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Independence Group NL
Summary
| Project: | Nova | |
|---|---|---|
| Deposit: | Nova | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 2/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-2-2019: Independence Group NL announces a Resource Estimation report for its Nova deposit at the Nova project. Annual mineral resource and ore reserve statement. Independence Group NL (‘IGO’ or ‘the Company’) (ASX: IGO) is pleased to report Mineral Res | |
| Resources: | (Reserve, Total): 11.5Mt @ 1.90% Ni, 0.76% Cu, 0.06% Co at Nova | |
| CP/QP: | [Resources]: Paul Hetherington (Internal) | |
| ABSTRACT: | Independence Group NL (‘IGO’ or ‘the Company’) (ASX: IGO) is pleased to report Mineral Resource and Ore Reserve estimates as at 31 December 2018 as well as Exploration Results for the calendar year ending 2018. IGO last reported at the end of 2018 financial year and has now transitioned to a calendar year cycle for reporting of Mineral Resources and Ore Reserves to better align with internal planning work streams. Full details of the Mineral Resource and Ore Reserve estimates, including JORC Code Table 1, can be found in the attached Report – Annual Update of Exploration Results, Mineral Resources and Ore Reserves as at 31 December 2018. Peter Bradford, IGO’s Managing Director and CEO said: “Over the past six months we have replaced mining depletion at our Nova Operation and delivered a marginal increase in contained metal in Ore Reserves despite six months of ore production resulting in mine life remaining at eight years. “Importantly, the work completed at the Nova Operation over the past few years to complete grade control drilling of the entire ore body, as well as all underground capital development, has significantly de-risked the project and delivered significant operational flexibility. The net result is a high degree of confidence in our scheduling and forecasting of future production. “The Ore Reserve at Tropicana Gold Mine contains 3.74Moz for a mine life of eight years at planned expanded throughput rates. This incorporates a maiden underground Ore Reserve at Boston Shaker and we expect the Boston Shaker underground feasibility study to be completed and work to commence during the first half of this calendar year. “Looking to the future, IGO has one of the most exciting exploration portfolios amongst our peers, which has been strategically and purposefully established over the last few years. These are truly belt-scale initiatives in highly prospective emerging terranes, each with the potential to deliver multiple tier one discoveries. Our aspiration, over the coming years, is to deliver a pipeline of organic growth opportunities by discovering the mines of the future.” | |
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