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Verdant Minerals Ltd.
Summary
| Project: | Ammaroo | |
|---|---|---|
| Deposit: | Ammaroo | |
| Location: | Australia | |
| Commodities: | Phosphate | |
| Date: | 3/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 15-3-2017: Verdant Minerals Ltd. announces a Resource Estimation report for its Ammaroo deposit at the Ammaroo project. Updated Mineral Resource Estimate for Ammaroo. Verdant Minerals Ltd is pleased to announce a significant uplift of the Indicated Resour | |
| Resources: | (Resource, Total): 1.141Bt @ 14% P2O5, 6.5% Fe2O3 at project | |
| CP/QP: | [Resources]: Jonathon Abbott (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Verdant Minerals Ltd is pleased to announce a significant uplift of the Indicated Resource at its flagship Ammaroo Phosphate Project. The Project is located in the southern Georgina Basin, 280 km northeast of Alice Springs and 240 km southeast of Tennant Creek in the Northern Territory. The Resource upgrade follows a 2016 drilling campaign designed to increase the Mineral Resource category of the central northern part of the phosphate resource from Inferred to Indicated. This infill drilling was required to enable mine planning at a Bankable Feasibility level of accuracy in the shallowest, potentially most easily mined, part of the resource which also contains low levels of potentially deleterious iron. MPR Geological Consultants Pty Ltd (MPR) reviewed the reliability of drilling information and estimated Mineral Resources for the Ammaroo Phosphate Deposit as per JORC 2012 guidelines. Their study included 201 reverse circulation (RC) holes and 29 diamond cored holes drilled since MPR last estimated resources for the project in December 2014. The current estimates are based on data from RC and diamond drilling completed by Rum Jungle Resources Ltd (now Verdant Minerals Ltd) and Central Australian Phosphate Pty Ltd (now a subsidiary of Verdant Minerals Ltd) since 2010. Subset to the study area, the compiled database contains 3,584 RC holes and 116 diamond holes for 113,456 metres of drilling. RC holes were drilled at spacings varying from 50 by 50 metres in several central areas of the deposit to around 400 by 400 metres for much of the resource area with broader sampling in peripheral areas. Diamond holes were generally drilled in close proximity to RC holes and were primarily intended to provide samples for density measurement and comparison with RC results. | |
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