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POZ Minerals Ltd.
Summary
| Project: | Blina Diamond | |
|---|---|---|
| Deposit: | Blina Diamond | |
| Location: | Australia | |
| Commodities: | Diamonds | |
| Date: | 11/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-11-2017: POZ Minerals Ltd. announces a Resource Estimation report for its Blina Diamond deposit at the Blina Diamond project. Clarified Exploration target report. POZ Minerals Limited (ASX: POZ) has estimated a maiden JORC compliant Exploration Target | |
| Resources: | Exploration target range incl. 700K to 1M m2 @ 2.3 to 4.1 carats per m2 at project | |
| CP/QP: | [Overall Report]: Jim Richards (Internal) | |
| ABSTRACT: | POZ Minerals Limited (ASX: POZ) has estimated a maiden JORC compliant Exploration Target for alluvial diamonds at the Blina Diamond Project in WA which contains rare fancy yellow diamonds eroded from the Ellendale lamproite field. The Blina Diamond Project in the Ellendale Diamond Province of WA's Kimberley Region is 100% owned by POZ Minerals Limited (‘POZ’ or the ‘Company’). The project consists of four mining leases and two exploration leases within an area of 161 km2, situated 100km east of Derby. A diamond bearing alluvial palaeochannel named Terrace 5 (or ‘T5’) extends over some 40km of the POZ project area, with channel widths from 200m to 500m. POZ is targeting high grade alluvial trap sites within this channel which are most likely to host the highest diamond grades, these trap sites usually occur around the sediment/bedrock interface. POZ Minerals has completed a ground geophysics survey using the latest in Ground Penetrating Radar (GPR) technology and the Company believes it now has a fast and inexpensive breakthrough technique which can discover these trap sites3. In targeting these high grade trap sites, POZ has estimated a JORC (2012) Exploration Target from 700,000 to 1,000,000 cubic metres at a grade range of 2.3 to 4.1 carats per cubic metre, for contained diamonds of between 1.6 to 4.1 million carats.. At a diamond price of US$389 per carat (para 5.0) this equates to a very significant economic target. | |
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