1 15 FEBRUARY 2017 Montepuez Graphite Project Mineral Resource and Ore Reserve Estimate Large high grade project defined, with long mine life and low strip ratio Highlights: 100,000 tonnes per annum 96% TGC graphite concentrate, 30 year Life of Mine, 8.80% TGC average LOM head grade 0.6 waste to ore strip ratio January 2017 Probable Ore Reserve Estimate for Buffalo and Elephant deposits is 41.4Mt @ 8.80% TGC for 3.64Mt of graphite reported at a cut-off grade of 4% TGC Total January 2017 Mineral Resource 105.9Mt @ 7.74% TGC for 8.2Mt of graphite reported at a 2.5% TGC cut-off as defined below; Elephant deposit Total Mineral Resource Estimate of 67.20Mt @ 7.50% TGC for 5.1Mt of graphite reported at a 2.5% TGC cut-off including Indicated and Inferred Mineral Resource classifications as defined below. o Indicated Resource – 35.7Mt @ 8.20% TGC for 2.90Mt of graphite o Inferred Resource – 31.50Mt @ 6.80% TGC for 2.20Mt of graphite Buffalo Deposit Mineral Resource Estimate of 38.70Mt @ 7.93% TGC for 3.0Mt of graphite reported at a 2.5% cut-off including Indicated and Inferred Mineral Resource classifications as defined below. o Indicated Resource – 18.50Mt @ 8.59% TGC for 1.60Mt of graphite o Inferred Resource – 20.20Mt @ 7.33% TGC for 1.50Mt of graphite Note: Footnotes in Mining Resources and Ore Reserves tables applies to the above Mineral Resource and Ore Reserve estimates. Battery Minerals Limited (ASX: BAT) (“Battery Minerals” or the “Company”) is pleased to provide a Mineral Resource update, and announce the maiden Ore Reserve, for its Montepuez Graphite Project in Mozambique Commenting on the Mineral Resource update and the maiden Ore Reserve, Battery Minerals Managing Director, Cherie Leeden, said, “We are delighted with the high conversion of Graphite Carbon from Indicated Mineral Resource to Ore Reserve at 81% contained graphite, low LOM strip ratio 0.6 (w:o) and the 30+ year project life. "The resource grade remains robust after various resource and reserve modifying factors were applied proving a stable graphite mine.” The Buffalo and Elephant Resource and Ore Reserve classifications and estimations are compliant with the guidelines of the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves by the Joint Ore Reserves Committee (JORC).
Montepuez Graphite Project Mineral Resource and Ore Reserve Estimate
Jun 23, 2023
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