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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Twin Hills Heap Leach Pads | |
| Location: | Australia | |
| Commodities: | Silver-Gold | |
| Date: | 4/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 21-4-2017: Moreton Resources Ltd. announces a Resource Estimation report for its Twin Hills Heap Leach Pads deposit at the Granite Belt project. JORC resource estimate for Twin Hills Heaps at the Granite Belt project. Moreton Resources Limited (ASX:MRV) ( | |
| Resources: | (Resource, Inf.): 1.944Mt @ 38.0g/t Ag for 2.374Moz Ag contained at Twin Hills Heaps | |
| CP/QP: | [Resources]: Louis W. Schurmann (Internal) | |
| ABSTRACT: | Moreton Resources Limited (ASX:MRV) (“Moreton”, “the Company”) is pleased to announce the above results from Assay’s and reconciliation data regarding the Granite Belt Project, which has formed the basis of an Inferred Resource as defined by the JORC Code (2012). As the market is aware the Company did attempt to release this data upon the 7th of April 2017. In doing so, the ASX raised what is purports to be compliance issues. The ASX has taken the view that the JORC Code applies to these processing heaps which are at the tail end of the production process. As such in an effort to release this information and keep the market informed, the Company has declared an inferred JORC Compliant resource upon the Heaps, although given the heap leaches are akin to a CIL plant or other processing stage of a Mining operation, we do not agree that this is the appropriate mechanism. This announcement is the results of an auger drilling program on heap leach pads at the former Twin Hills Mining Operation, near the township of Texas in south-western Queensland. The sampling program was completed as part of the due diligence process undertaken by Moreton for the potential purchase of the asset in early 2015. The samples were submitted to ALS Global in February 2015 and whilst the information was utilised previously in a commercial in confidence basis for our attempted purchase in 2015, with further verification work, now form a major part of the MRV Metals restart strategy. | |
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