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Richland Resources Ltd.
Summary
| Project: | Capricorn Sapphire | |
|---|---|---|
| Deposit: | EPM 25973 | |
| Location: | Australia | |
| Commodities: | Sapphire | |
| Date: | 8/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-8-2017: Richland Resources Ltd. announces a Resource Estimation report for its EPM 25973 deposit at the Capricorn Sapphire project. Initial Resource Estimate for EPM 25973. Richland (AIM: RLD), the gemstones producer and developer, is pleased to announc | |
| Resources: | (Resource, Inf.): 87.5 million Carats of Sapphire at EPM 25973 | |
| CP/QP: | [Resources]: Ross McMaster (Independent) | |
| ABSTRACT: | Richland (AIM: RLD), the gemstones producer and developer, is pleased to announce a maiden independent JORC resource estimate for the group's wholly owned EPM 25973 exploration licence, located in Queensland, Australia. The Company is pleased to announce that it has received an independent Maiden JORC resource estimate in respect of exploration licence EPM 25973, held by its wholly owned subsidiary, Capricorn, which was commissioned earlier this year. As announced previously, the exploration licence was granted by the Queensland Government in November 2015 and is located adjacent to known sapphire producing areas and RA1 Areas (restricted areas earmarked for sapphire mining and fossicking with the grant of exploration licences within the area prohibited). This exploration licence, together with the EMP 25978 licence awarded at the same time, were previously identified and selected as hosting sapphire bearing palaeo-alluvial terraces with adjoining reworked colluvial and alluvial deposits. Historical sampling of the terraces by third parties recovered sapphire samples from the basal gravels.Licence EPM 25973 has an exploration area of 39 sub-blocks (133 square kilometres) located within the Anakie sapphire deposit in Central Queensland which is within 45km of the Company's existing Capricorn Sapphire mining operations. | |
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