Chromex Mining (AIM: CHX), the South African chrome mining company, announced that it had more than increased its SAMREC compliant resource estimate by 116% to 31.9 million tonnes of chromite at its Stellite chrome mine on the Western Limb of the Bushveld Complex in South Africa.
Chromex CEO Russell Lamming said, “We are delighted to have more than doubled the Stellite chromite resource estimate to circa 32 million tonnes increasing the Company’s total controlled resources by 72% to around 40 million tonnes. Despite the resource being included in the inferred category it is in fact being currently mined profitably. In addition to the significant increase in resources Chromex is now 100% SAMREC compliant which further underpins the robust nature of the Company’s projects. The Stellite project continues to excite us; we will now upgrade the inferred resources through additional drilling and look at the feasibility of developing the underground resources.”