Announcement Date: 2021-11-16
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Mineral Commodities Ltd.
Project name: Skaland
Location: Norway
Commodities: Graphite
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Mineral Commodities Ltd (“MRC” or “the Company”), through its 90% owned subsidiary, Skaland Graphite AS (“Skaland”), is pleased to announce an update of the JORC Mineral Resource1 and a maiden Ore Reserve at the Trælen Graphite deposit, the underground ore source for the Skaland Graphite Operation in Norway. The Mineral Resource is estimated at 1.84 million tonnes at 23.6% TGC in the category of Measured, Indicated and Inferred for 434 kt of contained graphite at a 10% cut-off. The Company is also pleased to announce a maiden Ore Reserve of 640 kt at 24.8% TGC in the category of proven and probable, for 159 kt of contained graphite from the improved categorisation of mineral resources following the recently completed drilling program. Both the Mineral Resource and Ore Reserve estimate were prepared under the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, (“JORC Code (2012)”) and pursuant to ASX Listing Rule 5.8 and 5.9. In addition to the information contained in the body of this release, please refer to Appendix 1 JORC Table 1 for additional information.
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