Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Editor's Pick

Drilling Commences at Butcherbird Targeting Reserve Extension to Support Financing

Element 25 Limited (E25 or Company) (ASX: E25; OTCQX: ELMTF) is pleased to advise that resource infill drilling has commenced at the Company’s 100%-owned Butcherbird Manganese Project (Butcherbird or Project). E25 recently completed a Feasibility Study (FS) to expand the processing facility at Butcherbird to support manganese concentrate production of 1.1 million tonnes per annum1. The current reserve is constrained by the drill hole spacing in the inferred resource areas.

The additional drilling will provide infill data aimed at converting inferred resources to indicated or measured categories to support the re-estimation of mine reserves and extend the life-of-mine (LOM) plan to ~20 years based on conversion ratios seen at Butcherbird previously. The increase in the “reserve tail” is important for project financing and can open the project up to a wider range of potential financiers in addition to NAIF, who are currently undertaking due diligence2.

HIGHLIGHTS

Program comprises approximately 209 percussion drill holes for 6,270m targeting infill of existing inferred resources.Drilling designed to extend current reserves of 7.2 years to approximately 20 years at 1.1M tpa concentrate production.Reserve increase is an important component of securing project financing at favourable rates.

The Project hosts a global resource of over 260Mt of manganese ore however the current reserves are limited to the areas which have been drilled out to a sufficient density to support measured and indicated classifications which are required as the basis for a statement of reserves. The current drilling programme has been designed to infill existing inferred resources to a sufficient data density, based on variographic analysis, to convert the inferred resources within granted mining lease M52/1074 to indicated and/or measured.

Click here for the full ASX Release

This post appeared first on investingnews.com
Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com