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Highlands Pacific Ltd.
Summary
| Project: | Ramu | |
|---|---|---|
| Deposit: | Ramu | |
| Location: | Papua New Guinea | |
| Commodities: | Nickel-Cobalt | |
| Date: | 7/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-7-2017: 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 is a PNG incorporated and registered mini | |
| Resources: | (Reserve, P+P): 49Mt @ 1.0% Ni, 0.1% Co at Ramu | |
| CP/QP: | [Resources]: Chao An Deng (China ENFI Engineering Corp.) | |
| ABSTRACT: | Highlands Pacific is a PNG incorporated and registered mining and exploration company listed on the ASX and POMSoX exchanges. Its major assets are interests in the producing Ramu nickel cobalt mine and the Frieda River copper gold project; with exploration in progress in the Star Mountains. Highlands also has exploration tenements at on Normanby Island (Sewa Bay). The producing Ramu nickel cobalt mine is located 75km west of the provincial capital of Madang, PNG. Highlands 8.56% interest in Ramu will increase to 11.3% at no cost to Highlands after repayment of its share of the project debt. Highlands also has an option to acquire an additional 9.25% interest in Ramu at fair market value, which could increase the company’s interest in the mine to 20.55%, if the option is exercised. This update of the Ramu Nickel-cobalt Resource, Papua New Guinea provides a snapshot of the estimated resource remaining for the Ramu nickel cobalt laterite as of December 31st 2016. The results of Ramu Mineral Resources Estimate are seen in Table 1. The report，Update of the Resources of the Ramu Nickel-Cobalt Operation, PNG ， was prepared by Xiong Xiaofang of China ENFI Engineering Corporation. The latest resource update report of Ramu project was prepared by Lawrence Queen Chief Geologist of Highlands Pacific Limited on 2015， which stand on the exploration data before the year 1999 and mining production data. The following tables detail the open pit Ore Reserve estimate update for the Ramu nickel-cobalt laterite mine completed in April 2017. The Ore Reserve estimates are reported below the 31 December 2016 open pit mined surface. The significant figures in these tables are intended to reflect the estimation accuracy. | |
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