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Diamond Fields Resources Inc.
Summary
| Project: | Beravina | |
|---|---|---|
| Deposit: | Beravina | |
| Location: | Madagascar | |
| Commodities: | Zircon-Hafnium-Thorium-Uranium | |
| Date: | 12/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-12-2018: Diamond Fields Resources Inc. announces a Resource Estimation report for its Beravina deposit at the Beravina project. Initial mineral resource estimate at the project. Vancouver, B.C. (27 December 2018) – Diamond Fields Resources Inc. (TSX-V: | |
| Resources: | (Resource, Inf.): 1.5Mt @ 15.3% ZrO2, 22.7% ZrSiO4, 0.3% HfO2, 537ppm ThO2, 46ppm U3O8 | |
| CP/QP: | [Resources]: Jeremy Witley (MSA Group Pty Ltd.) | |
| ABSTRACT: | Vancouver, B.C. (27 December 2018) – Diamond Fields Resources Inc. (TSX-V: DFR) (“DFR” or the “Company”) is pleased to announce a maiden Inferred Mineral Resource estimate (“Mineral Resource”) of 1.5 million tonnes grading 22.7% Zircon (ZrSiO4) (equivalent to 15.3% ZrO2) for its Beravina project in Madagascar (“Beravina” or the “Project”). Sybrand van der Spuy, CEO, said “We are pleased to have achieved our objective of completing a NI 43-101 compliant resource statement for the Beravina Project before the end of the year. The resource statement is an important milestone in Beravina’s development and clearly shows the high grade nature of the deposit. We are continuing with our work to test the market for our product and also evaluate financing options for Beravina’s continued advancement.” The Mineral Resource was estimated using The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and is reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Mineral Resource is reported at a cut-off grade of 9% ZrO2, which is the lowest grade block estimate within the mineralisation model. Given the relatively high grade of the deposit, the qualified person considers that mineralisation at this cut-off grade (of 9%) will satisfy the test for reasonable prospects for eventual economic extraction should present market conditions remain. The zircon mineralisation occurs within a zoned quartz-feldspar pegmatite. The mineralisation is contained within the outer quartz-zircon zone that forms a roughly circular outcrop on the Beravina hill. The mineralised zone was modelled as a sheath of mineralisation with the hangingwall being towards the centre of the sheath and the footwall being the outside of the mineralised zone. The mineralised zone plunges to the north at between approximately 50° and 65° and is generally between 10m and 20m wide. | |
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