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MZI Resources Ltd.
Summary
| Project: | Keysbrook | |
|---|---|---|
| Deposit: | Keysbrook | |
| Location: | Australia | |
| Commodities: | Leucoxene-Zircon | |
| Date: | 10/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-10-2017: MZI Resources Ltd. announces a Resource Estimation report for its Keysbrook deposit at the Keysbrook project. Updated mineral resources and ore reserves at Keysbrook. MZI Resources Ltd (ASX: MZI) has updated the Keysbrook Mineral Resource and | |
| Resources: | (Reserve, P+P): 58Mt @ 2.3% HM at project | |
| CP/QP: | [Resources]: Susan Havlin, John Baxter (Optiro Pty Ltd.;Internal) | |
| ABSTRACT: | MZI Resources Ltd (ASX: MZI) has updated the Keysbrook Mineral Resource and Ore Reserve, following infill drilling and a detailed technical review to provide increased understanding and confidence in the orebody for mine planning purposes. This work has resulted in an updated Mineral Resource estimate of 146.8 Mt grading 2.0% THM, and an updated Ore Reserve of 58.0 Mt grading 2.3% THM as at 30 June 2017. The updated estimates reflect depletion, dilution factor and sterilisation by mining totalling 7.5 Mt since operational activities commenced in mid-2015. Other technical adjustments identified during the review also reduced the total Ore Reserve by a further 6.6 Mt compared with the prior estimate (refer ASX releases dated 7 August 2015 and 23 March 2016, respectively). The updated Mineral Resource and Ore Reserve substantiates increasing confidence in the Keysbrook Deposit, with 86% of the total Mineral Resource now classified as Measured (from 71% previously) and 92% of the total Ore Reserve now classified as Proved (from 75% previously). Significantly, the Mineral Resource remains open to the north, west, and south west, and will be progressively tested by further drilling over the life of the operation. A drilling program was completed in mid-2016 to increase confidence in areas scheduled for mining in the next 12-18 months and to provide incremental lateral additions to the resource inventory of the Keysbrook Deposit. Table 1, over the page, shows the updated Keysbrook Project Global Mineral Resource as at 30 June 2017. | |
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