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Renascor Resources Ltd.
Summary
| Project: | Arno | |
|---|---|---|
| Deposit: | Siviour | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 10/26/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2016: Renascor Resources Ltd. announces a Resource Estimation report for its Siviour deposit at the Arno project. Total graphite contained at the project increased by 3.457Mt. Renascor Resources (ASX: RNU) is pleased to announce an upgrade to the JO | |
| Resources: | (Resource, I+I): 60.8Mt @ 7.8% TGC for 4.7Mt Graphite contained | |
| CP/QP: | [Resources]: Christine Standing (Optiro Pty Ltd.) | |
| ABSTRACT: | Renascor Resources (ASX: RNU) is pleased to announce an upgrade to the JORC Mineral Resource for its Siviour graphite deposit located in South Australia’s Eyre Peninsula (see Figure 1) .Reverse circulation and diamond drilling along strike from mineralisation quantified earlier in 2016 has nearly quadrupled the Siviour Mineral Resource estimate to 60.8 million tonnes @ 7.8% Total Graphitic Carbon (TGC) for 4.7 million tonnes of contained graphite .Siviour Mineral Resources include higher-grade mineralisation of 22.2 million tonnes @ 10.0% TGC for 2.2 million tonnes of contained graphite .Shallow dips of the mineralised horizon continue to be noted and attractive potential strip ratios continue to be confirmed .Opportunity to further increase Mineral Resources exists both along and across strike .On-going mineral process test work has advanced sufficiently to confirm that conventional industry mineral processing techniques should enable recovery of Siviour graphite concentrates to marketable specifications in each of the super jumbo, jumbo, large, medium and fine categories .Renascor is funded for its planned next stage work programs, with current cash of ~$2.7m. Upcoming programs will include completion and expansion of ongoing mineral processing studies, further drilling to increase Siviour Mineral Resource portfolio and, upon completion of the foregoing, compilation of Siviour scoping study. Commenting on the revised resource estimate, Renascor Managing Director David Christensen stated: “The resource upgrade confirms Siviour as Australia’s largest graphite deposit, with potential to compete with emerging largescale graphite developments in Africa. Upcoming drilling and mineral processing studies offer additional opportunities to establish Siviour’s potential to become a globally competitive, Australian producer of high quality flake graphite”. | |
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