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Coventry Resources Ltd.
Summary
| Project: | Caribou Dome | |
|---|---|---|
| Deposit: | Caribou Dome | |
| Location: | United States | |
| Commodities: | Copper | |
| Date: | 4/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 6-4-2017: Coventry Resources Ltd. announces a Resource Estimation report for its Caribou Dome deposit at the Caribou Dome project. Initial JORC Resource Estimate at Caribou Dome. Coventry Minerals Limited (ASX: CYY) is pleased to announce its initial Mine | |
| Resources: | (Resource, Total): 1.63Mt @ 3.1% Cu for 86kt Cu contained at project (0.5% cut-off) | |
| CP/QP: | [Resources]: Peter Ball (DataGeo Geological Consultants) | |
| ABSTRACT: | Coventry Minerals Limited (ASX: CYY) is pleased to announce its initial Mineral Resource Estimate for the high‐grade Caribou Dome Copper Project in Alaska. The Mineral Resource Estimate of 2.8Mt @ 3.1% Cu (using 0.5% lower‐cut) for contained metal of approximately 86,000t, was estimated in accordance with the JORC Code (2012) and issummarised in Table 1. The Company considers there is potential for a significant increase in the Mineral Resource Estimate from further drilling along strike, targeting both near surface and at depth extensions. The Mineral Resource Estimate was independently completed by consultant, Datageo Geological Consultants. The mineralisation was interpreted on sections 15m apart along the strike of the deposit using all available diamond drilling data, the sectional interpretation used geological and assay information to outline the copper mineralisation into 8 separate lodes. This information was captured and solid‐modelled by DataGeo. The drill data was composited to 0.8m down hole within the lodes. The lodes formed the basis for a block model with copper grade estimated using ordinary kriging or inverse distance methods depending on the amount of available composites on a lode by lode basis. Based on preliminary optimisation studies, the Company identified the potential for an open‐cut mining operation to produce a copper concentrate. The optimisation study was based on what is now considered a conservative copper recovery and concentrate grade, and it appearslikely that the in situ resource copper grade may be in the order of 3.0% to support an open‐cut mine at thisscale (dependent of the prevailing copper price). As such, it is thought appropriate to choose a supportable cut‐off which provides a grade of 3.0 to 3.5% Cu in order to identify potentially that material which could be extracted by open cut techniques to at least the 1300mRL and possibly deeper. | |
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