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Mineral Deposits Ltd.
Summary
| Project: | GCO | |
|---|---|---|
| Deposit: | GCO | |
| Location: | Senegal | |
| Commodities: | Ilmenite-Zircon-Leucoxene-Rutile | |
| Date: | 2/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-2-2017: Mineral Deposits Ltd. announces a Resource Estimation report for its GCO deposit at the GCO project. Updated mineral resource estimates and ore reserves for GCO. Mineral Deposits Limited (‘MDL’, the ‘Company’) is pleased to announce an update o | |
| Resources: | (Reserve, P+P): 1.465Mt @ 1.5% HM for 21.7Mt HM contained at project | |
| CP/QP: | [Resources]: Djibril Sow (Internal) | |
| ABSTRACT: | Mineral Deposits Limited (‘MDL’, the ‘Company’) is pleased to announce an update of the Mineral Resource estimate and Ore Reserve in relation to the Grande Côte mineral sands operation (‘GCO’) in Senegal, West Africa (100% basis). MDL owns 50% of TiZir Limited (‘TiZir’), which in turn owns 90% of GCO. The updated Mineral Resource and Ore Reserve estimates were prepared by GCO Competent Persons in accordance with the 2012 edition of the JORC Code1 and replace the Mineral Resource and Ore Reserve estimates released on 18 February 2016. The GCO Mineral Resource is a total of 27.1 Mt of HM (Measured and Indicated and Inferred). The main HM deposits identified to date are Diogo, Fass Boye, Lompoul, Mboro, Mboro Hotel, Yodi and Noto. Both the dunes and the underlying marine sands contain HM, principally ilmenite, zircon, rutile and leucoxene. Zircon and ilmenite are the main HM of interest. The mine path and schedule have been optimised compared to the path design and schedule in the prior year’s Ore Reserve estimate. The mine path now advances north towards Lompoul (previously south) after mining the Diogo area. The mine path has been widened in areas and designed to be straighter with pond floor and water level adjusted relative to the upper aquifer water surface. Dozer push (dry mining) of high‐grade material adjacent to the mine path (within 100m) in specific areas has also been included in Probable Reserves. | |
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