Upgrading of resource estimates
95% RESOURCE CONVERSION FOR INITIAL DEACON RESERVE OF 43,000 NICKEL TONNES
http://sa.iguana2.com/cache/aa602b7f6e6d0205d5831c3f599a6d27/ASX-SMY-372024.pdf
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SALLY MALAY PROJECT – RESOURCE & RESERVE UPDATE
http://sa.iguana2.com/cache/50531e2520ba39c8a9408a029e229714/ASX-SMY-372047.pdf
Extract:
Sally Malay Mining Limited (ASX Code: SMY) is pleased to announce an updated Measured and Indicated Mineral Resource of 2.83Mt at 1.73% Ni, 0.80% Cu and 0.09% Co for 48,940 tonnes of contained nickel between the 100 and 500 faults. The Company is also pleased to announce an increased Probable Ore Reserve for the corresponding Resource area of 2.79Mt at 1.32% Ni, 0.61% Cu and 0.07% Co for 36,800 tonnes of contained nickel.
Since mining commenced in 2004 the Sally Malay Project has produced 1.9M tonnes of ore grading 1.22% Ni, 0.53% Cu and 0.06% Co for 23,200 tonnes of contained nickel from an initial Reserve of 53,000 tonnes of contained nickel.
This reserve increase represents an increase of 7,000 tonnes of contained nickel or an additional year of mining from the original resource area.
A summary of the total Sally Malay Mineral Resource above a 0.5% Ni cut-off, as at 30 June 2007 is shown in Table 1"
SMY
sally malay mining limited
