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Centrex Metals Ltd.

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Summary

Project:

Ardmore

Deposit:Ardmore
Location:Australia
Commodities:Phosphate
Date:10/23/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Scoping Study
Report details:23-10-2017: Centrex Metals Ltd. announces an Exploration/Drilling Update report for its Ardmore deposit at the Ardmore project. Drilling results incl. 5.5m @ 32.9% P2O5 from 9m. Centrex Metals Limited (“Centrex”) has completed a major resource drilling pr
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Alastair Watts (Internal)
ABSTRACT:Centrex Metals Limited (“Centrex”) has completed a major resource drilling program at its Ardmore Phosphate Rock Project (“Ardmore”) in North West Queensland. A total of 319 reverse circulation (“RC”) drill holes and 24 PQ diamond drill holes have been completed over the last 3 months. The purpose of the RC component of the drilling program was to complete infill drilling across the deposit to undertake a resource model update, sufficient for mining feasibility studies, as well as to explore further extensions of the deposit. As previously announced the diamond drilling component of the program was used to generate an almost 1 tonne bulk composite sample for feasibility level metallurgical testwork which is currently underway. Samples from the RC program have now all been dispatched to Adelaide for analysis. To date assays results have been received for the first 108 of the drill holes of the program. The results show promising high phosphate grade intersections in the majority of holes. All assays from the program are expected to be returned in November. A resource model update will follow. The resource model update is targeted to underpin the publication of the results of a scoping study currently nearing completion for the project. The scoping study is being undertaken in parallel to the more detailed feasibility study due for completion in mid-2018. In addition to the drilling program Centrex has undertaken a successful ground water pump test on the Ardmore mining lease within the Northern Zone of the deposit. The aim of the pump test was to determine the potential to use the ground water for process water.

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