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Independence Group NL
Summary
| Project: | Nova | |
|---|---|---|
| Deposit: | Nova | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 7/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 26-7-2017: Independence Group NL announces a Resource Estimation report for its Nova deposit at the Nova project. Updated mineral resource estimate at Nova. Independence Group NL (IGO or the Company) (ASX: IGO) is reporting an interim Mineral Resource est | |
| Resources: | (Reserve, Total): 11.4Mt @ 2.4% Ni, 1.0% Cu, 0.1% Co for 271kt Ni, 113kt Cu, 9kt Co at Nova | |
| CP/QP: | [Resources]: Mark Drabble (Optiro Pty Ltd.) | |
| ABSTRACT: | Independence Group NL (IGO or the Company) (ASX: IGO) is reporting an interim Mineral Resource estimate for the Nova Operation, based on improved geological understanding and results of close spaced diamond core ‘grade control’ drilling on the Nova deposit. Also included in this ASX release are encouraging exploration results from outside the Mineral Resource at Bollinger. IGO’s Managing Director, Peter Bradford commented: “The geometry of the Nova-Bollinger orebodies has put IGO in the unique position of being able to de-risk our geological understanding and future mine plans by completing all grade control drilling during the first full year of production. “This acceleration of our understanding would normally happen over an extended period of time with the benefit of a longer history of resource to mill reconciliations and would normally be offset or supplemented by resource extension work. “We are in the very early stages of understanding Nova. The fact that a large part of the difference in the Mineral Resource lies outside the current mine plan is positive, as is the positive tonnage and grade ASX RELEASE Page 2 reconciliation. We are also encouraged by the potential for near mine extensions, including the positive results being observed outside the resource model to the south of Bollinger. “An Ore Reserve estimate is currently being prepared and will be released to the market once available. In parallel grade control drilling is continuing and is expected to be completed by the end of 2017. This will inform an update to the Mineral Resource and Ore Reserve in the second half of FY18.” | |
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