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Clean Teq Holdings Ltd.
Summary
| Project: | Syerston | |
|---|---|---|
| Deposit: | Syerston | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 8/22/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 22-8-2016: Clean Teq Holdings Ltd. announces a Resource Estimation report for its Syerston deposit at the Syerston project. Updated Nickel and Cobalt resource estimate, 92% of updated resource in M+I categories. Clean TeQ Holdings Limited (ASX: CLQ) is pl | |
| Resources: | (Resource, Total): 109Mt @ 0.65% Ni, 0.10% Co at Syerston | |
| CP/QP: | [Resources]: Diederik Speijers, John McDonald (McDonald Speijers Pty Ltd.) | |
| ABSTRACT: | Clean TeQ Holdings Limited (ASX: CLQ) is pleased to announce an update to the Syerston Nickel/Cobalt Mineral Resource. The Mineral Resource Estimate, that has been undertaken by McDonald Speijers and conforms to JORC 2012 standards, updates a resource estimate made by them in 2005 for Ivanplats Syerston Pty Ltd (Ivanplats) and incorporates additional drilling results obtained since that time. The 2005 resource estimate followed programmes of infill drilling conducted by Ivanplats, subsequent to a resource estimate published by Black Range Minerals Limited (BRM) in 1999. Of particular note are the grades of cobalt reported in the Updated Mineral Resource Estimate. The ratio of cobalt to nickel grades is unusually high when compared to other global nickel laterite resources2 (see Figure 1). Between 1999 and 2000, BRM undertook a Feasibility Study3 on the Syerston Project to evaluate the economic potential of a mine processing 2.0 Mtpa of ore over a 36-year mine life, with an average plant feed grade of 0.99% nickel and 0.24% cobalt in the first three years of operation, and 0.88% nickel and 0.17% cobalt over the first 20 years of operation. The planned capacity of the Project was 20,000 tpa of contained nickel and 5,000 tpa of contained cobalt. This indicates the potential of the Syerston Project to become a significant global producer of cobalt owing to the significant cobalt grades of the laterite | |
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