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Mayur Resources Ltd.
Summary
| Project: | Orokolo Bay | |
|---|---|---|
| Deposit: | Orokolo Bay | |
| Location: | Papua New Guinea | |
| Commodities: | Iron-Silica-Titanium-Zircon | |
| Date: | 5/28/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-5-2020: Mayur Resources Ltd. announces a Resource Estimation report for its Orokolo Bay deposit at the Orokolo Bay project. Updated Mineral Resource Estimate for Project. Mayur Resources (ASX:MRL) today announced a significant JORC Code Compliant Miner | |
| Resources: | (Resources): 209.5Mt @ 8.53% Fe, 1.08% Ti, 474ppm Zircon (M+I+I) & 112.8MT Silica (I+I) | |
| CP/QP: | [Resource]: Troy Lowien (Groundwork Plus Pty Ltd.) | |
| ABSTRACT: | Mayur Resources (ASX:MRL) today announced a significant JORC Code Compliant Mineral Resource upgrade at its Orokolo Bay Mineral/Industrial Sands Project in Papua New Guinea (PNG). The overall resource estimate for the project (Western + Eastern Areas), which plans to produce titano‐magnetite (associated with 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), has increased over 40 percent from 172.7 to 243 million tonnes. The upgrade was obtained in the Western Area of the Project, that lies within EL2305, following the last drilling program in 2019 which saw a rise from 139.2Mt to 209.5Mt (cut‐off 5.25% Fe). The 2016 resource estimate for the Eastern Area, that lies within the adjacent EL2150, remains unchanged at 33.5Mt (cut‐off 7% Fe, for a total Project Resource of 243 Mt). | |
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