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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Granite Belt | |
| Location: | Australia | |
| Commodities: | Silver-Gold | |
| Date: | 11/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Mine Development | |
| Report details: | 22-11-2017: Moreton Resources Ltd. announces a Optimisation Study report for its Granite Belt deposit at the Granite Belt project. Optimisation study results incl. LOM strip ratio drop from 1.7/1 to 1/1. Moreton Resources (ASX:MRV) (“Moreton” or “the Comp | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Karen Goh (Mine Planning and Design Services Ltd.) | |
| ABSTRACT: | Moreton Resources (ASX:MRV) (“Moreton” or “the Company”) is pleased to announce that fully owned subsidiary MRV Metals Pty Ltd (“MRV Metals”) has completed an optimisation review of the Granite Belt Mining Strategy for the former Twin Hills Mine, which was previously released to market in our base case restart strategy 3 rd May 2017, on the ASX. Within this document and within our prior release of the Twin Hills JORC upon the 19th September 2016, titled “MRV Metals Pty Ltd confirms significant resource in Twin Hills Mine” on the ASX, it was evident that increase potential was possible within this asset and the Company released our forward looking forecasts upon a base case scenario. As expected opportunities and enhancements were expected through mine planning review, which has now reduced the stripe ratio for LOM by approx. 40%. However in adopting this superior mining strategy, it will bring forward significant waste movement earlier in the mine plan, as we seek to redesign pit access and working ramps, that will allow us to take an optimised strategy to ore removal but maintaining our cut-off grade at 25.5g/t. This strategy will not only recover significantly more ore, but also it will be direct feed to our crushing circuit ROM, which will move away from stockpiling high and low grades, thereby reducing double handling and brining downward pressure upon the over all anticipated production costs in this area. In turn, this will lead to a better forecast financial outcome for LOM of the former Twin Hills pit, which was forecast over 28 months, and now will run for 36 months. The key outcome being reduction in double handling and the increase in minable ore of an additional 1.7MT, which is attainable with no additional anticipated increase in waste movement. | |
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