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South32 Ltd.
Summary
| Project: | Cannington | |
|---|---|---|
| Deposit: | Cannington, Cannington Underground | |
| Location: | Australia | |
| Commodities: | Silver-Lead-Zinc | |
| Date: | 8/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 24-8-2017: South32 Ltd. announces a Resource Estimation report for its Cannington, Cannington Underground deposit at the Cannington project. Amended Resource Estimation for the Cannington project. On 24 August 2017, South32 Limited (ASX, LSE, JSE: S32; AD | |
| Resources: | (Reserve, P+P): 23Mt @ 190g/t Ag, 5.56% Pb, 3.49% Zn at Cannington Underground | |
| CP/QP: | [Resources]: Matthew Readford (Internal) | |
| ABSTRACT: | On 24 August 2017, South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) announced to the ASX, changes to its estimates of Mineral Resources and Ore Reserves for the Cannington silver-lead-zinc mine. On page 2 of that release, South32 refers to: A 20% reduction (to 15.6 Mt) in the previously reported underground Mineral Resource at Cannington. The figure in brackets refers to the absolute change and should read a 20% reduction (15.6Mt) rather than “20% reduction (to 15.6Mt)”. The amount of total estimated Mineral Resource as at 30 June 2017 is set out in the tables on page 7 of that release. A 9% increase (to 2Mt) in total estimated underground Ore Reserves at Cannington compared to the previously published 30 June 2016 estimate. The figure in brackets refers to the absolute change and should read a 9% increase (2Mt) rather than “9% increase (to 2Mt)”. The amount of total estimated Ore Reserves as at 30 June 2017 is set out in the Ore Reserves tables on page 8 of that release; and A 31% increase (to 5.4Mt) in the Proved Ore Reserve at Cannington compared to the previously published 30 June 2016 estimate. The figure in brackets refers to the absolute change and should read a 31% increase (5.4Mt) rather than “31% increase (to 5.4Mt)”. The amount of total estimated Proved Ore Reserve as at 30 June 2017 is set out in the Ore Reserves tables on page 8 of that release. The full corrected release is set out below. South32 confirms the remainder of the release remains unchanged and that it is not aware of any new information or data that materially affects the information included in Cannington Mineral Resources and Ore Reserves Update released on 24 August 2017 and that all material assumptions and technical parameters underpinning the estimates of Ore Reserves and Mineral Resources in that release continue to apply and have not materially changed. | |
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