- EQ Resources (EQR) has shored up confidence in the tungsten ore model at its Mt Carbine mine in North Queensland
- The company is preparing to expand tungsten output from the mine in the coming months and years
- EQR recently upgraded its ore reserve in May and an ongoing drilling campaign serves to provide infill data
- The findings also confirm the geotechnical acumen of EQ Resources’ mining team
- EQ Resources shares are up 4.48 per cent, trading at 7 cents at 2:38 pm AEST
EQ Resources (EQR) has announced the partial completion of the latest drill run at its Mt Carbine tungsten mine in North Queensland.
The drilling confirmed the company’s ore reserve remains set for upgraded production.
One hundred and fifteen grade control holes were sunk in the existing open pit so as to create a detailed ‘dig model’ for the next twelve months of operations.
The drill run acted as an infill drilling exercise, following up on the last campaign in May which saw EQ Resources boost its Mt. Carbine ore reserve by 43 per cent.
The company’s announcement today effectively confirms that ore reserve upgrade.
A further 35 holes will be sunk at Mt Carbine, with all assays expected by the end of August.
Assays are so far in the company’s hands for 16 of the 115 holes in the latest campaign, which have helped geotechs confirm that mineralisation on-site is at a desirable grade and that the mineral system has plenty more tungsten to give.
Visual mineralisation was also detected in drill samples from two lodes – Bluff and Johnson respectively.
“Material ore haulage during July is expected to be +40,000t of ore as we ramp up toward monthly plant production capacities over the coming months,” EQ Resources CEO Kevin MacNeill said.
“I am pleased with the initial trial works for mining at Mt Carbine with three blasts on 25th June, 1st and 16th July completed and the early results from infill grade control drilling supporting our reserve model work.”
EQ Resources shares were up 4.48 per cent, trading at 7 cents at 2:38 pm AEST.