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Superior Lake Resources Ltd.
Summary
| Project: | Superior Lake | |
|---|---|---|
| Deposit: | Superior Lake | |
| Location: | Canada | |
| Commodities: | Zinc-Copper-Silver-Gold | |
| Date: | 8/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-8-2019: Superior Lake Resources Ltd. announces a Resource Estimation report for its Superior Lake deposit at the Superior Lake project. Initial ore reserve declared for project. Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Compan | |
| Resources: | (Reserve, Prob.): 1.96Mt @ 13.9% Zn, 0.6% Cu, 0.2g/t Au, 26.2g/t Ag | |
| CP/QP: | [Overall Report]: Benjamin Wilson (Orelogy Consulting Pty Ltd.) | |
| ABSTRACT: | Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Company”) is pleased to announce its maiden Ore Reserve estimate for its Superior Lake Zinc Project (“Project”) in Ontario, Canada. The Ore Reserve estimate is reported in accordance with JORC Code (2012) and incorporate the results of a Bankable Feasibility Study (“BFS” or the “Study”), the results of which are being released contemporaneously with the Ore Reserve. With the exception of the mined tonnes and grade, the information included in this announcement, including forecast financial information, is consistent with the data of the BFS. The Ore Reserves assume that the Project commences at a throughput of 1,000 tonnes per day with a nineyear mine life, based on the mine design generated in the BFS. The mine design utilised extensive underground optimisation work, inclusive of geotechnical inputs, ground conditions, metallurgical testwork, environmental studies and detailed mine scheduling. Mining costs were based on an estimate completed by Perth based mining consultant Orelogy Consulting and referenced against several Schedule of Rates received from selected international and local mining contractors in Canada. Plant and General and Administration costs were completed by Perth based Primero and based on quotes received from multiple suppliers as part of the BFS enquiry process. Ore Reserves are reported above an average NSR cut-off grade of U$98/t (equivalent to 5.2% Zn). | |
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