickel Project is located 16km northwest of Norseman, Western Australia. The project is jointly owned by Barra Resources Limited and Conico Limited, together the Mt Thirsty Joint Venture (MTJV). The Project contains the Mt Thirsty Cobalt-Nickel Oxide Deposit that has the potential to emerge as Australia’s next cobalt producer. The MTJV is progressing a Pre-Feasibility Study (PFS) on the project. Drilling Data Extensive drilling has been completed on the deposit from 1996-2018 including 696 Air Core (AC) holes, 14 Reverse Circulation (RC) holes, 21 Rotary Air Blast (RAB) holes, and 7 Sonic Core (SC) holes. Grid spacing is sufficiently close for the style of mineralisation at 50m x 40m on the eastern side and 50m x 80m on the western side. A comparison of the analytical results from twin AC, RC and SC holes was completed. Differences are noted between the various drilling types and are most likely due to sample size and short-scale geological variability inherent in laterite deposits. The bulk of the drilling is AC which, based on population statistics, is slightly conservative compared to RC and SC drilling results. The quality assurance data associated with the drilling also proved to be suitable. As such, no additional drilling was specifically completed to facilitate this upgrade from the previous JORC 2004 Inferred and Indicated Mineral Resource to the current JORC 2012 Mineral Resource which is now mostly (90%) classified as Indicated. | |
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