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Hexagon Resources Ltd.
Summary
| Project: | McIntosh | |
|---|---|---|
| Deposit: | McIntosh | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 4/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 1-4-2019: Hexagon Resources Ltd. announces a Resource Estimation report for its McIntosh deposit at the McIntosh project. Updated mineral resource estimate at the project. Hexagon Resource Limited (ASX: HXG, “Hexagon”) is pleased to announce a revised Min | |
| Resources: | (Resource, Total): 23.8Mt @ 4.45% TGC for 1060Kt graphite contained | |
| CP/QP: | [Resources]: Shane Tomlinson, Mike Rosenstreich (Internal) | |
| ABSTRACT: | Hexagon Resource Limited (ASX: HXG, “Hexagon”) is pleased to announce a revised Mineral Resource estimate for the McIntosh flake graphite project in northern WA, which has increased contained graphite by 12% and increased material classified as Indicated by 42%. It also provides an update on other operational activities. The McIntosh project is a Joint Venture between Hexagon and Mineral Resources Limited (ASX: MIN, “MinRes”), with MinRes earning a 51% interest in the project through exploration and development. 1. Commentary Since establishing a minimum potentially viable mineral resource for McIntosh of 20 million tonnes in February 2017, drilling programs executed by Hexagon in 2017 and MinRes in 2018 have largely focused on increasing the confidence of the key resources, Emperor, Wahoo and Longtom and collecting large samples of mineralisation for metallurgical test work. The modest resource increments since that time largely reflect that focus. Hexagon’s focus is on deposits that can be most easily commercialised. Drilling at Mahi Mahi intersected major widths of graphite, however, whilst a “technical success” in terms of major widths of graphite mineralisation, due to the very fine nature of the flake, Mahi Mahi is not included in the current Mineral Resource estimate based on Clause 49 of JORC 2012 guidelines. Opportunities may arise in the future as the overall sales strategy develops further. | |
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