Cradle launches PFS at Tanzania's Panda Hill
PERTH (miningweekly.com) – Niobium hopeful Cradle Resources has launched a prefeasibility study (PFS) at its Panda Hill project, in Tanzania, with the aim of completing it during the first quarter of 2015.
The junior on Tuesday announced that it would also undertake extensive drilling activities at Panda Hill, with the first phase of the drilling programme comprising some 78 holes with 8 100 m being drilled.
A second phase of drilling was also planned for later this year.
“The next few moths will be an exciting time for the Cradle team as we focus on increasing the confidence of our world-class niobium project economics through resource drilling and development metallurgical testwork,” said MD Grant Davey.
He noted that the results would culminate in a PFS.
The Panda Hill project currently has a mineral resource of some 56-million tonnes, grading 0.5% niobium, for 280 000 t of niobium pentoxide. The project is covered by three granted mining licences totalling 22.1 km2, with the licences due for renewal in November 2016.
In June this year, Cradle reached an agreement with Africa-focused Tremont under which Tremont would earn a 50% interest in the Panda Hill project by investing some $20-million.
The definitive feasibility study for Panda Hill would likely be completed once Tremont has invested $15-million.
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