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Turquoise Hill Resources Ltd.
Summary
| Project: | Oyu Tolgoi | |
|---|---|---|
| Deposit: | Oyu Tolgoi | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 7/2/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-7-2020: Turquoise Hill Resources Ltd. announces a Resource Estimation report for its Oyu Tolgoi deposit at the Oyu Tolgoi project. Updated Resources and Reserves for Project. Turquoise Hill Resources Ltd. (“Turquoise Hill” or the “Company”) today announ | |
| Resources: | (Reserves, P+P): 1.272Bt @ 0.81% Cu, 0.29g/t Au, 1.87g/t Ag | |
| CP/QP: | [Resource] Michael Thomas, Roderick Carlson (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Turquoise Hill Resources Ltd. (“Turquoise Hill” or the “Company”) today announced its updated Mineral Resources and Mineral Reserves, prepared in accordance with the requirements of National Instrument 43- 101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and CIM definition standards for Mineral Resources and Mineral Reserves (2014), an improved liquidity outlook and deferral of the Company’s interim financing discussions. The Company’s updated Mineral Resources and Mineral Reserves are being announced further to the completion of an updated Oyu Tolgoi Feasibility Study (“OTFS20”) that incorporates the new mine design for Hugo North Lift 1 Panel 0. This new design reduces the Mineral Reserve estimate for the Hugo North underground mine due to the inclusion of two structural pillars, to the north and south of Panel 0 to protect ore handling infrastructure. The Company’s project manager has advised that it is expected that part of the ore contained in these pillars will be recoverable at a later stage following additional studies which are currently underway. Pending the completion of this work in 2021, the material contained in the pillars has been converted from Mineral Reserves to Mineral Resources. The Mineral Resources and Mineral Reserves also include minor updates to the Oyut open pit resource model and account for depletions to December 31, 2019, as disclosed in the Company’s Annual Information Form for the year ended December 31, 2019 (“2019 AIF”). | |
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