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Metminco Ltd.
Summary
| Project: | Miraflores | |
|---|---|---|
| Deposit: | Miraflores | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 3/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-3-2017: Metminco Ltd. announces a Resource Estimation report for its Miraflores deposit at the Miraflores project. Updated Mineral Resource estimate for Miraflores. Metminco Limited (“Metminco” or the “Company”) (ASX: MNC; AIM: MNC) announces that it h | |
| Resources: | (Resource, M+I): 9.27Mt @ 2.82g/t Au, 2.77g/t Ag for 840koz Au, 826koz Ag contained at project | |
| CP/QP: | [Resources]: Scott Wilson (Metal Mining Consultants Inc.) | |
| ABSTRACT: | Metminco Limited (“Metminco” or the “Company”) (ASX: MNC; AIM: MNC) announces that it has received an updated and improved mineral resource estimate for the Miraflores gold deposit in Colombia prepared by Metal Mining Consultants (“MMC”) based in Denver, USA, in accordance with the guidelines of the JORC Code (2012 Edition). This updated mineral resource estimate, which was undertaken to provide the basis of the detailed mine plan for the Miraflores Feasibility Study, replaces the previous JORC (2012) statement completed by MMC that was released to the market on 21 July 2016. The new JORC 2012 Mineral Resource Estimate represents an increase in gold contained in the measured and indicated (“M&I”) resource and inferred resource categories. The mineral resource estimate was based on 25,884 metres of drilling in 73 diamond drill holes and 236 metres of underground channel samples and using a 1.2g/t Au cut-off grade. The modelling of the Miraflores deposit has been undertaken using Vulcan™ and Leapfrog™ Software. All of the exploration sampling has been used in the geological modelling process. The drill hole database was desurveyed, transformed and validated in the Vulcan™ software, which was then used for the modelling of the mineral resource. The Inverse Distanced cubed (ID3) grade estimation methodology was used to estimate gold and silver grades. For the breccia, basalt and saprolite, the variography was modelled to determine appropriate search ellipsoid orientation and search distances, whereas for the 21 veins, the search orientation varied depending on the orientation of the vein. | |
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