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Carpentaria Exploration Ltd.
Summary
| Project: | Hawsons | |
|---|---|---|
| Deposit: | Hawsons | |
| Location: | Australia | |
| Commodities: | Iron-Silica-Aluminium-Phosphorus-Sulphur | |
| Date: | 2/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 27-2-2017: Carpentaria Exploration Ltd. announces a Resource Estimation report for its Hawsons deposit at the Hawsons project. Updated Mineral Resource at Hawsons. In a major boost for a decades-long new mining operation at Broken Hill, emerging iron prod | |
| Resources: | (Resource, I+I): 2380Mt @ 69.7% Fe (14.1% Magnetite mass recovery) | |
| CP/QP: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | In a major boost for a decades-long new mining operation at Broken Hill, emerging iron producer Carpentaria Exploration Limited (ASX:CAP) announced today a significantly upgraded resource for its flagship Hawsons Iron Project after successful infill drilling. The drilling programme conducted late last year targeted a resource upgrade capable of supporting a prefeasibility study at the project, which is located just 60 kilometres from Broken Hill. Carpentaria’s Managing Director, Quentin Hill said the resource upgrade had been a success, exceeding the target set for Indicated Resources and is a major step forward for Hawsons, boosting confidence in potentially the Silver City’s biggest new mine. “The size of the upgraded resource at 2.4 billion tonnes is globally significant, and the conversion rate of 96% from Inferred Resources to Indicated status is an outstanding result. Importantly, this increases confidence that similar conversion rates to higher categories can be achieved in future drilling,” Mr Hill said. “Carpentaria believes the current resource, with potentially over 11 years’ worth of Indicated Resources, is capable of supporting a new prefeasibility study and the Company is committed to delivering this, in line with our plans for a major new mine.” An independent prefeasibility study by engineering company GHD is underway, which is expected to be completed by the end of the second quarter of this year. | |
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