Drill results lift resource block at Baobab’s Moz play
JOHANNESBURG (miningweekly.com) – A recent infill drilling programme at Mozambique-focused Baobab Resources’ 85%-owned pig iron and ferrovanadium play, the Tete project, has enlarged the Tenge resource block by 29-million tons to 222-million tons.
Prior to the infill drilling campaign, the Tenge resource block was classified as an indicated 72.6-million tons and an inferred 120.3-million tons for a total tonnage of 192.9-million tons.
The additional 222-million tons now expanded the Tete project’s global resource to 759-million tons.
The resource contained within the Tenge starter pit shell was designed during the 2013 prefeasibility study to underpin the first 20-plus years of operation at a one-million-ton-a-year pig iron production.
Baobab MD Ben James said on Thursday that the revised resource statement marked a significant milestone for Baobab, substantially derisking the Tete project and consolidating a firm base on which to build a large-scale, long-life, high-margin pig iron and vanadium operation.
“The classification of a minimum 20 years of operation in a measured category, particularly to the exacting standards of the revised Joint Ore Reserves Committee 2012 code, is a phenomenal result and underlines the robust geological and geochemical continuity of the deposit,” he commented.
The pit shell would now be revised and expanded to incorporate the measured resource and additional, previously unclassified, resources during the next phase of pit optimisation, mine scheduling and reserve classification.
This next phase of work would begin in July once a limited programme of geotechnical and hydrogeological drilling had been completed.
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