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FYI Resources Ltd.
Summary
| Project: | Cadoux | |
|---|---|---|
| Deposit: | Cadoux | |
| Location: | Australia | |
| Commodities: | Kaolinite | |
| Date: | 10/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-10-2018: FYI Resources Ltd. announces a Resource Estimation report for its Cadoux deposit at the Cadoux project. Additional information which is required under ASX listing rules when disclosing ore reserve. FYI Resources Limited (ASX: FYI) previously a | |
| Resources: | (Reserve, Prob.): 2.89Mt @ 24.4% Al2O3 | |
| CP/QP: | [Overall Report]: Steve Craig (Orelogy Consulting Pty Ltd.) | |
| ABSTRACT: | FYI Resources Limited (ASX: FYI) previously announced a maiden Ore Reserve Estimate (ORE) for its 100% owned Cadoux kaolin project on 24 October 2018 and now provides additional information regarding the ORE under ASX listing rule 5.9. The Cadoux kaolin project (E70/4673) is situated approximately ~220km northeast of Perth, Western Australia. This ORE follows an updated Mineral Resource Estimation (MRE), calculated by CSA Global for the recently published Cadoux pre-feasibility study (PFS) (see ASX announcement 25 September 2018, section 7). The MRE focused on a targeted subset of the larger Cadoux indicated resources reported in July 2017 and was selected for optimal mining and economic parameters. The MRE is set out in table 1 below. The Cadoux project’s Ore Reserve Estimate, prepared by Orelogy Consulting Pty Ltd (Orelogy), has a Probable Ore Reserve of 2.89Mt grading 24.4% Al2O3 (see Table 2 below). The Ore Reserve is based on the Indicated Mineral Resources, any Inferred material has been excluded from the Ore Reserve Estimate. The Cadoux kaolin ORE is capable of supporting HPA production for more than 50 years. The Ore Reserve for the Cadoux HPA Project was estimated in accordance with the JORC 2012 Code. The Ore Reserve estimate is based on the Indicated Mineral Resource, metallurgical test work, processing and engineering designs, the Kwinana processing plant and associated infrastructure, cost estimation, planning inputs, variables and assumptions, marketing and pricing research, all of which is detailed in the mining section of Company’s recently published PFS report. | |
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