So basically the steps from here appear to be relating to "the work program for 2018 to enable completion of a Bankable Feasibility Study (BFS) includes:
• Obtaining all necessary regulatory approvals and licences;
• Infill drilling (10m x 10m) in the southern portion of the proposed pit area where mining operations are planned to commence, so that the current Indicated Resource can potentially be upgraded to Measured Resource and the current Probable Reserve can be upgraded to Proven Reserve in this small area of the deposit. This work will test the Resource estimate model to increase confidence and precede but be part of normal grade control drilling included as part of mining operations. This drilling has commenced;
• Grid drill the recently reported supergene mineralisation which has been remobilised from erosion of the outcropping Tampia deposit and deposited downslope within a zone extending over 4.5km from the proposed pit boundary, with the aim of bringing this recent discovery into resource category for early stage mining (if warranted). The first phase of this
drilling program has been completed; and
• Testwork currently in progress on improved processing options for fresh ore indicates overall recovery may be increased by up to 5%."
Amongst other things, I look forward to the supergene results the most out of this.
EXU Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
