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Mineral Commodities Ltd.
Summary
| Project: | Tormin | |
|---|---|---|
| Deposit: | Tormin | |
| Location: | South Africa | |
| Commodities: | Ilmenite-Zircon-Rutile-Garnet | |
| Date: | 3/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-3-2019: Mineral Commodities Ltd. announces a Resource Estimation report for its Tormin deposit at the Tormin project. Updated mineral resource estimate at the project. The differences between production and resource tonnage is obviously due to the amoun | |
| Resources: | (Resource, Inf.): 2.26Mt @ 14.1% HM at project | |
| CP/QP: | [Resources]: Joseph Drake-Brockman (Drake-Brockman Geoinfo Pty Ltd.) | |
| ABSTRACT: | The differences between production and resource tonnage is obviously due to the amount of higher-grade replenishment (ie. new) material mined throughout the year which cannot be accounted for in the modelling The cut-off grade used was 5% Total Heavy Mineral content. Cut-off grade is based on the economic criteria established by the ongoing mining operations. No modifying factors outside the cut-off grade were applied as the whole resource is actively being mined and the inferred resource cannot be converted to a mineral reserve. Executive Chairman Mark Caruso said, “There continues to be a strong correlation between the inferred resource grade and the material mined grade to date. The 2018 Mineral Resource audit demonstrates a continued volumetric natural replenishment with in excess of 9.2 million tonnes having been mined to date against the initial indicated resource of 2.7 million tonnes. Furthermore, processing optimisations in 2018 have resulted in additional recovery of valuable heavy minerals, which was formerly being returned to the beach as tailings and enhancing the resource grade. Notwithstanding the reduction in the inferred resource grade, the Tormin Operation remains a world class resource and the Company remains confident that in conjunction with the renewal of its Mining Rights, granting of the current Prospecting Rights and Mine Extension Right Applications, the resource will underpin Tormin’s operations into the future.” | |
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