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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Harrier | |
| Location: | Australia | |
| Commodities: | Copper-Silver | |
| Date: | 7/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2016: Moreton Resources Ltd. announces a Resource Estimation report for its Harrier deposit at the Granite Belt project. Exploration Target estimate for the Harrier prospect. It is with great pleasure the board of Moreton Resources Limited announces | |
| Resources: | Exploration Target: 500Kt - 1.5Mt @ 1.5% - 2.5% Cu, 80g/t - 120g/t Ag at Harrier | |
| CP/QP: | [Overall Report]: Trevor Ellice (Measured Group Ltd.) | |
| ABSTRACT: | It is with great pleasure the board of Moreton Resources Limited announces its second CopperSilver Exploration Target for the Granite Belt Project at the Harrier Prospect (Harrier). As per previous announcements, the Granite Belt Project was acquired through a sales arrangement agreed in January of 2016 and finalised in late May 2016. The Exploration Target at Harrier is in the range of 500,000 to 1,500,000 t at 1.5% to 2.5% copper, and 80 g/t to 120 g/t silver. The potential quantity and grade of the Harrier Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. Details of the data and geological investigation supporting the Exploration Target at Harrier are contained within the following report. In summary, Harrier represents a shallow target that may support recommencement of operations at the Granite Belt Project, given continued exploration success. The Harrier prospect sits some 6-8km to the North-West of the already released Hawker Prospect, which was released by the company earlier today. Of note, is that despite the limited drilling undertaken at the prospect to date, encouraging grades and tonnage potential have been identified. MRV has designed an 18 hole RC drill programme to 150 m depth to follow up untested potential mineralisation and believes this is a diligent next step in further determining the prospectively of this deposit. It is important to note that until the company undertakes further drilling and investigation into this prospect, the potential quality and grade of the Harrier Exploration Target is conceptual in nature, as there has been insufficient exploration to date to estimate a Mineral Resource. | |
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