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Strandline Resources Ltd.
Summary
| Project: | Fungoni | |
|---|---|---|
| Deposit: | Fungoni | |
| Location: | Tanzania | |
| Commodities: | Rutile-Zircon-Ilmenite-Leucoxene | |
| Date: | 1/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 16-1-2017: Strandline Resources Ltd. announces a Resource Estimation report for its Fungoni deposit at the Fungoni project. Upgraded mineral resource estimate, 45% increase in mineral resource. Mineral sands developer, Strandline Resources (Strandline or | |
| Resources: | (Resource, Total): 16Mt @ 3.1% THM | |
| CP/QP: | [Resources]: Greg Jones, Brendan Cummins (IHC-Robbins;Internal) | |
| ABSTRACT: | Mineral sands developer, Strandline Resources (Strandline or the Company) is pleased to provide an update on its 100% owned Fungoni Mineral Sands Project, located near Dar es Salaam in Tanzania. The zircon-rich Fungoni Project is predicated on a low capital cost and low risk operating model to produce saleable titanium and zircon mineral sand products to generate near-term cashflow for the Company. Results from the recent aircore (AC) drilling campaign have significantly increased the contained Heavy Mineral (HM) of the Mineral Resource Estimate, improved JORC classification and confirmed the sizable extent of the high grade portion of the deposit favourably positioned at surface. This announcement summarises the key findings, including the potential strong upside of the immediate North West extension zone (Fungoni NW). Strandline’s Managing Director and CEO, Luke Graham commented, “The Fungoni Mineral Resource upgrade has demonstrated an enhanced ore body in terms of scale, value in the ground and level of JORC classification. The mineral resource provides a strong geological foundation for the feasibility study, with the potential further economical upside from the 2km long Fungoni NW extension anomaly running along strike, as well as other nearby exploration targets in the region. “The Company is excited by the near term project potential of Fungoni as well as progress made through 2016 on the Company’s other strategic exploration and development pursuits in Tanzania and Australia.” | |
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