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Mineral Commodities Ltd.
Summary
| Project: | Tormin | |
|---|---|---|
| Deposit: | Tormin | |
| Location: | South Africa | |
| Commodities: | Ilmenite-Zircon-Rutile-Garnet | |
| Date: | 2/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-2-2017: 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”) provides the below in respect to its annual | |
| Resources: | (Resource, Inf.): 1.8Mt @ 28.08% HM at project | |
| CP/QP: | [Resources]: Adriaan du Toit (AEMCo Pty Ltd.) | |
| ABSTRACT: | Mineral Commodities Ltd (ASX: MRC) (“the Company”) provides the below in respect to its annual Tormin Mineral Sands Project (“Tormin”) resource audit. The December 2016 inferred resource is based on the reasonable prospect for the economic extraction of the material, as has occurred over the past 3 years. Note that individual minerals are reported as a percentage of the total resource. Mining has now been ongoing for three years and a total of 4.5 million tonnes of material has been processed. The tonnage processed is more than the initial declared resource tonnage which is indicative of the replenishment nature of the resource where resource blocks are mined more than once per year. There has been a downgrade of the inferred resources from 2.7 million tonnes to 1.8 million tonnes. Resource replenishment is occurring but at a rate that is slower than the mining rate. The Company is unable to report a replenishment grade or quantity under the 2012 JORC code. The Company continues to conduct grade reconciliation and sample grading on a daily basis as part of the mining operation to correlate between stated resource and actual resource in terms of quantity, grade and replenishment. The resource grade has remained similar to the December 2015 reported resource. The nature of the resource replenishment is typical of modern day beach placer deposits found along the West Coast of South Africa and the Southeastern Tamil Nadu coast of India. | |
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