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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Hawker | |
| 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 Hawker deposit at the Granite Belt project. Exploration Target estimate for the Hawker prospect. It is with great pleasure the board of Moreton Resources Limited announces it | |
| Resources: | Exploration Target: 100Kt - 500Kt @ 1.0% - 1.5% Cu, 30g/t - 60g/t Ag at Hawker | |
| CP/QP: | [Overall Report]: Trevor Ellice (Measured Group Ltd.) | |
| ABSTRACT: | It is with great pleasure the board of Moreton Resources Limited announces its first Exploration Target for the Granite Belt Project at the Hawker Prospect (Hawker). As per previous announcements, the Granite Belt Project was acquired through a sales arrangement instigated in January of 2016 and finalised in late May 2016. The Exploration Target at Hawker is in the range of 100,000 to 500,000 tonnes at 1.0% to 1.5% copper and 30g/t to 60g/t silver. The potential quantity and grade of the Hawker 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 Hawker are contained within the following report. In summary, Hawker represents a shallow small scale target that may support recommencement of operations at the Granite Belt Project, if supported by continued exploration success. 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 a 9 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 Hawker Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource as defined by the Joint Ore Reserves Committee (JORC) to date. | |
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