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Sagon Resources Ltd.
Summary
| Project: | Cummins Range | |
|---|---|---|
| Deposit: | Cummins Range | |
| Location: | Australia | |
| Commodities: | Rare Earth | |
| Date: | 10/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-10-2019: Sagon Resources Ltd. announces a Resource Estimation report for its Cummins Range deposit at the Cummins Range project. Initial mineral resource estimate for project. Australian rare earths developer, Sagon Resources Limited (ASX:SG1) (“Sagon” | |
| Resources: | (Resource, Inf.): 13.0Mt @ 1.13% TREO | |
| CP/QP: | [Resources]: Richard Maddocks (Independent) | |
| ABSTRACT: | Australian rare earths developer, Sagon Resources Limited (ASX:SG1) (“Sagon” or “the Company”) is pleased to announce its Maiden JORC 2012 Mineral Resource for its 100% owned Cummins Range Rare Earths Project located in Western Australia. The Maiden 2012 Inferred Mineral Resource for Cummins Range has been estimated at 13.0Mt at 1.13% Total Rare Earth Oxides (“TREO”) comprising 147,000,000 kg TREO using a cut-off grade of 0.5% TREO. Sagon Executive Director, Jeremy Robinson: “We are pleased to commence with a significant Maiden JORC 2012 Resource which benchmarked against peers offers Sagon an exciting platform to move forward with. The Cummins Range ore-body is open along strike and at depth and we believe we can materially expand the Resource and look forward to the upcoming drilling program”. Sagon considers the mineralisation at Cummins range to have significant potential for expansion. The Resource remain open along strike and at depth with significant scope to expand the Resource with no active exploration recorded since 2012. Cummins Range is one of two known rare earth bearing carbonatites in Australia with the other being Mt Weld owned by Lynas Corporation Ltd. The known Resource occupies a small portion of the Cummins Range Intrusive Complex that is approximately 2km by 2km and this offers significant potential to expand the known Resource. Rare Earth Oxide mineralisation at Cummins Range occurs in a sub-horizontal geometry within a deeply weathered regolith which is developed over carbonatite and pyroxenite rocks. | |
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