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Globe Metals and Mining Ltd.
Summary
| Project: | Kanyika | |
|---|---|---|
| Deposit: | Kanyika | |
| Location: | Malawi | |
| Commodities: | Niobium-Tantalum | |
| Date: | 1/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 25-1-2019: Globe Metals and Mining Ltd. announces a Feasibility Study report for its Kanyika deposit at the Kanyika project. Updated Feasibility study for Kanyika project. Globe acquired the exploration licence for the Kanyika Niobium Project (KNP) in 200 | |
| Resources: | (Resource, Total):68.3Mt @ 2830ppm Nb2O5, 135ppm Ta2O5 | |
| CP/QP: | [Overall Report]: Alistair Stephens (Internal) | |
| ABSTRACT: | Globe acquired the exploration licence for the Kanyika Niobium Project (KNP) in 2006 and subsequently undertook substantial drilling which led to a JORC mineral resource estimate being published during 2010. The mineral resource estimate was subsequently upgraded in 2013 and revised in 2018 to meet JORC 2012 guidelines. The 2018 resource revision was undertaken for the purposes of ensuring that the technical parameters underpinning the Mineral Resource Estimate calculated in accordance with the 2004 JORC guidelines continue to apply under the 2012 JORC guidelines; critical in the update of the technical components of the Feasibility Study currently occurring. In 2012 Globe commenced engineering studies and has since undertaken optimisation programs aimed at assessing options to improve recoveries, and the impact on capital and operating costs. In 2014, Globe undertook a concentrator pilot plant programme which validated the results of earlier optimisation tests by demonstrating an effective improvement in concentrate grades and recoveries and lead to significant changes to the mining schedule and re-design of the plant. Feasibility Study Program In February 2018, Globe announced it had commenced work aimed at updating and finalising the technical components of the engineering program in order to support project funding initiatives and in light of the changing outlook for the mining and resources industry, and in particular for niobium. To facilitate this, the Company advised it had engaged specialists to revise and update the previous engineering study to incorporate the findings and outcomes of the pilot plant work undertaken and other necessary engineering design changes. Globe is using the updated engineering studies to update the project financial model inclusive of revised capital costs of construction, operating revenues and operating expenses, refer following | |
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