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TopTung Ltd.
Summary
| Project: | Torrington | |
|---|---|---|
| Deposit: | Wild Kate, Mt Everard | |
| Location: | Australia | |
| Commodities: | Tungsten | |
| Date: | 3/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-3-2018: TopTung Ltd. announces a Resource Estimation report for its Wild Kate, Mt Everard deposit at the Torrington project. Updated mineral resource estimate at the project. The Company has received the final Updated Resource Estimates document from H | |
| Resources: | (Resource, I+I): 0.3414Mt @ 958ppm W for 327.5t W contained at project | |
| CP/QP: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | The Company has received the final Updated Resource Estimates document from H&S Consultants Pty Ltd (H&SC) for the Wild Kate and Mt Everard projects where a comprehensive drilling programme was completed in 2017. The data from this drilling programme completely replaced the previous (historical) drilling. The 2018 estimate for the Wild Kate Prospect show a very significant reduction in the size (-33%) and tungsten grade (-54%) compared to the previous estimates published in August 2015* resulting in a drop in contained tungsten metal from 2,875t to 301t. The 2018 estimate for the Mt Everard Prospect also shows a very significant reduction in the size (-90%) however the tungsten grade has increased (+4%) compared to the previous estimates published in August 2015* resulting in a drop in contained tungsten metal from 367t to 26.5t. The 2018 updated resource estimates are given in full in the attached document. Although the quantum in reduction of the resource estimates was not known prior to completion of the resource estimation report, the Company did upon completion of the drilling on 13 August 2017 alert the market in three separate ASX Announcements to expect a negative outcome for the resource estimation work based on field observations during the drilling programme. These were on 18 August 2017; on 11 October 2017; and, on 6 February 2018 | |
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