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Strandline Resources Ltd.
Summary
| Project: | Fungoni | |
|---|---|---|
| Deposit: | Fungoni | |
| Location: | Tanzania | |
| Commodities: | Rutile-Zircon-Ilmenite-Leucoxene | |
| Date: | 5/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-5-2017: Strandline Resources Ltd. announces a Resource Estimation report for its Fungoni deposit at the Fungoni project. Updated mineral resource estimate- 27% increase in contained Heavy Mineral. Mineral sands developer, Strandline Resources (Strandlin | |
| Resources: | (Resource, Total): 21.74Mt @ 2.82% THM at 1% cut -off | |
| 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 Heavy Mineral Sands (HMS) Project, located near Dar es Salaam in Tanzania. This update to the Fungoni Mineral Resource estimate includes the recently discovered Fungoni NW extension zones adding significant HM tonnage to the ore-body. The mining study, currently underway, will incorporate this new Resource and targets a substantial improvement to the previous Fungoni study in terms of mining rate, HM tonnage, mine life and ultimately project economics. Strandline’s Managing Director and CEO, Luke Graham commented, “The Company hassuccessfully doubled the size of the Fungoni Mineral Resource estimate since the start of the year, from 11Mt to now 22Mt, and significantly increased the contained HM available for DFS level mine optimisation. “The Company expects strong conversion to Ore Reserve of the higher grade upper zones where the majority of valuable, high quality heavy minerals reside. The visual resultsfrom the recent soil sampling exercise in proximity to the Fungoni Project is also encouraging, showing potential to further expand Resources in the area over time. “The Company is excited by the near term project potential of Fungoni as well as progress made on the Company’s other strategic project pursuits in Tanzania in an improving Mineral Sands Market.” | |
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