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Vimy Resources Ltd.
Summary
| Project: | Mulga Rock | |
|---|---|---|
| Deposit: | Ambassador | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 6/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-6-2016: Vimy Resources Ltd. announces a Resource Estimation report for its Ambassador deposit at the Mulga Rock project. Updated Ambassador deposit resource estimate; 30.3Mt @ 590ppm U3O8 for 39.2Mlbs U3O8 at Ambassador. Vimy Resources Limited (“Vimy” | |
| Resources: | (Reserve, Prob.): 15.2Mt @ 660ppm U3O8 for 22.1Mlbs U3O8 contained at Mulga Rock | |
| CP/QP: | [Resources]: Ingvar Kirchner (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Vimy Resources Limited (“Vimy” ASX: VMY) is pleased to announce the results from the updated Ambassador Resource Estimate for its Mulga Rock Project (MRP). The estimate was completed inhouse and validated by the independent resource consultant, AMC Consultants. The estimate is based on an extensive in-fill drill program completed and announced earlier this year. The Ambassador resource currently makes up more than half of the total uranium Mineral Resource for the MRP, and the significant increase in the proportion of Indicated Mineral Resource in the resource base will underpin the Ore Reserve update that will support the Definitive Feasibility Study (DFS) currently in progress. The Mulga Rock Project is 100% owned and operated by Vimy and lies approximately 240km east northeast of Kalgoorlie, situated on two granted Mining Leases (ML39/1080 and ML39/1081). Vimy holds title to approximately 757 square kilometres of exploration ground across the MRP. The Mulga Rock East Deposit comprises the Princess and Ambassador resources and will form the first stage of the potential mine development for the Mulga Rock Project (Figure 1). The Ambassador resource is a large, flat-lying deposit that is approximately 9km in length and 1km wide. It has been extensively drilled with 1,331 aircore and reverse circulation (RC) holes completed for a combined total depth of 89,498 metres, and 288 diamond holes for 16,062 metres. A complete list of all drill-hole co-ordinates is appended at the end of this release. | |
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