Mulga Rock Project

Resources and Reserves

 

table 1  MULGA ROCK project ore Reserves - August 2017

Total Reserve     22.7 845 42.3
Deposit/Resource Classification Cut-off Grade (ppm U3O8) Tonnes (Mt)1,2 U3O8 (ppm)3 Total Metal U3O8 (Mlb)4

MULGA ROCK EAST

         
Ambassador Proved 150 5.3 1,055 12.3
Ambassador Probable 150 14.1 775 24.0
Princess Probable 150 1.7 870 3.3
Sub-total     21.1 850 39.6

MULGA ROCK WEST

         
Shogun Probable 150 1.6 760 2.7
Sub-total     1.6 760 2.7

1. Tonnages and grades are reported including mining dilution 
2. t = metric dry tonnes; appropriate rounding has been applied and rounding errors may occur
3. Using cut combined U3O8 composites (combined chemical and radiometric grades)
4. Metallurgical plant recovery factors are not applied to Total Metal content

The information in the table above is extracted from ASX announcement entitled "Major Ore Reserve Update” released on 4 September 2017. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

 


 

table 2  MULGA ROCK project mineral resource - July 2017

Total Resource     71.2 570 90.1
Deposit/Resource Classification Cut-off Grade (ppm U3O8) Tonnes (Mt)2 U3O8 (ppm)3 U3O8 (Mlb)

MULGA ROCK EAST

         
Ambassador Measured 150 5.2 1,100 12.6
  Indicated 150 14.8 800 26.0
  Inferred 150 14.2 420 13.1
Princess Indicated 150 2.0 820 3.6
  Inferred 150 1.3 420 1.2
Sub-total     37.4 680 56.4

MULGA ROCK WEST

         
Emperor Inferred 150 30.8 440 29.8
Shogun Indicated 150 2.2 680 3.2
  Inferred 150 0.9 290 0.6
Sub-total     33.8 450 33.6

1. Mineral Resources are reported inclusive of Ore Reserves
2. t = metric dry tonnes; appropriate rounding has been applied and rounding errors may occur
3. Using cut combined U3O8 composites (combined chemical and radiometric grades)

The information in the table above is extracted from ASX announcement entitled "Significant Uranium Resource Upgrade – Mulga Rock cracks 90Mlbs" released on 12 July 2017. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

 


 

 

 

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