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Grange Resources Ltd.
Summary
| Project: | Savage River | |
|---|---|---|
| Deposit: | Savage River | |
| Location: | Australia | |
| Commodities: | Iron-Nickel-Titanium-Magnesium-Phosphorus-Vanadium-Sulphur | |
| Date: | 4/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-4-2019: Grange Resources Ltd. announces a Resource Estimation report for its Savage River deposit at the Savage River project. Mineral resource and ore reserve statement for project. Commenting on the announcement, Grange Resources CEO Mr Honglin Zhao s | |
| Resources: | (Reserve, P+P): 94.0Mt @ 49.8% DTR at project | |
| CP/QP: | [Resources]: Ben Maynard (Internal) | |
| ABSTRACT: | Commenting on the announcement, Grange Resources CEO Mr Honglin Zhao said: “This increase in resource is a result of the first part of our study to investigate the depth and continuity of the magnetite deposit at Savage River.” “These results provide Grange with the confidence to continue our pre-feasibility studies to determine if there is an opportunity to access the ore body at depth utilising underground methods.” Grange Resources Pty Ltd (ASX: GRR) (“Grange” or the “Company”) advises that the Mineral Resource for the Savage River Ore Deposits has increased since the previous Mineral Resource estimate dated December 2017. This is as a result of the first phase of resource drilling for the underground prefeasibility study. Ore Reserves have increased with improved confidence in ore defined within the ultimate North Pit design. The increase also accounts for ore mined during 2018. The resource consists of 545.2 million tonnes at 46.7% DTR (above a cut-off of 15% DTR) as detailed in table 1 and the reserve consists of 94.0 million tonnes at 49.8% DTR (above a cut-off of 15% DTR) as detailed in table 2 | |
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