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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Hornet | |
| Location: | Australia | |
| Commodities: | Copper | |
| Date: | 7/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-7-2016: Moreton Resources Ltd. announces a Resource Estimation report for its Hornet deposit at the Granite Belt project. Exploration Target estimate for the Hornet prospect. It is with great pleasure the board of Moreton Resources Limited announces a | |
| Resources: | Exploration Target: 500Kt - 1.5Mt @ 1% - 2% Cu at Hornet | |
| CP/QP: | [Overall Report]: Trevor Ellice (Measured Group Ltd.) | |
| ABSTRACT: | It is with great pleasure the board of Moreton Resources Limited announces a subsequent Exploration Target for the Granite Belt Project at the Hornet Prospect (Hornet). 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 Hornet is in the range 500,000 to 1,500,000 t at 1% to 2% copper. The potential quantity and grade of the Hornet 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. This is the third identified Copper Target for MRV Metals within the Asset Portfolio, and is extremely encouraging in complementing the already existing JORC Resources, focused upon Silver deposits, within the potential mining prescient. Details of the data and geological investigation supporting the Exploration Target at Hornet are contained within the following report. In summary, Hornet represents a shallow target that may support recommencement of operations at the Granite Belt Project, given continued exploration success. Of note, despite the prospect being at relatively advances stage of exploration significant exploration up side exists as mineralisation has not been closed off by drilling. MRV has designed a 21 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 Hornet Exploration Target is conceptual in nature, as there has been insufficient exploration to date to estimate a Mineral Resource. | |
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