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Mayur Resources Ltd.
Summary
| Project: | Orokolo Bay | |
|---|---|---|
| Deposit: | Orokolo Bay | |
| Location: | Papua New Guinea | |
| Commodities: | Zircon-Iron-Titanium-Zircon | |
| Date: | 7/2/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-7-2020: Mayur Resources Ltd. announces a Resource Estimation report for its Orokolo Bay deposit at the Orokolo Bay project. Initial Ore Reserve Estimate for Project. Mayur Resources (ASX:MRL) today announced a maiden Ore Reserve at its Orokolo Bay Miner | |
| Resources: | (Reserves, P+P): 30.6Mt @ 12.28% Fe, 1.72% Ti, 689ppm Zircon | |
| CP/QP: | [Reserve] Troy Lowien (Groundwork Plus Pty Ltd.) | |
| ABSTRACT: | Mayur Resources (ASX:MRL) today announced a maiden Ore Reserve at its Orokolo Bay Mineral/Industrial Sands Project in Papua New Guinea (PNG). The 30 million tonne (Mt) maiden Ore Reserve follows the recent upgrade to the Mineral Resource inventory (refer ASX announcement 28 May 2020: Mayur banks 40% resources upgrade at its Orokolo Bay/Industrial Sands Project). The maiden in-situ Reserve estimate for the project has been prepared in accordance with JORC by Groundworks Plus, and is estimated at 30.6 Mt using a 5.5% Davis Tube Recovery (DTR) (approximately 8.2% Fe) cut-off, which is higher than the previously used 5.25% Fe cut off in the previous JORC Mineral Resource estimate. The planned mining rate for the project is 5 Mt per annum (Run of Mine) to produce several products, including titano-magnetite (used in steelmaking), dense medium separation (DMS) magnetite (predominantly used in coal washing), construction sands (for cement/concrete and asphalt production) and a zircon-rich valuable heavy mineral concentrate (utilised for many purposes in the foundry, ceramics and coating industries). | |
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