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Metallica Minerals Ltd.

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Summary

Project:

Urquhart

Deposit:Urquhart
Location:Australia
Commodities:Aluminium
Date:11/14/2016
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Feasibility Study
Report details:14-11-2016: Metallica Minerals Ltd. announces a Resource Estimation report for its Urquhart deposit at the Urquhart project. Resource estimate increased in size and confidence level. Bauxite developer, Metallica Minerals Limited (Metallica) (ASX:MLM), is
Resources:(Resource, 9.5Mt @ 52.8% total Al2O3, 13.7% total SiO2
CP/QP:[Resources]: John Horton (IMC Mining Pty Ltd.)
ABSTRACT:Bauxite developer, Metallica Minerals Limited (Metallica) (ASX:MLM), is pleased to announce a maiden JORC (2012) compliant Measured and Indicated mineral resource for its Urquhart Bauxite project (UBx), five kilometres southwest of Weipa on Queensland’s Cape York and slated for first mining next year. The milestone includes an inventory increase in both volume and category despite the application of a higher cut-off grade in preparing the new estimate. The project now comprises a total JORC (2012) Measured, Indicated and Inferred resource estimate of 9.5 million tonnes, a significant 26% increase on the May 2015 maiden resource estimate. The upgrade, which followed the completion of a close spaced 198-hole drilling program in August 2016, was independently prepared by IMC Mining Pty Ltd (IMC). The Urquhart Bauxite project is situated approximately 5 km southwest of Weipa on Queensland’s Western Cape York Peninsula (See Figure 1). Western Cape York is world-renowned for its extensive deposits of high-quality, export grade pisolitic bauxite. The maiden Inferred Mineral Resource was announced on 11 May 2015 and was subsequently followed by a favourable mine planning internal assessment. Infill drilling of the main resource at Area A with 80m and 160m grid drilling in August 2016 (See Figure 2), has upgraded the Mineral Resource classification for the first time to Measured and Indicated, respectively. The drilling has also extended the Mineral Resource limits. Sonic drilling completed for density measurements has indicated a higher in-situ density than previously assumed for the maiden statement.

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