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Renascor Resources Ltd.
Summary
| Project: | Arno | |
|---|---|---|
| Deposit: | Siviour | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 12/7/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-12-2018: Renascor Resources Ltd. announces an Exploration/Drilling Update report for its Siviour deposit at the Arno project. Drilling results incl. 39.0m @ 9.1% TGC from 29m. Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to report assay r | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: G.W McConachy (Internal) | |
| ABSTRACT: | Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to report assay results from the final 31 holes in its recent drilling as part of the Definitive Feasibility Study (DFS) into the development of the high-grade Siviour Graphite Project in South Australia. The drill assays received from this final batch of holes intersected further near-surface, high-grade graphite, confirming the continuity of widespread, shallow and high-grade graphite within the Siviour Indicated Resource. The results also include multiple intersections of near-surface, high-grade graphite in areas immediately adjacent to the initial pit designs from Siviour Pre-Feasibility (PFS), suggesting potential to expand the initial pits and to decrease in the projected mining cost in the Siviour DFS. Commenting on the drill results, Renascor Managing Director stated: “Siviour continues to deliver outstanding drill results, highlighting an increased confidence of its world-class quality and demonstrating the unique advantages of the project due to the abundance of shallow, high-grade graphite. We are particularly pleased to have seen consistently high-quality drill intersections in areas that will likely extend our initial pit outlines and improve project economics as we proceed with the Siviour DFS.” Renascor has now received all assays results from its recently completed infill drill program. The primary aim of this program has been to increase the confidence in the Indicated Resource for the Siviour DFS by undertaking close-spaced drilling to test the continuity of graphite mineralisation. Drilling was carried out a 50-metre grid spacing, infilling the area earmarked for the commencement of mining operations in the Siviour PFS, over which drilling had previously been completed over a 200-metre by 100-metre grid. See Figure 1 and Renascor ASX announcement dated 14 March 2018. The program comprised two phases. The first phase consisted of 99 reverse circulation (RC) and air core drill holes for 4,631 metres. The second phase consisted of 15 diamond holes drilled for 837 metres. Six of the diamond drill holes (18SIVDD125, 128, 130, 132, 135 and 139) were drilled to the north, down dip of the orebody, to assist with structural data for geotechnical studies for the DFS. As previously reported, results from the initial holes assayed from the first phase of drilling were consistent with earlier drill results across the mineralised zones, supporting the continuity of widespread and high-grade graphite within the Siviour Indicated Resource. See Renascor ASX Announcements dated 7 November 2018 and 14 November 2018. These final drill assays for the infill program, together with the previously reported assays in the DFS drill program, confirm with increased confidence the continuity of shallow, highgrade graphite. | |
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