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Strandline Resources Ltd.
Summary
| Project: | Fungoni | |
|---|---|---|
| Deposit: | Fungoni | |
| Location: | Tanzania | |
| Commodities: | Rutile-Zircon-Ilmenite | |
| Date: | 11/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-11-2016: Strandline Resources Ltd. announces an Exploration/Drilling Update report for its Fungoni deposit at the Fungoni project. Drilling results incl. 15m @ 10.4% THM. Mineral sands developer, Strandline Resources (Strandline or the Company) is plea | |
| Resources: | (Resource, Ind.): 2.4Mt @ 8.3% HM (2.8% HM cut-off) | |
| CP/QP: | [Overall Report]: Mark Alvin, Brendan Cummins (Internal) | |
| ABSTRACT: | Mineral sands developer, Strandline Resources (Strandline or the Company) is pleased to provide an update on its current exploration and feasibility programme relating to the high grade 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. The Company has completed an aircore infill and extension drilling campaign of Fungoni’s main ore body and assay results have now been received. The assay results have confirmed the high grade core of the deposit with extensions also confirmed north and south. This announcement summarises the key findings. Strandline’s Managing Director and CEO, Luke Graham commented, “The assay results from the recent drilling programme confirms the very high grade nature of the Fungoni deposit and bodes well for an enhanced Mineral Resource in terms of scale, grade and JORC upgrade. These results should positively impact project economics, with potential further upside from the 2km long northwest extension anomaly and other nearby targets“. | |
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