Altona Mining: Kylylahti Mine Increases Reserves and Mine Life
(firmenpresse) -
Altona Mining: Kylylahti Mine Increases Reserves and Mine Life
• Ore Reserve tonnes increased 16%
• Ore Reserve contained copperincreased 10%
• Mine life increased to over 7.5 years
• Copper metal in reserves now match pre-mining reserves
• Deep extension drilling underway
Altona Mining Limited (“Altona” or the “Company”) is pleased to announce increased Mineral Resource and Ore Reserve estimates for the 100% owned Kylylahti underground mine at its Outokumpu Copper Project in Finland. This is the regular update of resources and reserves that Altona undertakes in conjunction with annual and half year reporting.
Ore Reserves
The 30 June 2013 Ore Reserve estimate for the Kylylahti mine is:4.2 million tonnes at 1.60% copper, 0.73g/t gold and 0.63% zinc for 66,700 tonnes of copper, 97,700 ounces of gold and 26,100 tonnes of zinc.
After mining depletion this estimate is higher than the 31 December 2012 estimate of 3.6 million tonnes at 1.69% copper, 0.66g/t gold and 0.67% zinc (see ASX announcement on 2 April 2013).Contained copper increased by 10% as a result of ore tonnes increasing 16% and copper grade decreasing by 5%. The contained metal in the new reserve is essentially identical to the estimate disclosed on the 2 August 2010 prior to commencing mining.
The increased reserves will permit a new mine plan which will be disclosed to market in the near future. The increase in reserves has been driven by:
• Spectacular high grade underground definition drilling in the Wallaby-Wombat gap zone and in the top most part of Wombat reported on 18 July 2013 and 22 August 2013.
• Conservative pre-mining resource estimates. In general underground definition drilling results in increased grade and tonnes of high grade massive sulphides at the expense of low-grade disseminated ore.
• A change in the proposed mining method of the Wombat resource from longitudinal open stoping to transverse stoping permits better extraction of the resource, particularly low-grade disseminated ore.
Managing Director Dr Alistair Cowden said: “We are delighted by this latest upgrade at Kylylahti. Since commencing mining in early 2012 we have more than replaced mining depletion of reserves and the deposit has consistently delivered better grades once it has been defined by underground drilling and development. The deposit has been subject to definition drilling to approximately 540 metresvertical depth and there is potential that the definition drilling that will be undertaken below this depthwill similarly improve reserve grade”.
“The increase in mine life is particularly pleasing as Kylylahti was anticipated to be mined out by June 2019 in the absence of no further extensions to the deposit. Mining is now scheduled for completion in late 2020. The deposit remains open at the lower limit of drilling and a programme of deposit extension drilling at depth has commenced. Success in this drilling combined with the reserve upgrade could underpin a higher production rate or a longer mine life”, added Dr Cowden.
The first results of this drilling are expected in October-November.
The improvement in reserves since the 2010 Feasibility Study is illustrated below.
To view the entire press release please follow the link:
http://www.altonamining.com/static/uploads/documents/KYLYLAHTI_MINE_INCREASES_RESERVES_AND_MINE_LIFE.pdf
Leseranfragen:
" alt="Blue Water Petroleum Corp. Completes Drilling of Production Well, Begins Drilling New Well.">
Datum: 30.08.2013 - 08:26 Uhr
Sprache: Deutsch
News-ID 292374
Anzahl Zeichen: 3741
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 270 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Altona Mining: Kylylahti Mine Increases Reserves and Mine Life
"
steht unter der journalistisch-redaktionellen Verantwortung von
Altona Mining Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
