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Symbol Mining Ltd.

opaxe

Summary

Project:

Imperial

Deposit:Macy
Location:Nigeria
Commodities:Zinc-Lead
Date:5/11/2018
Report Code:JORC
Report Type:Scoping Study
Project Stage:Pursuing Resource Increase/Upgrade
Report details:11-5-2018: Symbol Mining Ltd. announces a Scoping Study report for its Macy deposit at the Imperial project. Initial scoping study for Macy deposit. The Macy Deposit is contained within the area of the Mining Lease (ML) application that has been lod
Resources:(Resource, I+I): 132.7Kt @ 18.3% Zn, 2.1% Pb at Macy
CP/QP:[Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.)
ABSTRACT:The Macy Deposit is contained within the area of the Mining Lease (ML) application that has been lodged with the Mines Cadastre Office (MCO) for approval. It is anticipated that the MCO will grant the ML within the statutory 45 days to permit the Company to undertake the operations for the production targets and financial forecasts contained in this Study. The Study assumes that all Minerals and Mining Act & Minerals and Mining Regulation approvals are granted for mining to commence in Q2 as planned. The results of the Scoping Study indicate strong potential for a high-grade-low-capex zinc and lead mining operation. The Scoping Study is completed and it examined all facets of geology, mining, processing and supporting infrastructure at a zinc price of US$3,200/t, lead price of US$2,200/t & mixed product price of US$580/t shipped Lagos with a long-term foreign exchange rate of USD1.00:AUD0.75. All amounts are USD unless otherwise stated.

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