Welcome to Refwin.com Sign In Join Free Home Inquiry Contact Mobile Publications Free E-Weekly News
  • Directory
  • Price
  • Market
  • Buy
  • News
  • Calendar
  • Dictionary
Company News Industry News Refwin in the News Home > News

Metro Mining: Bauxite Hills reserve and resource update

2019-07-17

Jul. 17, 2019 - Metro Mining Limited (ASX:MMI) (“Metro”) is pleased to provide an update with respect to its JORC reserves and resources for the Bauxite Hills mine. 


Highlights:

1. 18.8% increase in Reserve estimate from 92.2Mt to 109.5Mt

2. Potential to extend mine life for an additional 3 years to 2037 

3. Increase in Reserve largely due to additional conversion of existing Resources

4. Current Resource base of 138.2Mt 


Following its first year of mining at Bauxite Hills, Metro has undertaken an update of its JORC Reserve and Resource. The results are displayed in the table below: 



Reserves 

The total Reserve estimate for Bauxite Hills is now 109.5Mt (wet) and takes into account depletion to March 2019 and additional conversion of Resources. The overall increase in Reserves (taking into account depletion by mining) is 17.3Mt or 18.8% from that published in March 2017 (see ASX Announcement 15 March 2017). This has the potential to extend mine life by approximately 3 years to 2037, at the expanded run rate of 6Mtpa (which is subject to Metro Board approval). 


The increase in Reserve is largely due to: 


1. Additional conversion of resources to reserves, particularly from the BH2 area; and

2. Change in moisture assumption from 10% to 12%, reflecting actual conditions gained from operating experience.


Resources 

The total Resource for Bauxite Hills is now 138.2Mt (dry), representing a decrease of 4.6% from March 2017 (see ASX Announcement 15 March 2017). The decrease is due to:


1. Bauxite ore mined to date; 

2. Application of a more conservative dry bulk density of 1.83, reflecting initial mining reconciliations undertaken in 2018; and 

3. Small areas of Inferred Resource being removed as a result of in-fill drilling results, offset by a small area of Indicated Resource at the southern end of the BH6 area. 


The total Measured Resource is now 78.1Mt (dry), representing a 42.8% increase of the Measured category from that published in March 2017, reflecting greater levels of confidence in the Resource. There has also been a slight improvement in alumina and silica grades.


Metro’s Managing Director and Chief Executive Officer Simon Finnis said: 


“We are pleased to report the increase in Reserve, effectively extending the mine life of Bauxite Hills, and the greater level of confidence in the total Resource. There has been strong reconciliation from the results of mining to date and the Resource and Reserve model. The results of this update demonstrate our increased confidence in the project.”

About Us Site Map Service Our Partners Links Inquiry Contact FAQ Privacy Statement Technical Support

Sponsored by: ACRI (The Association of China Refractories Industry), Tangshan YinNaiLian E-Business Co., Ltd.

Copyright © 2005-2020 Refractories Window All Rights Reserved

Tel: +86-315-5918500 Fax: +86-315-5918828 Email: info@refwin.com

ICP经营许可证编号: 冀B2-20060049 ICP备案号: 冀ICP备17015545号

冀公网安备 13024002000198号 营业执照