For thousands of other reports visit RSC's Mineral Intellingence Map
Hillgrove Resources Ltd.
Summary
| Project: | Kanmantoo | |
|---|---|---|
| Deposit: | Kanmantoo | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 9/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-9-2016: Hillgrove Resources Ltd. announces a Resource Estimation report for its Kanmantoo deposit at the Kanmantoo project. Updated ore reserve estimate for Kanmantoo Copper Mine. Hillgrove Resources Limited (ASX:HGO) advises that a new Ore Reserve Esti | |
| Resources: | (Reserve, P+P): 8.8Mt @ 0.6% Cu, 0.08g/t Au, 1.1g/t Ag | |
| CP/QP: | [Overall Report]: Lachlan Wallace (Internal) | |
| ABSTRACT: | Hillgrove Resources Limited (ASX:HGO) advises that a new Ore Reserve Estimate has been prepared for the Kanmantoo Copper Mine in accordance with The JORC Code 2012 Edition. The Ore Reserve Estimate follows on from the Mineral Resource Estimate released in May 2016 as the Company continues to improve the reliability of its geological modelling which underpin the production forecasts and longer term project value. Copper metal produced by the process plant has positively reconciled against the recent Mineral Resource Estimate for each month this year. Table 2 highlights that the amount of copper metal mined has exceeded the 2016 Mineral Resource Estimate over the 6 months to 30 June 2016, which is a significant improvement on the reliability of the 2013 Ore Reserve Estimate which over stated copper metal production by 24kt over the 40 month period to 30 June 2016 as shown in Figure 1. Although the favourable reconciliation has a positive impact on cash flows and as such is welcome, the 2016 Mineral Resource Estimate will be reviewed to improve the grade estimation accuracy. Remaining within the Giant Pit mine design and below the 30 June 2016 topographic surface there is approximately 14kt copper metal classified as Inferred Mineral Resources above 0.2% Cu cutoff. A Reverse Circulation infill drilling program aimed at improving the confidence level of the Mineral Resource Estimate was completed in August 2016 as detailed in a separate announcement on 1 September 2016. In the December quarter, a revised Mineral Resource Estimate and Ore Reserve Estimate will be prepared to incorporate the drilling results and address the positively reconciling grade estimat | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report