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Jervois Mining Ltd.
Summary
| Project: | Nico Young | |
|---|---|---|
| Deposit: | Nico Young | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 11/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-11-2017: Jervois Mining Ltd. announces a Resource Estimation report for its Nico Young deposit at the Nico Young project. Updated Mineral Resource at project. Jervois Mining Limited’s (“Jervois” or “the Company”) (JRV:ASX) new management team, in conju | |
| Resources: | (Resource, Inf.): 167.8Mt @ 0.59% Ni, 0.06% Co for 9996Kt Ni and 96.6Kt Co contained at project | |
| CP/QP: | [Resources]: Fleur Muller (Geostat Services Pty Ltd.) | |
| ABSTRACT: | Jervois Mining Limited’s (“Jervois” or “the Company”) (JRV:ASX) new management team, in conjunction with geological advisers Snowden Mining Industry Consultants Ltd (“Snowden”) and Geostat Services Pty Ltd (“Geostat”), have completed a re-assessment of the 100% owned Young Cobalt-Nickel project in New South Wales, Australia (“Nico Young” or “the Project”). The focus of these initial efforts is an update of the Nico Young mineral resource by Geostat, who had earlier prepared the previous resource estimate for the Company in 2012. The updated mineral resource is reported and classified in accordance with the guidelines as set out in the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC, 2012 Edition). This estimate differs from the 2012 resource due to additional drilling completed in 2014, identification of laterite cobalt zones not previously modelled; offset by a reduction due to the exclusion from the geological model of deeper mineralized zones located to the north (West Thuddungra and Tyagong). These deeper zones were located within Exploration Licenses that were relinquished during 2016. An independent audit of the Geostat estimate has been completed by Snowden. Snowden and Geostat both visited site. This resource update provides an improved understanding of lithology and cobalt grade distribution throughout the deposit, with a particular focus on shallow lying areas of the deposits that are high in cobalt that may be amenable to potential early mining. | |
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