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Graphitecorp Ltd.
Summary
| Project: | Mount Dromedary | |
|---|---|---|
| Deposit: | Mount Dromedary | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 10/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-10-2016: Graphitecorp Ltd. announces a Resource Estimation report for its Mount Dromedary deposit at the Mount Dromedary project. 66% increase in the total JORC Mineral Resource Estimate to 1.908Mt of contained graphite. Graphitecorp Limited (ASX: GRA) | |
| Resources: | (Resource, Total): 14.3Mt @ 13.3% TGC for 1.908Mt Graphite contained at project | |
| CP/QP: | [Resources]: Robert Dennis (RungePincockMinarco Ltd.) | |
| ABSTRACT: | Graphitecorp Limited (ASX: GRA) (“Graphitecorp” or “the Company”) is pleased to provide an upgraded independent Mineral Resource estimate for the Mount Dromedary flake graphite deposit undertaken by RungePincockMinarco Limited (RPM) following the results of the Company’s Phase 3 Drilling program completed in August 2016. The Mineral Resource update was commissioned as a result of an additional seven reverse circulation (RC) holes, for a total of 655m drilled by Graphitecorp since the last Mount Dromedary Mineral Resource estimate reported in March 2016. The drilling was conducted to improve confidence in the Mount Dromedary Mineral Resource and facilitate completion of a Pre-Feasibility Study. The 152-page RPM Mineral Resource update report provides estimates based on exploration work undertaken as at 17 October 2016 and has been undertaken in compliance with the guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code 2012 Edition) prepared by the Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (“The JORC Code”). Graphite mineralisation is hosted within a graphitic schist unit, part of the Corella Formation package and a unit of the Proterozoic Mary Kathleen Group. The Mary Kathleen Group lies within the Boomarra Horst, in the northern sector of the Quamby-Malbon Belt of the Eastern Succession terrane, Mount Isa Inlier in northwest Queensland. The Mount Isa Inlier is dominated by Early to Middle Proterozoic metasedimentary units with bimodal rhyolitic and basaltic meta-volcanic rocks, gabbro, dolerite and widespread I-type and A-type granitoids. | |
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