South American Ferro: Updated Jorc Resource Statement
(firmenpresse) -
UPDATED JORC RESOURCE STATEMENT
South American Ferro Metals Limited (ASX: SFZ) (SAFM or the Company) is pleased to announce that its JORC Mining Resource has increased by 34%, from 301.1 Mt to 403.71 Mt , which is set out in the following JORC Resource statement:
Ponto Verde Iron Ore Project
Grade x Tonnage Table - Cut-off Grade Applied: 20% Fe
Resource Class Tonnes (Mt) Fe (%)
Measured 83.82 40.44
Indicated 157.79 41.01
Measured + Indicated 241.61 40.81
Inferred 162.10 39.68
Additional resource information has been gathered from an additional 12 diamond drill and 162 samples from 584.5 metres of trenching which confirms the continuity of the mineralization.
SAFM is currently re-evaluating the overall scope of its current Bankable Feasibility Study (BFS) in
light of this additional information with a view to enlarging the initial reserve for mining.
The majority of the updated Resource has been calculated to an average depth of 70 metres below the surface. However, exploration drilling at depth has highlighted that mineralisation extends to over 320 metres depth. Based on this, SAFM will plan a drilling program to target the core of the deposit at depth which will have the potential to further increase the size of the deposit.
SAFM Chief Executive Officer and Managing Director Stephen Turner said:
The Board SAFM is pleased with this latest 34% increase of its Ponto Verde resource. The enlarged resource underpins SAFMs expansion plans. Work is underway to define a new JORC compliant resource calculation which we expect to be material.
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For more information:
For more information:
South American Ferro Metals Limited Stephen Turner (CEO)
Australia: +61 2 8298 2000
Brazil: +55 31 8229 8301
About South American Ferro Metals Limited:
South American Ferro Metals Limited owns 100% of the mineral rights and property of the Ponto Verde Iron Ore Project, located in the heart of the Iron Ore Quadrilateral in Brazil, 55 kilometres from the town of Belo Horizonte in the state of Minas Gerais. The Iron Ore Quadrilateral is a prolific iron ore mining area, and the Ponto Verde Project is located proximate to established mining operations, iron and steel plants and existing infrastructure.
Competent Persons
The information in this statement which relates to the Mineral Resource is based on information compiled by Marcela Rodrigues who is an employee of Coffey Consultoria e Serviços Ltda and a Member of the Australian Institute of Geoscientists. Marcela Rodrigues has sufficient relevant experience to the style of mineralization and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012).
Mrs Rodrigues was supported by the geologist Fabio Valério Xavier, who is full time employee of Coffey Consultoria e Serviços Ltda and member of the Australian Institute of Geoscientists.
Mr. Porfirio Cabaleiro Rodriguez, a Mining Engineer with more than 35 years experience in Resource estimation was responsible for supervised geology and estimation. Mr. Cabaleiro provided all peer review of the work
Forward Looking Statements
This announcement contains certain forward looking statements which by nature, contain risk and uncertainty because they relate to future events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.
Website: www.safml.com
Here is the full report: http://www.asx.com.au/asxpdf/20140908/pdf/42s2163nv2nqmj.pdf
Leseranfragen:
South American Ferro Metals Limited gehören 100% der mineralischen Rechte und das Grundstück des Ponto Verde Eisenerzprojektes in Brasilien.
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News-ID 336026
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