AMG Advanced Metallurgical Group N.V. Announces Tantalum Mineral Resources Update at Volte Grande Mine
(Thomson Reuters ONE) -
Amsterdam, 22 April 2013 --- AMG Advanced Metallurgical Group N.V. ("AMG",
EURONEXT AMSTERDAM: "AMG") announces that AMG Mineração, a subsidiary of AMG
Mining, has updated its mineral resource estimates for its Volte Grande mine in
Brazil in accordance with CIM Definition Standard and Canadian Securities
Administrators' National Instrument 43-101 ("NI 43-101") Guidelines.
The Technical Report on Mineral Resources states that AMG Mineração's Volte
Grande mine has 14.7 million tons of measured and indicated resources. Those
resources include tantalum, niobium, tin and lithium. This report is based upon
drillings and research done during the 2011-2012 core drilling campaign and
certain economic assumptions that reflect today's current market prices and
extraction costs.
Compared to the previous Mineral Resource Statement, which was completed in
2010:
* the measured and indicated mineral resource for the Volte Grande project
increased by 8.9 million tons, to 14.7 million tons, an increase of
approximately 150%,
* the inferred mineral resource increased by 4.0 million to 4.7 million tons,
an increase of approximately 550%, and;
* the combined measured, indicated and inferred mineral resource increased by
12.9 million tons to 19.3 million tons, an increase of approximately 200%.
AMG estimates that the current life of the mineral resource is approximately 20
years, based upon current tantalum concentrate production levels, extraction and
processing costs, and current economic conditions. The detailed table of the
mineral resources is below:
+------------------------------------------------------------------------------+
| Table 1.5_1 |
| AMG - Volta Grande Project |
| Table of Mineral Resources (01/01/2013) - Applied cut-off : 69 ppm Ta |
| Block Model 25m x 25m x 5m (Sub-blocks: 6.25m x 6.25m x 1.25m) |
+------------+-------------+--------+-------+--------+-------+--------+--------+
|Resource |Mineralized |Volume |Tons |Ta (ppm)|Nb |Sn (ppm)|Li (ppm)|
| |body |(Mm³) |(Mt) | |(ppm) | | |
+------------+-------------+--------+-------+--------+-------+--------+--------+
| |Corpo A | 0.91 | 2.50 |275.26 |55.59 |294.92 |3,321.48|
|Measured +-------------+--------+-------+--------+-------+--------+--------+
| |Corpo F | 0.03 | 0.07 |529.11 |49.27 |336.57 |2,172.25|
+------------+-------------+--------+-------+--------+-------+--------+--------+
| Sub Total | 0.94 | 2.57 |282.41 |55.42 |296.09 |3,289.12|
+--------------------------+--------+-------+--------+-------+--------+--------+
| |
+------------+-------------+--------+-------+--------+-------+--------+--------+
| |Corpo A | 3.48 | 9.40 |340.37 |56.57 |262.15 |3,298.32|
| +-------------+--------+-------+--------+-------+--------+--------+
|Indicated |Corpo C | 1.03 | 2.68 |267.02 |64.18 |576.47 |3,810.72|
| +-------------+--------+-------+--------+-------+--------+--------+
| |Corpo F | 0.02 | 0.06 |688.12 |55.48 |348.12 |2,917.27|
+------------+-------------+--------+-------+--------+-------+--------+--------+
| Sub Total | 4.54 |12.15 |325.90 |58.25 |332.03 |3,409.66|
+--------------------------+--------+-------+--------+-------+--------+--------+
| |
+------------+-------------+--------+-------+--------+-------+--------+--------+
| |Corpo A | 4.39 |11.90 |326.69 |56.36 |269.04 |3,303.19|
| +-------------+--------+-------+--------+-------+--------+--------+
|Measured + |Corpo C | 1.03 | 2.68 |267.02 |64.18 |576.47 |3,810.72|
|Indicated +-------------+--------+-------+--------+-------+--------+--------+
| |Corpo F | 0.05 | 0.13 |601.46 |52.10 |341.83 |2,511.26|
+------------+-------------+--------+-------+--------+-------+--------+--------+
| Sub Total | 5.47 |14.72 |318.29 |57.75 |325.75 |3,388.58|
+--------------------------+--------+-------+--------+-------+--------+--------+
| |
+------------+-------------+--------+-------+--------+-------+--------+--------+
| |Corpo A | 0.51 | 1.36 |415.06 |67.31 |236.67 |4,124.58|
|Inferred +-------------+--------+-------+--------+-------+--------+--------+
| |Corpo C | 1.26 | 3.29 |264.56 |64.13 |841.48 |3,808.72|
+------------+-------------+--------+-------+--------+-------+--------+--------+
| Sub Total | 1.77 | 4.65 |308.51 |65.06 |664.86 |3,900.96|
+--------------------------+--------+-------+--------+-------+--------+--------+
The mineral resource estimates have been prepared in accordance with the
classification standards adopted by the Canadian Securities Administrators'
National Instrument 43-101 Standards of Disclosure for Mineral Projects. The
mineral resource estimates have been prepared by, or under the supervision of,
Fábio Valério Câmara Xavier, a Member of the Australian Institute of Geosciences
and a Qualified Person under NI 43-101.
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend
of sustainable development of natural resources and CO(2) reduction. AMG
produces highly engineered specialty metal products and advanced vacuum furnace
systems for the Energy, Aerospace, Infrastructure and Specialty Metals and
Chemicals end markets.
AMG Processing develops and produces specialty metals, alloys and high
performance materials. AMG is a significant producer of specialty metals, such
as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives,
chromium metal and ferrotitanium, for Energy, Aerospace, Infrastructure and
Specialty Metal and Chemicals applications. Other key products include
specialty alloys for titanium and superalloys, coating materials and vanadium
chemicals.
AMG Engineering designs, engineers and produces advanced vacuum furnace systems
and operates vacuum heat treatment facilities, primarily for the Aerospace and
Energy (including solar and nuclear) industries. Furnace systems produced by
AMG include vacuum remelting, solar silicon melting and crystallization, vacuum
induction melting, vacuum heat treatment and high pressure gas quenching,
turbine blade coating and sintering. AMG also provides vacuum case-hardening
heat treatment services on a tolling basis.
AMG Mining produces critical materials utilizing its secure raw material sources
in Africa, Asia, Europe and South America. AMG Mining produces critical
materials such as high purity natural graphite, tantalum, antimony and silicon
metal. These materials are of significant importance to the global economy and
are available in limited supply. End markets for these materials include
electronics, energy efficiency, green energy and infrastructure.
With over 3,000 employees, AMG operates globally with production facilities in
Germany, the United Kingdom, France, Czech Republic, United States, China,
Mexico, Brazil, Turkey, Poland, India and Sri Lanka and has sales and customer
service offices in Belgium, Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901
Jonathan Costello
Vice President of Corporate Development and Corporate Communications
jcostello(at)amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are
"forward looking." Forward looking statements include statements concerning
AMG's plans, expectations, projections, objectives, targets, goals, strategies,
future events, future revenues or performance, capital expenditures, financing
needs, plans and intentions relating to acquisitions, AMG's competitive
strengths and weaknesses, plans or goals relating to forecasted production,
reserves, financial position and future operations and development, AMG's
business strategy and the trends AMG anticipates in the industries and the
political and legal environment in which it operates and other information that
is not historical information. When used in this press release, the words
"expects," "believes," "anticipates," "plans," "may," "will," "should," and
similar expressions, and the negatives thereof, are intended to identify forward
looking statements. By their very nature, forward looking statements involve
inherent risks and uncertainties, both general and specific, and risks exist
that the predictions, forecasts, projections and other forward looking
statements will not be achieved. These forward looking statements speak only as
of the date of this press release. AMG expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward looking
statement contained herein to reflect any change in AMG's expectations with
regard thereto or any change in events, conditions, or circumstances on which
any forward looking statement is based.
April 22 2013:
http://hugin.info/138060/R/1694928/557546.pdf
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Source: AMG Advanced Metallurgical Group N.V. via Thomson Reuters ONE
[HUG#1694928]
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Datum: 22.04.2013 - 17:32 Uhr
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