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Mayur Resources Ltd.
Summary
| Project: | Port Moresby | |
|---|---|---|
| Deposit: | Port Moresby | |
| Location: | Papua New Guinea | |
| Commodities: | Limestone | |
| Date: | 1/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-1-2018: Mayur Resources Ltd. announces a Resource Estimation report for its Port Moresby deposit at the Port Moresby project. Initial Mineral Resource for the Port Moresby project. Mayur Resources Ltd (ASX:MRL) has delineated a limestone Mineral Resou | |
| Resources: | (Resource): 205Mt @ 53.5% CaO (Mea.) 128Mt @ 51.8% CaO (Ind.) at Port Moresby | |
| CP/QP: | [Resources]: Rod Huntley (Groundworks Pty Ltd.) | |
| ABSTRACT: | Mayur Resources Ltd (ASX:MRL) has delineated a limestone Mineral Resource estimate of 382 Mt (2012 JORC) at its Port Moresby limestone project. This is a key milestone in MRL’s strategy of developing PNG’s huge mineral wealth and assisting in the country’s ‘Nation Building’ Industrialisation agenda. As previously announced on 24 October 2017, a 22‐hole drilling programme was completed across the two deposits of Kido and Lea Lea and following the completion of subsequent assaying, petrological test works MRL engaged Groundwork Plus to undertake a resource estimation study. The Resource estimate is summarised in the table below. Mineral Resources have been reported in terms of CaO as this is the value used in most specifications for production of raw kiln feed and clinker. CaO or quicklime is produced upon heating or calcination of the CaCO3 limestone raw feed. A commonly used conversion factor is CaCO3 X 0.56 = CaO, although this generic equation should be used with care and has been provided to allow for a quick approximation of CaCo3 levels. It should be noted that the work by Groundwork Plus is at a Mineral Resource Estimate level where further works will be undertaken with the objective to have sufficient information to support the estimation of ore reserves. Further work and appropriate studies are required before Mayur will be able to estimate any ore reserves or, to provide any assurance of an economic development case being viable. Additionally, this further work may or may not result in the upgrade of the Mineral Resources to Ore Reserves. | |
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