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Oro Verde Ltd.
Summary
| Project: | Makuutu | |
|---|---|---|
| Deposit: | Makuutu | |
| Location: | Uganda | |
| Commodities: | Rare Earth | |
| Date: | 3/10/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-3-2020: Oro Verde Ltd. announces a Resource Estimation report for its Makuutu deposit at the Makuutu project. Initial Mineral Resource at Makuutu. Oro Verde Limited (“Oro Verde” or “the Company”) (ASX: OVL) is pleased to advise that it has complet | |
| Resources: | (Resource, Inf.): 47.3Mt @ 910ppm TREO | |
| CP/QP: | [Resources]: Daniel Saunders (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Oro Verde Limited (“Oro Verde” or “the Company”) (ASX: OVL) is pleased to advise that it has completed the maiden Mineral Resource Estimate (“MRE”) for the Makuutu Rare Earth Element (REE) project located in Uganda, Africa. The Maiden Mineral Resource Estimate (MRE) for the Makuutu Rare Earth Project was prepared by independent specialist resource and mining consulting group, Cube Consulting Pty Ltd (“Cube”). A summary of the mineral resource estimate derived is shown in Table 1. The Mineral Resource has been compiled using a 500 ppm TREO minus Ce2O3 marginal cut-off grade. This cut-off has been selected based on published information from more advanced projects with comparable mineralisation and conceptual processing method. The grade-tonnage relationship of the resource, for various cut-off grades, is illustrated in Figure 1, and a Table summarising the resource estimate at various cut-off grades is included in Appendix 2. Estimates were also made of the uranium and thorium content. Both are found in low concentrations in the deposit with uranium averaging 30 ppm U3O8 and thorium 30 ppm ThO2. These are not considered to be at significant levels. | |
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