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Jindalee Resources Ltd.
Summary
| Project: | Prospect Ridge | |
|---|---|---|
| Deposit: | Arthur River | |
| Location: | Australia | |
| Commodities: | Magnesium-Silica-Iron-Calcium | |
| Date: | 10/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-10-2017: Jindalee Resources Ltd. announces a Resource Estimation report for its Arthur River deposit at the Prospect Ridge project. Resource estimate restated in accordance with the JORC (2012) code. Jindalee Resources Limited (ASX: JRL) is pleased to | |
| Resources: | (Resource, Inf.): 25Mt @ 42.4% MgO, 4.8% SiO2, 1.4% Fe2O3, 2.6% CaO at Arthur River | |
| CP/QP: | [Resources]: Stewart Capp (Derwent Geoscience (Fiji) Pte Ltd.) | |
| ABSTRACT: | Jindalee Resources Limited (ASX: JRL) is pleased to announce that the resource estimate for the Arthur River magnesite deposit, which forms part of the Prospect Ridge Project (EL5/2016), has been restated in accordance with the JORC Code (2012). The Prospect Ridge Project is located in NW Tasmania and contains the Arthur River and Lyons River magnesite deposits. Geoscience Australia’s website notes that the Arthur River-Lyons River area covered by the Prospect Ridge Project contains the third largest inventory of magnesite Economic Demonstrated Resources (EDR) in Australia (refer www.ga.gov.au). Jindalee holds a 100% beneficial interest in the Project. The Prospect Ridge Project is centred approximately 55km SW of Burnie, Tasmania (refer Figure 1). Magnesite deposits were first discovered in the area in 1925 with exploration in the 40 years from 1970 to 2010 undertaken by companies including Mineral Holdings Australia, CRA (now Rio Tinto), Tasmania Magnesite NL (TMNL), Crest Magnesium and Minemakers. Beacon Hill Resources Plc purchased the leases covering the Arthur River and Lyons River deposits in 2009 and in the period to 2014 completed extensive pre-development activities at the Arthur River deposit including drilling, hydrological studies, environmental and Aboriginal Heritage studies, metallurgical testwork and resource estimates. On 2 May 2012 Beacon Hill released estimated Inferred Resources of 25Mt @ 42.4% MgO¹ (40% MgO cut-off) for the southern part of the Arthur River deposit only. | |
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