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Mineral Commodities Ltd.

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Summary

Project:

Tormin

Deposit:Tormin
Location:South Africa
Commodities:Ilmenite-Zircon-Rutile-Garnet
Date:2/16/2018
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Active Mining & Production
Report details:16-2-2018: Mineral Commodities Ltd. announces a Resource Estimation report for its Tormin deposit at the Tormin project. Annual Tormin Mineral resource update. Mineral Commodities Ltd (ASX: MRC) (“the Company” or “MRC”) provides the below in respect to it
Resources:(Resource, Inf.): 1.8Mt @ 15.92% HM at project
CP/QP:[Resources]: Adriaan du Toit (AEMCo Pty Ltd.)
ABSTRACT:Mineral Commodities Ltd (ASX: MRC) (“the Company” or “MRC”) provides the below in respect to its annual Tormin Mineral Sands Operation (“Tormin”) resource audit. A summary of all material information is set out below. Full details of the resource audit will be included in the Annual Report to shareholders in accordance with ASX Listing Rule 5.21. Executive Chairman Mark Caruso said, “There continues to be a strong correlation between the inferred resource and the material mined to date. The 2017 Mined Resource demonstrates a continued volumetric natural replenishment with in excess of 6.55MT having been mined to date against the initial indicated resource of 2.7MT. Furthermore, processing optimisations in 2017 have resulted in additional recovery of VHM 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 Mine remains a World Class Resource and the Company remains confident that in conjunction with the granting of the current Prospecting and Mine Extension Applications, the resource will underpin MRC operations into the future.” The December 2017 inferred resource is based on the reasonable prospect for the economic extraction of the material, as has occurred over the past 4 years. Note that individual minerals are reported as a percentage of the total resource. Mining has now been ongoing for four years and a total of 6.55 million tonnes of material has been processed. The tonnage processed is more than the original declared resource tonnage (2.7 Mt) which is indicative of the replenishment nature of the resource where resource blocks gets mined more than once per year.

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