Australian Zircon confirms partner participation for heavy...

Australian Zircon confirms partner participation for heavy mineral sand project in Victoria

Wednesday, December 04, 2013 by Proactive Investors

Australian Zircon has confirmed that Orient Zirconic Resources will retain its 20% participating interest in the WIM150 heavy mineral sand joint venture in Victoria.

Australian Zircon has confirmed that Orient Zirconic Resources will retain its 20% participating interest in the WIM150 heavy mineral sand joint venture in Victoria.

Australian Zircon (ASX: AZC) has confirmed that Orient Zirconic Resources will retain its 20% participating interest in the WIM150 heavy mineral sand joint venture in Victoria.

Orient Zirconic is a capable and experienced partner in zircon production and usage. It is a significant end-user of zircon in China.

It is the project’s contracted off-take partner for 50% of all mineral production – 20% as to its own equity interest together with a further 30% of all mineral products contracted with Australian Zircon.

WIM150 has a Proved and Probable Ore Reserve of 552 million tonnes at 4.3% total heavy mineral that is included in a total Resource of 1,650 million tonnes grading 3.7% total heavy mineral.

The Ore Reserve carries a waste:ore ratio – after removal of soil and subsoil – of 0.51:1.

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