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Clean Teq Holdings Ltd.
Summary
| Project: | Syerston | |
|---|---|---|
| Deposit: | Syerston | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 10/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-10-2017: Clean Teq Holdings Ltd. announces a Resource Estimation report for its Syerston deposit at the Syerston project. Resource estimation update at Syerston, 30% increase in Co grade. Mr Sam Riggall, Managing Director of Clean TeQ Holdings Limited ( | |
| Resources: | (Resource, Total): 101Mt @ 0.59% Ni, 0.13% Co at Syerston | |
| CP/QP: | [Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | Mr Sam Riggall, Managing Director of Clean TeQ Holdings Limited (Clean TeQ or Company) (CLQ:ASX; CTEQF:OTCQX), today announced an update to the Syerston mineral resource. This update reflects a significant increase in cobalt ore grades and contained cobalt metal compared to the 2016 resource estimate (20 September 2016), which was the basis of the Pre-Feasibility Study (PFS). A substantial uplift in the scandium resource has also been achieved. The Platinum Mineral Resource includes significant high-grade zones of 12Mt @ 0.82 g/t Pt for 320,278 ounces, using a 0.5 g/t cut-off. Mr Riggall commented, “The purpose of updating the Mineral Resource Estimate was to demonstrate and confirm the significant upside that exists in the cobalt production potential at Syerston. Previous studies have focused almost exclusively on nickel, with little appreciation of the value represented by the inherent variability of cobalt grades. By focusing on a cobalt cut-off grade, this update has led to the inclusion of higher 2 grade blocks that had previously been excluded from the geological model. It has also allowed for more selective rejection of low grade and waste material. “The resource now gives us significant flexibility to respond to market conditions and manage production volumes across the range of metals – cobalt, nickel and scandium. We also believe that focusing on grade control and adopting a selective mining approach will deliver significant upside. These options will continue to be reviewed as part of the DFS and our operating plan. | |
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