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Highlands Pacific Ltd.
Summary
| Project: | Ramu | |
|---|---|---|
| Deposit: | Ramu | |
| Location: | Papua New Guinea | |
| Commodities: | Nickel-Cobalt | |
| Date: | 9/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-9-2018: Highlands Pacific Ltd. announces a Resource Estimation report for its Ramu deposit at the Ramu project. JV with Anglo American plc - updated mineral resources and ore reserves at Ramu. Highlands Pacific Limited (ASX:HIG) has received updated Mi | |
| Resources: | (Reserve, P+P): 56Mt @ 0.9% Ni, 0.1% Co at Ramu | |
| CP/QP: | [Resources]: Zhang Xueshu (Sinomine Resource Exploration Co.) | |
| ABSTRACT: | Highlands Pacific Limited (ASX:HIG) has received updated Mineral Resource and Ore Reserve estimates for the Ramu nickel and cobalt deposit from the project manager Ramu NiCo Management Limited (MCC). These reports were prepared for and are the responsibility of Ramu NiCo Management (MCC) Limited, the operator and manager of the joint venture. The updated Mineral Resource estimate, as at 15 June 2018, is a total of 136 million tonnes at an average grade of 0.9% nickel and 0.1% cobalt. This compares with the previous estimate, as at December 2016, of 124 million tonnes at 1.0% nickel and 0.1% cobalt, which has been depleted by mining and increased by drilling in the intervening period. The full Mineral Resource estimate is set out in the following table, at a cut-off grade of 0.5% Nickel. The updated Ore Reserve estimate, as at 15 June 2018, is a total of 56 million tonnes at an average grade of 0.9% nickel and 0.1% cobalt. This compares with the previous estimate, as at 31 December 2016, of 49 million tonnes at 1.0% Ni and 0.1% Co, which has been depleted by mining and increased by drilling in the intervening period. Ramu mining area is located on the northern margin of New Guinea thrust fold zone in New Guinea orogenic zone. The outcrop in this area is the Tertiary (N1) Marum basic-ultra basic rock zone (ophiolite complex), which is the main ore source rock of lateritic nickel ore. The laterite horizons containing Ni, Co in the mining area are distributed on the dunite, orthopyroxene peridotite and peridotite of Marum ultra basic rock zone. The ultra-basic rocks are distributed on a series of highland platforms, forming the landform surrounded by faults to have horst characteristics. This deposit is typical lateritic NiCo ore formed by ultra basic rock after weathering and leaching. The laterite NiCo deposits are occurred in the dunite weathering crust. The laterite weathering crust exposed in the drilling engineering includes 6 mineralization horizons: from top to bottom, Humic layer (Q), Red limonite (O), Yellow limonite (L), Saprolite(S), upper rocky saprolite (R1) and lower rocky saprolite (R2). In the Humic layer, Ni | |
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