JOHANNESBURG (miningweekly.com) – Aim-listed Richland Resources on Wednesday posted an updated measured and inferred mineral resource of 115.5-million carats of sapphire and corundum at the Capricorn sapphire mine, in Queensland, Australia.
The updated Joint Ore Reserves Committee- (Jorc-) compliant resource estimate comprised a measured resource of 107.5-million carats, after mining out some 1.5-million carats since July 2015, and an inferred resource of eight-million carats at a grade of 10 ct/t.
“Following 12 months of focused geological work, the Capricorn sapphire mine now has a meaningful additional, independently audited, Jorc [-compliant] resource estimate and . . . a more detailed mine plan in place with a far greater understanding of the geology and mineralisation of the deposit,” independent geological consultant Andrew Cunningham said.
The gemstone producer and developer’s new forward mining model allowed for structured grade control as increased capacity was reached across the mining circuits.
“I am very satisfied with the geological work completed to date and pleased that it has led to the development of an improved and structured 12-month mine plan to support the ongoing efficiency of the Capricorn sapphire mine as production continues to ramp up,” Richland CEO Bernard Olivier commented.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
