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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Granite Belt | |
| Location: | Australia | |
| Commodities: | Silver-Gold | |
| Date: | 5/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 3-5-2017: Moreton Resources Ltd. announces a Optimisation Study report for its Granite Belt deposit at the Granite Belt project. Re-start Strategy demonstrates an 8 year LOM for Granite Belt . Moreton Resources (ASX:MRV) (“Moreton” or “the Company”) is pl | |
| Resources: | ||
| CP/QP: | [Overall Report]: Nigel Slonker (Internal) | |
| 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 the Re-start Strategy for its Granite Belt project, near the township of Texas in Southern Queensland, demonstrating a financially robust operation capable of producing over a million ounces of Silver a year for an initial period of eight years. As detailed in the extended strategy document (attached), MRV Metals expects to be able to begin Silver production at the Granite Belt project, which includes the former Twin Hills mine previously owned by Alcyone Resources and Macmin Limited, in the second half of 2017 subject to the receipt of outstanding regulatory approvals. The initial production focus is likely to be processing of already highly enriched processing ponds which contain economic values of Silver in sludge and suspended in liquid. MRV Metals intends to recommission the Merrill Crowe circuit at the site to handle the early reinstatement of refining to allow for immediate Silver production whilst environmental remediation and heap leach set-up occurs. Additionally, the heap leach circuit at Twin Hills, which has also been tested and found to contain significant amounts of metal, will be re-irrigated within the first 12 months of operation and become the main source of production at the project. Traditional drill and blast mining would only begin late in year two, with fresh ore from the former Twin Hills pit to be transported to the central processing facility, crushed and screened and stacked for heap leaching. | |
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