Mineral resource classification

Simandou iron ore project update

Retrieved on: 
Tuesday, December 5, 2023

Rio Tinto will provide an update today at its Investor Seminar on the world class Simandou iron ore project in Guinea, which is being progressed in partnership with CIOH, a Chinalco-led consortium, Winning Consortium Simandou1 (WCS), Baowu and the Republic of Guinea.

Key Points: 
  • Rio Tinto will provide an update today at its Investor Seminar on the world class Simandou iron ore project in Guinea, which is being progressed in partnership with CIOH, a Chinalco-led consortium, Winning Consortium Simandou1 (WCS), Baowu and the Republic of Guinea.
  • Simandou is the world’s largest untapped high-grade iron ore deposit.
  • 3 Refer to “Simandou Mineral Resources and Ore Reserves” section at page 4 below.
  • Based on Wood Mackenzie and CRU average pricing for iron ore (65% grade), with a premium applied for DR product.

Rio Tinto progresses Rhodes Ridge to next study phase

Retrieved on: 
Monday, December 4, 2023

Rio Tinto has approved a $77 million (A$110 million) pre-feasibility study (PFS) to progress development of the Rhodes Ridge project, one of the world’s best undeveloped iron ore deposits, in the East Pilbara in Western Australia.

Key Points: 
  • Rio Tinto has approved a $77 million (A$110 million) pre-feasibility study (PFS) to progress development of the Rhodes Ridge project, one of the world’s best undeveloped iron ore deposits, in the East Pilbara in Western Australia.
  • The PFS is expected to be completed by the end of 2025 and will be followed by a feasibility study.
  • Rio Tinto is planning to spend more than A$400 million on exploration over five years from 2024 to 2028 as part of the ongoing study phases.
  • Last year, Rio Tinto (50 per cent) and Wright Prospecting Pty Ltd (50 per cent) agreed to modernise the joint venture covering the Rhodes Ridge project, located 40 kilometres north-west of Newman.

Uranium Energy Corp Reports S-K 1300 Initial Assessment and Economic Study for the Alto Paraná Titanium Project

Retrieved on: 
Monday, November 13, 2023

Alto Paraná Titanium Project is a world-class project with a combined Regional Resource of 3.6 billion tonnes, grading at 7.3% TiO2.

Key Points: 
  • Alto Paraná Titanium Project is a world-class project with a combined Regional Resource of 3.6 billion tonnes, grading at 7.3% TiO2.
  • We are delighted to present an initial economic evaluation of the Project that provides a pathway forward in unlocking its substantial value.
  • The study confirms Alto Paraná as one of the highest grade and largest known ilmenite deposits on the globe with compelling economics.
  • The Alto Paraná Titanium Project Initial Assessment examined a base case and a more tentative stretch case for production of high titania slag and high purity pig iron.

NORGE MINING PLC (“Norge Mining” or the “Company”): JORC Resource at Skeipstad Confirms High Grade Vanadium and Titanium

Retrieved on: 
Monday, October 9, 2023

Magnetite (Fe3O4) has, however, been reported for the first time in the latest 2023 resource as testwork has indicated this does have the potential to be recovered.

Key Points: 
  • Magnetite (Fe3O4) has, however, been reported for the first time in the latest 2023 resource as testwork has indicated this does have the potential to be recovered.
  • After the roast/leach test work the vanadium in solution was purified and calcined to produce commercial grade vanadium pentoxide.
  • The overall recovery of vanadium as vanadium pentoxide achieved in this testwork from the magnetite concentrate to (calcined) vanadium pentoxide was in the range of 72% to 80%.
  • This geology has resulted in particularly high grades of vanadium and titanium, the quality of which brings the potential for economic extraction by a combination of open pit and underground mining.

NORGE MINING PLC (“Norge Mining” or the “Company”): JORC resource at Storeknuten doubles to almost 2 billion tonnes

Retrieved on: 
Monday, October 9, 2023

The tonnage reported has also been restricted to those blocks which exceeds a Net Smelter Return (NSR) cut-off of USD 16.3/t.

Key Points: 
  • The tonnage reported has also been restricted to those blocks which exceeds a Net Smelter Return (NSR) cut-off of USD 16.3/t.
  • SRK has treated the Storeknuten Hillfort and Eiaveien Road as limiting factors in reporting open pit Mineral Resource (i.e.
  • No other environmental and social risks and issues have been used to limit the reporting of Mineral Resource according to the RPEEE criteria at this stage.
  • Mineral Resources are not Ore Reserves and do not have demonstrated economic viability, nor have any mining Modifying Factors been applied.

Denarius Metals Announces Conversion of 73% of Resources to the Indicated Category in Its Updated Mineral Resource Estimate for Its Lomero Project in Spain

Retrieved on: 
Monday, September 18, 2023

The Phase 2 and Phase 3 drilling campaigns have successfully converted approximately 73% of the initial inferred MRE to the Indicated Mineral Resources category.

Key Points: 
  • The Phase 2 and Phase 3 drilling campaigns have successfully converted approximately 73% of the initial inferred MRE to the Indicated Mineral Resources category.
  • The updated Mineral Resource for the Lomero Project with an effective date of July 31, 2023 is shown in Table 1 below.
  • The Mineral Resources have been reported based on Copper Equivalent ("CuEq") with the key assumptions included in the table.
  • Table 1: SRK CIM Compliant Mineral Resource Statement effective July 31, 2023 for the Lomero Project, Spain, reported based on Copper Equivalent CuEq (2)

Defense Metals Upgrades and Expands Mineral Resource Estimate for Wicheeda Rare Earth Element Project

Retrieved on: 
Tuesday, September 12, 2023

Table 1: Wicheeda Mineral Resource (effective date August 28, 2023)

Key Points: 
  • Table 1: Wicheeda Mineral Resource (effective date August 28, 2023)
    The 2023 MRE is classified according to the CIM "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines" dated November 29th, 2019 and CIM "Definition Standards for Mineral Resources and Mineral Reserves" dated May 10th, 2014.
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  • There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future.
  • Mineral resources that are not mineral reserves do not have demonstrated economic viability.

MOU signed with Compagnie des Bauxites de Guinée for Gaoual Bauxite Project

Retrieved on: 
Monday, September 4, 2023

SYDNEY, Sept. 3, 2023 /PRNewswire/ -- Lindian Resources Limited (ASX:LIN) ("Lindian" or "the Company") is pleased to confirm that it has signed a Memorandum of Understanding ('MOU') with Compagnie des Bauxites de Guinée (CBG), to explore the supply of bauxite from its Gaoual project to add to CBG's annual bauxite production through a possible sales contract between the Parties. The MOU provides the framework for the parties to:

Key Points: 
  • They have exceptional pedigree as one of the world's most respected and largest bauxite producers and suppliers.
  • We have been advancing discussions with them for a number of years on the potential development of Guinea's next Conglomerate Bauxite project and this MOU marks a very meaningful step in this process.
  • SYDNEY, Sept. 3, 2023 /PRNewswire/ -- Lindian Resources Limited (ASX:LIN) ("Lindian" or "the Company") is pleased to confirm that it has signed a Memorandum of Understanding ('MOU') with Compagnie des Bauxites de Guinée (CBG), to explore the supply of bauxite from its Gaoual project to add to CBG's annual bauxite production through a possible sales contract between the Parties.
  • The Mineral Resource statement for the Gaoual Bauxite Project was prepared by Mr Mark Gifford, an independent Geological expert consulting to Lindian Resources Limited.

Contango Announces Commencement of Mining Operations at Manh Choh Mine and Re-Start of Drilling at Lucky Shot Mine

Retrieved on: 
Wednesday, August 30, 2023

In addition, the Company has initiated a surface drilling program at its 100% owned Lucky Shot project.

Key Points: 
  • In addition, the Company has initiated a surface drilling program at its 100% owned Lucky Shot project.
  • View the full release here: https://www.businesswire.com/news/home/20230829018948/en/
    Figure 1: Photo of the CAT 6030 shovel loading a 777 CAT (85 ton) haul truck at Manh Choh Mine.
  • The opening at the Manh Choh mine was officially celebrated with a ground-breaking ceremony on August 29th.
  • Future drilling of approximately 12,000 meters (39,000 feet) from underground at Lucky Shot is expected to be undertaken in 2024 to augment resources on the Lucky Shot Segment of the vein.

Callinex Announces High-Grade Copper Maiden Mineral Resource Estimate at its Pine Bay Project in Manitoba

Retrieved on: 
Monday, July 10, 2023

The inferred mineral resource in this resource estimate has a lower level of confidence than that applied to an indicated mineral resource and must not be converted to a mineral reserve.

Key Points: 
  • The inferred mineral resource in this resource estimate has a lower level of confidence than that applied to an indicated mineral resource and must not be converted to a mineral reserve.
  • It is reasonably expected that a majority of the inferred mineral resource could be upgraded to an indicated mineral resource with continued exploration.
  • Copper equivalent resources for the Pine Bay Project were calculated using the following metal prices: Cu at US$3.25/lb, Zn US$1.20/lb, Au at US$1,850/oz, Ag at US$22.50/oz.
  • The Pine Bay Project, consists of a group of 77 contiguous mineral claims (dispositions) and one Mineral Lease totaling 6,795 hectares.