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OM Holdings Ltd.
Summary
| Project: | Bootu Creek | |
|---|---|---|
| Deposit: | Bootu Creek | |
| Location: | Australia | |
| Commodities: | Manganese | |
| Date: | 4/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 16-4-2018: OM Holdings Ltd. announces a Resource Estimation report for its Bootu Creek deposit at the Bootu Creek project. Updated mineral resource and ore reserve estimate with restart of mine. The 100% owned Bootu Creek Manganese Mine is located approxi | |
| Resources: | (Reserve, P+P): 7.32Mt @ 20.71% Mn | |
| CP/QP: | [Resources]: Craig Reddell, Carl Chambers (Internal) | |
| ABSTRACT: | The 100% owned Bootu Creek Manganese Mine is located approximately 110km north of Tennant Creek in the Northern Territory, Australia. Production was suspended in December 2015 due to a deterioration in global market conditions for manganese. In February 2017 mining activities re-commenced commensurate with improved market conditions and an outlook for manganese. A total of 4.2 million tonnes of ore was processed through the Bootu Creek processing plant during 2015 and 2017. During 2016 the mine did not operate as it was placed under care and maintenance. Other significant components contributing to the reduced 31 December 2017 Mineral Resource estimate included a reduction in the long-term FOB Darwin price used in the resource estimation, access being restricted to several pits due to backfilling and a shift from the previous regression-based yield formula to yield estimation based on an individual deposit or pit specific basis. Local lower yield estimation in conjunction with a lower FOB Darwin price, has resulted in the removal of the low grade and low yielding Foldnose and Zulu South deposits from the 31 December 2017 Mineral Resource estimate (-1.0 million tonnes). A total of 3.5 million tonnes of ore was mined from Chugga South, Chugga North, Gogo, Shekuma, Tourag, Yaka deposits during 2015 and 2017, and a further 0.7 million tonnes was depleted from Run of Mine (“ROM”) and Secondary Process Plant (“SPP”) ore stockpiles. | |
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