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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Hayes Creek | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 5/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 3-5-2017: PNX Metals Ltd. announces a Resource Estimation report for its Hayes Creek deposit at the Hayes Creek project. 85% of resource is in the Indicated category and Resource exceeds 1.1Moz gold equivalent. Mineral Resource upgraded: PNX Metals Limite | |
| Resources: | (Resource, I+I): 4.1Mt @ 4.35% Zn, 1.81 g/t Au, 124 g/t Ag, 0.91% Pb, and 0.25% Cu at project | |
| CP/QP: | [Resources]: Aaron Meakin, Andrew Bennett (CSA Global Pty Ltd.;Internal) | |
| ABSTRACT: | Mineral Resource upgraded: PNX Metals Limited (ASX:PNX) is pleased to announce an update to the total Mineral Resources at its 100% owned Hayes Creek Project containing the Iron Blow and Mt Bonnie zinc-goldsilver deposits, which are located on granted Mineral Leases (Figures 1 and 6) within the Pine Creek region of the Northern Territory. This update follows completion of a Mineral Resource estimate for the Iron Blow deposit reported by independent mining consultancy group CSA Global Pty Ltd (“CSA Global”) in accordance with the JORC Code2 (Table 1). A summary report prepared by CSA Global also forms part of this ASX release (refer Appendix), including JORC Table 1. PFS on track: Together, the Iron Blow and Mt Bonnie (see ASX release 09 February 2017) 3 deposits form the Hayes Creek Project. The total Mineral Resources are summarised below (Tables 2 and 3) and will be used as the basis for the Preliminary Feasibility Study (PFS) due for completion mid-2017. The Hayes Creek Project now hosts total Indicated (84.7%) and Inferred (15.3%) Mineral Resources. The Indicated component of the total Project Mineral Resource continues to support the Company’s aim of developing a low cost operation capable of generating strong financial returns. | |
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