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Independence Group NL
Summary
| Project: | Nova | |
|---|---|---|
| Deposit: | Nova | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 7/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-7-2018: 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) reports the annual update of IGO | |
| Resources: | (Reserve, Total): 11.7Mt @ 1.86% 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) reports the annual update of IGO’s Mineral Resources and Ore Reserves as well as an update on Exploration activities for the 2018 financial year. 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 30 June 2018. Peter Bradford, IGO’s Managing Director and CEO said: “IGO is in a unique position at the Nova Operation with 96%1 of the Mineral Resource now classified as Measured and 92%1 of the Ore Reserve classified as Proved. These are the highest confidence JORC Code categories and represent a significant step in de-risking future production from Nova. There are few mining operations which effectively have their life-of-mine profile at such a low-risk resource classification. By taking these steps, the Company can now focus on both optimising the value of the resource and delivering discovery of additional mineralisation at Nova. “We have seen a decrease in the Ore Reserve metal at the Nova Operation of approximately 11%2 compared to the previous Ore Reserve statement. Although this is a reduction in metal, the team has done a great job in optimising the life-of-mine plan to drive additional value | |
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