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Itafos

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Summary

Project:

Conda

Deposit:Rasmussen Valley Mine, Lanes Creek Mine
Location:United States
Commodities:Phosphate
Date:12/16/2019
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Active Mining & Production
Report details:16-12-2019: Itafos announces a Resource Estimation report for its Rasmussen Valley Mine, Lanes Creek Mine deposit at the Conda project. Reserve estimate for project. TORONTO, ON – December 16, 2019 – Itafos (TSX VENTURE: IFOS) (the “Company”) announced to
Resources:(Reserve, P+P): 14.4Mt @ 26.6% P2O5
CP/QP:[Overall Report]: Edward Minnes (Golder Associates)
ABSTRACT:TORONTO, ON – December 16, 2019 – Itafos (TSX VENTURE: IFOS) (the “Company”) announced today the filing on SEDAR of the independent technical report encompassing Itafos Conda and Itafos Paris Hills deposits compiled by Golder Associates Ltd. (“Golder”) and titled “NI 43-101 Technical Report on the Itafos Conda and Itafos Paris Hills Mineral Projects, Idaho, USA” (the “Itafos Conda Technical Report”). The Company previously announced the results of the Itafos Conda Technical Report concluding increased existing Mineral Resource estimates and defining the Husky1/North Dry Ridge (“H1/NDR”) deposits as the Company’s path forward for mine development on October 30, 2019. Subsequent to the Company’s announcement of the results of the Itafos Conda Technical Report, certain of the previously announced Mineral Resource estimates related to Itafos Conda’s existing mines, including Rasmussen Valley Mine (“RVM”) and Lanes Creek Mine (“LCM”), have been converted to Mineral Reserve estimates totaling 14.4 million short tons (equivalent to 13.1 million metric tonnes) at approximately 26.6% P2O5. These Mineral Reserve estimates are expected to extend Itafos Conda’s mine life through mid-2026, which represents an additional one and a half to two years of mine life over Itafos Conda’s historical internal estimates.

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