Mintails Limited
Mintails Limited's (ASX:MLI) name is a direct description of its underlying activities, which are the development, processing and production of gold and uranium and potentially sulphuric acid from "mining tailings" located on the West and East Rand areas of the Witwatersrand Basin, near Johannesburg, South Africa.
Mintails upgrades West Rand JORC gold resource in South Africa
Monday, March 15, 2010
Mintails (ASX: MLI) has announced that following recent re-assessment work by Peter Camden-Smith of Camden Geoserve, the JORC Resource on the West Rand in South Africa has been upgraded to those presented in an earlier Mintails Limited announcement on 4 November 2009.
The company said the change has arisen from a review of both tonnages and grade. As a result of this review the tonnage decreased from 5.28 million tonnes to 4.88 million tonnes (on 1L8).
Concomitant with the decrease in tonnage was an increase in grade from 0,22g/t to 0,34g/t. An exploration campaign is continuing on the total resource.
A summary of the re-assessed JORC Resource Inventory on the West Rand is as below:
A geographical area classification of the Gold Resource into two separate clusters, being the Randfontein Cluster containing 139 million tonnes, and the Soweto Cluster containing 177 million tonnes of surface resources.
A Gold Resource of 316 million tonnes, with a gold content of 3.1 million ounces gold.
An Uranium Resource of 273.5 million tonnes with 25.14 million pounds of uranium.
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