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Marindi Metals Ltd.
Summary
| Project: | Newman | |
|---|---|---|
| Deposit: | Prairie Downs, Wolf | |
| Location: | Australia | |
| Commodities: | Silver-Copper-Lead-Zinc-Vanadium | |
| Date: | 5/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 22-5-2017: Marindi Metals Ltd. announces an Exploration/Drilling Update report for its Prairie Downs, Wolf deposit at the Newman project. Re-assay of old drill holes incl. 89m @ 2.1% Zn, 0.5% V2O5, 11g/t Ag, 0.2% Pb from 120m. Marindi Metals Limited (“Mar | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Joseph Treacy (Internal) | |
| ABSTRACT: | Marindi Metals Limited (“Marindi”, ASX: MZN) is pleased to provide the following update regarding recent exploration and work plans for the Newman Base Metals Project in 2017. The project, located 60km south west of Newman in the Pilbara region of Western Australia, hosts the Prairie Deposit and the Wolf Prospect located on the Prairie Downs Fault Zone (“PDFZ”). Marindi considers market fundamentals indicate potential for the zinc price to increase substantially over the next 12-18 months. Consequently, Marindi considers it prudent to be in a position to optimise the value of the Company’s substantial zinc assets in the event of such improvement. Marindi is currently investigating the potential for both standalone and third party treatment options for the Prairie sulphide resource. As part of this assessment, open pit optimisation studies using various zinc pricing scenarios have been undertaken. Initial results have been encouraging and further design work is progressing. As previously reported, the Prairie deposit was subject to detailed metallurgical studies in 2008 as part of a feasibility study that was suspended due to the Global Financial Crisis. A review of the previous metallurgical test work will also occur during the current quarter, in tandem with baseline environmental studies. The Wolf Prospect is located approximately 3km north west of the Prairie Deposit1 . Marindi confirmed the presence of significant zinc mineralisation at Wolf in the 2015 field season. Five holes over an 800m of strike were selected and 332 samples from zinc-rich zones were submitted for re-assay for the presence of vanadium. | |
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