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Strandline Resources Ltd.
Summary
| Project: | Coburn | |
|---|---|---|
| Deposit: | Coburn | |
| Location: | Australia | |
| Commodities: | Zircon-Rutile-Leucoxene-Ilmenite | |
| Date: | 11/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-11-2018: Strandline Resources Ltd. announces a Resource Estimation report for its Coburn deposit at the Coburn project. Updated mineral resource estimate at the project. Strandline Resources (ASX: STA) is pleased to announce a 64 per cent increase in t | |
| Resources: | (Resource, Total): 1606Mt @ 1.2% THM, 48% Ilmenite, 7% Rutile, 22% Zircon, 5% Leucoxene | |
| CP/QP: | [Resources]: Greg Jones, Brendan Cummins (IHC Robbins;Internal) | |
| ABSTRACT: | Strandline Resources (ASX: STA) is pleased to announce a 64 per cent increase in the Mineral Resource Estimate at its 100 per cent-owned Coburn Mineral Sands project in WA. The new Resource stands at 1.6 billion tonnes at 1.2% Total Heavy Minerals (THM), containing 19.6Mt of Heavy Mineral. This is up from 979Mt at 1.3% THM containing 12.3Mt of Heavy Mineral. The revised Resource is JORC 2012-compliant whereas the previous estimate was JORC 2004-compliant. The Resource Estimate was completed, as part of the current Definitive Feasibility Study (DFS), by experienced independent mineral sand consultants IHC Robbins. The Coburn deposit is defined by a large zircon-titanium enriched dunal system, with a strike length of approximately 35km, a width up to 3km and a maximum thickness of approximately 50 metres. The mineralisation is homogeneous, has a high-value mineral assemblage (dominated by valuable zircon and TiO2 minerals), and a very low slime content (3%), with mineralisation outcropping at surface in places. The upgraded Resource confirms the integrity of the geological model along and across strike, which bodes well for mine plan optimisation which is currently underway as part of the update of the DFS. Importantly the additional 627Mt of mineral resources (mostly Inferred category) extends the main Amy South deposit north along strike. The upgraded Coburn MRE now enables the Company to finalise the remaining DFS activities including mine optimisation and financial analysis for the project. The Company aims to improve the economic metrics and de-risk the commercialisation of Coburn, ready for a development decision early next year. | |
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