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Highfield Resources Ltd.
Summary
| Project: | Muga | |
|---|---|---|
| Deposit: | Muga | |
| Location: | Spain | |
| Commodities: | Potash | |
| Date: | 1/22/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 22-1-2019: Highfield Resources Ltd. announces a Resource Estimation report for its Muga deposit at the Muga project. Updated ore reserve estimate at the project. This update relates to a revised Ore Reserve Statement prepared by Highfield Resources and au | |
| Resources: | (Reserve, P+P): 108.7Mt @ 10.2% K2O, 0.5% MgO, 16.1% KCl | |
| CP/QP: | [Overall Report]: Peter Albert (Internal) | |
| ABSTRACT: | This update relates to a revised Ore Reserve Statement prepared by Highfield Resources and audited by SRK Consulting (UK) Limited (“SRK”) which is presented in Table 1 below. The Proved and Probable Ore Reserve has been derived from the Measured and Indicated Mineral Resource of 235 million tonnes as previously reported on 10 October 2018 and comprises 108.7 million tonnes at 10.2% Potassium Oxide (“K2O”, potash), with a Proved Ore Reserve of 42.9 million tonnes at 10.2% K2O and a Probable Ore Reserve of 65.8 million tonnes at 10.2% K2O. As a result of additional detailed 3D modelling undertaken after the release of the Muga Project Update statement dated 15 October 2018, the total Ore Reserve of 108.7 million tonnes is modestly different from the 117 million tonnes of Muga mining inventory previously reported. The audited Ore Reserve Statement has been reported in accordance with the terminology and guidelines of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”). Specifically, it comprises the portion of the Mineral Resource classified as Measured or Indicated which is planned to be mined and processed, and then transported to the point of sale. The Ore Reserve is presented in terms of plant feed and inclusive of losses and dilution incurred during mining and is a sub-set of, and not additive to, the Mineral Resource estimate released on 10 October 2018 from which it was derived. | |
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