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Base Resources Ltd.
Summary
| Project: | Toliara | |
|---|---|---|
| Deposit: | Ranobe | |
| Location: | Madagascar | |
| Commodities: | Zircon-Ilmenite-Rutile | |
| Date: | 1/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-1-2019: Base Resources Ltd. announces a Resource Estimation report for its Ranobe deposit at the Toliara project. Corrected previous announcement to fix typo. ase Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is pleased to announce | |
| Resources: | (Resource, Total): 1293Mt @ 5.1% HM for 72Mt HM contained at Ranobe | |
| CP/QP: | [Resources]: Greg Jones (IHC Robbins) | |
| ABSTRACT: | ase Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is pleased to announce an update to the Ranobe deposit Mineral Resources estimate at its Toliara Project (the 2019 Ranobe Mineral Resources). The Company completed the acquisition of the Toliara Project on 22 January 2018 and is currently progressing the project through a full study phase. The Toliara Project is founded on the Ranobe deposit, located approximately 40 kilometres north of the regional town of Toliara in south west Madagascar and approximately 15 kilometres inland from the coast. The 2019 Ranobe Mineral Resources estimate is the result of additional drilling completed to date and revised geological interpretations following a comprehensive mineralogical re-definition of drill samples. The 2019 Ranobe Mineral Resources estimate was completed as part of the Toliara Project pre-feasibility study (PFS) to advance detailed mine planning and to refine the processing design criteria. The PFS is expected to be completed in March 2019. The combination of the new drilling, lowering of cut-off grade to 1.5% (on the basis of the likely economics for the Toliara Project) and inclusion for the first time of some material from one of the two lower mineralised units (the intermediate clay sand unit) have resulted in a 25% increase in the contained heavy mineral (HM) tonnes of the Ranobe deposit Mineral Resources estimate. The drill program will continue over the course of 2019, with the objectives of completing the remaining minerology redefinition, improving the understanding of the lower mineralised units and increasing the volume of Mineral Resources within the measured and indicated categories. A further update to the Ranobe deposit Mineral Resources estimate is expected once this work is complete, which will form the basis for the Ore Reserves estimate required for the project’s definitive feasibility study. | |
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