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NextSource Materials Inc.
Summary
| Project: | Molo | |
|---|---|---|
| Deposit: | Molo | |
| Location: | Madagascar | |
| Commodities: | Graphite | |
| Date: | 1/15/2019 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Mine Development | |
| Report details: | 15-1-2019: NextSource Materials Inc. announces an EIA/ESIA report for its Molo deposit at the Molo project. Environmental permit received for Molo project. v Marmota (ASX:MEU) is very pleased to announce that it has received detailed 1m assay results from | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | v Marmota (ASX:MEU) is very pleased to announce that it has received detailed 1m assay results from the September drilling program at Aurora Tank (Goshawk: 24 holes). Initial 4m composite results were reported to the ASX on 14 November 2018. The new detailed 1m results from the September 2018 drilling have yielded an outstanding intersection of 88 g/t gold (with duplicate samples at 89 g/t) just 38m from surface in Hole 104 (on the heels of our best 1m intersection of 93 g/t gold located approximately 200m to the east and 32m from surface). Importantly, the 88 g/t result is not just a 1m highlight, but is followed downhole by high-grade gold … averaging 24 g/t gold over 5m (commencing 38m from surface). The new high-grade intersection (Hole 18ATRC104) is open in a number of directions. It is accompanied by elevated arsenic, which is considered to be a pathfinder for primary gold. The new intersections have further increased the lateral footprint of gold mineralisation that is close to the surface and potentially amenable to low-cost open-pittable mining. NextSource President & CEO Craig Scherba commented, “The conditional approval of the Global Environmental Permit is a significant achievement for the Company, and is the culmination of extensive base line studies, community consultations and environmental impact assessments while proactively working with all stakeholders, including the Madagascar government. Our choice to adopt IFC and World Bank Performance Standards during this process reflects NextSource’s commitment to responsible environmental stewardship and will ensure that the Molo Graphite Project will adhere to and operate at the highest international benchmark for environmental standards. The Company would like to thank the staff within the Ministry of the Environment for their diligence in reviewing and supporting NextSources’ Global Environmental Permit application. With the Mining Permit currently being reviewed, the Company expects all required approvals to be in place shortly which will allow NextSource to quickly move towards the financing and construction of the Molo Graphite Project.” | |
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