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Montero Mining and Exploration Ltd.
Summary
| Project: | Uis | |
|---|---|---|
| Deposit: | Uis | |
| Location: | Namibia | |
| Commodities: | Lithium-Tantalum-Tin-Caesium-Rubidium | |
| Date: | 1/14/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-1-2019: Montero Mining and Exploration Ltd. announces a Resource Estimation report for its Uis deposit at the Uis project. Initial mineral resource estimate for Uis Tailings project. Toronto, Ontario – January 14, 2019: Montero Mining and Exploration L | |
| Resources: | (Resource, Inf.): 14.4Mt @ 0.37% Li2O, 17.1Mt @ 0.05% SnO2 | |
| CP/QP: | [Resources]: Mike Evans (Independent) | |
| ABSTRACT: | Toronto, Ontario – January 14, 2019: Montero Mining and Exploration Ltd (TSX.V: MON) (“Montero”) has completed a maiden lithium and tin Mineral Resource estimate for the Uis Tailings Project and will file the NI 43-101 Mineral Resource estimate on SEDAR and add this estimate to the Company’s website within 45 days. The Uis Lithium Tin Tailings Project is located in Namibia and consists of large coarse sands and fine slimes tailings deposits on surface. The tailings material represents the waste processed material derived from the Uis pegmatite tin mine and process plant prior to its closure in 1990. The NI 43-101 Mineral Resource estimate is based on the preliminary drilling program of 63 air core drill holes on the coarse and fine tailings material located on the Uis mine site. The quantity and grade of coarse and fine material for six tailings deposits (Zones A to E is shown in Figure 1) were estimated by ordinary kriging. Two commodities were considered in the estimation of the Mineral Resources, lithium (Li2O) and tin (SnO2). Zone A represents the largest tailings deposit and contains coarse tailings material, whilst Zones B to E and Zone A fines represents the fine tailings material. A total Inferred Mineral Resource of 14.4 million tonnes at 0.37% LiO2 and 17.1 million tonnes at 0.05% SnO2 were estimated for the Uis Lithium Tin Tailings Project. This resource consists of 14.4 million tonnes at 0.37% Li2O and 0.05% SnO2 in the coarse tailing material (Zone A or A1 to A3) and 2.7 million tonnes at 0.06% SnO2 in the fine tailing material (Zone B to E and Zone A4 for Zone A fines). Insufficient test work has been completed on lithium extraction from the fine tailings material to include this material as a Mineral Resource at this time. Commodity price, product, mining and processing costs and recoveries, and mining parameters and assumptions informed the determination of the cut-off grades. Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero’s initial Resource estimate is reported as 14.4 million tonnes at 0.37% lithium as Li2O and 17.1 million tonnes at 0.05% tin as SnO2. Further drilling, in-fill drilling and metallurgical test-work will be required to upgrade the Inferred resource announced today to an Indicated resource. Montero will also be evaluating early production scenarios in tandem with upgrading the resource in order to meet expected lithium and tin demand.” | |
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