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Mineral Resources Ltd.
Summary
| Project: | Mt Marion | |
|---|---|---|
| Deposit: | Mt Marion | |
| Location: | Australia | |
| Commodities: | Lithium-Iron | |
| Date: | 7/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-7-2019: Mineral Resources Ltd. announces a Resource Estimation report for its Mt Marion deposit at the Mt Marion project. Updated mineral resource estimate at Mt. Marion. Mineral Resources Limited (ASX: MIN, MRL) completed a debut US$700 million 8.125% | |
| Resources: | (Resource, I+I): 72.9Mt @ 1.37% Li2O, 1.05% Fe | |
| CP/QP: | [Resources]: Matthew Watson (Internal) | |
| ABSTRACT: | Mineral Resources Limited (ASX: MIN, MRL) completed a debut US$700 million 8.125% 8-year Senior Unsecured Notes Offering (ASX: 23/04/19). MRL has used the net cash proceeds from the offering to refinance certain of its existing credit facilities and will use the remainder for general corporate purposes, including capital expenditures.. A RC drilling program was completed in February at Mt Marion. This included approximately 6,200m of RC drilling focusing on exploration and resource extension holes. The program has delivered increases of indicated and inferred resources. MRL has updated the previous reported Mineral Resource dated 30 October 2018. Taking account of the additional delineated mineralisation and mining depletion during the period finishing 30 June 2019, indicated and inferred resources now total 72.9Mt at 1.37% Li2O and 1.05% Fe; reported above a cut‐off grade of 0.5% Li2O. This was based on an update in May 2019 of the Mineral Resource model, carried out by the MRL Competent Person, Mr Matthew Watson. | |
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