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Hexagon Resources Ltd.
Summary
| Project: | McIntosh | |
|---|---|---|
| Deposit: | McIntosh | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 5/25/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 25-5-2017: Hexagon Resources Ltd. announces a Resource Estimation report for its McIntosh deposit at the McIntosh project. Updated mineral resource estimate for the McIntosh Flake Graphite project. Hexagon Resources Limited (ASX: HXG) is pleased to report | |
| Resources: | (Resource, I+I): 21.3Mt @ 4.5% TGC for 936.6Kt graphite contained at project | |
| CP/QP: | [Resources]: Shane Tomlinson, Mike Rosenstreich (Internal) | |
| ABSTRACT: | Hexagon Resources Limited (ASX: HXG) is pleased to report an updated Mineral Resource estimate for the McIntosh Flake Graphite Project, located in Western Australia, of 21.3 million tonnes grading 4.5 % Total Graphitic Carbon (TGC). This represents a 3% increase in terms of tonnes and contained graphite and a 10% improvement in the proportion of material classified as Indicated from Inferred compared to the Mineral Resource estimate reported to ASX on 15 February 2017. The updated Mineral Resource estimate was carried out by Hexagon to include additional drilling results obtained from the Emperor deposit, since the February report, and re-interpretation and estimation of the Longtom deposit using a 3% TGC cut-off grade. All four reported resource models (Table 1 and Figure 1) at the McIntosh Project have been verified by Optiro Pty Ltd, a leading, independent resource and mining consultancy group with experience in assessing graphite resources. Hexagon’s Managing Director, Mike Rosenstreich commented “This upgrade is part of the ongoing initiative by the Company to increase the scale and longevity of the project and provides a solid basis for the current mining plans that underpin Hexagon’s stage-one pre-feasibility study (PFS) and also gives Hexagon’s team “ownership” of all the Mineral Resource estimates, which importantly underwent detailed independent scrutiny. We continue to focus on the PFS and expect to provide a report of key PFS outcomes next week.” | |
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