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Orocobre Ltd.
Summary
| Project: | Tincalayu | |
|---|---|---|
| Deposit: | Tincalayu | |
| Location: | Argentina | |
| Commodities: | Boron | |
| Date: | 11/18/2014 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-11-2014: Orocobre Ltd. announces a Resource Estimation report for its Tincalayu deposit at the Tincalayu project. Initial JORC-compliant mineral resource for project. Orocobre Limited (ORE:ASX, ORL:TSX) (“Orocobre” or “the Company”) is pleased to annou | |
| Resources: | (Resource, I+I): 6.5Mt @ 13.9% B2O3 (5.6% B2O3 cut-off) | |
| CP/QP: | [Resources]: Murray Brooker (Independent) | |
| ABSTRACT: | Orocobre Limited (ORE:ASX, ORL:TSX) (“Orocobre” or “the Company”) is pleased to announce the upgrade of a historical estimate to an Indicated and Inferred Resource for the Tincalayu borate mine in Salta Province, Argentina. This mine is located on the Tincalayu Peninsula, adjacent to the Hombre Muerto salar, within 17 mining leases owned by the 100% Orocobre subsidiary Borax Argentina. Independent, Qualified/Competent Person, Murray Brooker has estimated an Indicated and Inferred resource of 6.5 million tonnes at 13.9% B2O3 at the a marginal cut-off of 5.6% B2O3, which increases to 17.8 million tons of 11.0% B2O3, at a marginal cut-off grade of 2.8% B2O3. These cut-offs have been generated by undertaking Whittle pit modelling and reflect the breakeven grade for a tonne of ore at the point of exit from the open pit assuming no throughput limitations in ore processing. Further studies are likely to result in a higher cut-off being applied in an optimised mining operation and in a reserves estimate. This compares to a superseded historical estimate of 1.85 million tonnes at 17.2% B2O3 estimated at a 12% B2O3 cut-off and adjusted for mining depletion to 2011.The superseded historical estimate was originally reported on the 21st of August 2012, at the time of the announcement of the Company’s purchase of Borax Argentina. The majority of the mineral tincal (also referred to as borax) is hosted within a sand matrix, from which is separated in the processing plant to produce the Borax Decahydrate mineral product. | |
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