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Manhattan Corp. Ltd.
Summary
| Project: | Ponton | |
|---|---|---|
| Deposit: | Double 8, Stallion, Highway, Shelf | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 1/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-1-2017: Manhattan Corp. Ltd. announces a Resource Estimation report for its Double 8, Stallion, Highway, Shelf deposit at the Ponton project. Double 8 resource estimate upgraded to JORC 2012. Initial resource estimates for other deposits. Manhattan Co | |
| Resources: | ||
| CP/QP: | [Resources]: Arnold van der Heyden (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Manhattan Corporation Limited’s (“Manhattan”) flagship Ponton uranium project is located approximately 200km northeast of Kalgoorlie on the edge of the Great Victoria Desert in WA. The Company has 100% control of around 1,100km2 of exploration tenements underlain by Tertiary palaeochannels within the Gunbarrel Basin. These palaeochannels are known to host a number of uranium deposits and drilled uranium prospects (Figures 1 & 2). The Company is drill testing and developing palaeochannel sand hosted uranium mineralisation amenable to in-situ metal recovery (“ISR”). The Double Mineral Resource previously reported under the JORC Code 2004 has undergone a comprehensive review by resource specialists H&S Consultants Pty Ltd (“H&SC”) and is now reported in accordance with the JORC Code 2012. The reported Inferred Resource for the Double 8 uranium deposit at Ponton in WA of 17.2 million pounds (“Mlb”) of uranium oxide (“U3O8”) at a 200ppm cutoff remains unchanged. This updated resource estimate prepared by H&SC is supported by further detailed information in Appendix 1 being the JORC Code 2012 prescribed Table 1. Maiden Mineral Resource estimates for three deposits at Ponton have reported combined Inferred Mineral resources of 21.5 million tonnes (“Mt”), grading from 137 to 151ppm U3O8 totalling 6.97Mlb U3O8 at the 100ppm U3O8 cutoff. These resource estimates have been prepared by H&SC and reported in accordance with the JORC Code 2012. The four Mineral Resource Estimates reported here, and the four Exploration Targets previously reported in 2014, are based on actual exploration results. | |
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