- Mineral Commodities (MRC) updates the mineral resource estimate (MRE) for the Western Strandline at the Tormin Inland Strands deposit in South Africa
- The MRE increased 82 per cent from the previous estimate and now reads 193.2 million tonnes at 9.5 per cent total heavy mineral
- MRC has also released a maiden mineral resource estimate for the Eastern Strandline of 19.5 million tonnes at 3.3 per cent total heavy mineral
- According to CEO Jacob Deysel, the company will deliver a maiden ore reserve in the next quarter
- MRC ends the day 3.09 per cent in the green with shares trading at 10 cents
Mineral Commodities (MRC) has updated the mineral resource estimate (MRE) for the Western Strandline at the Tormin Inland Strands deposit in South Africa.
The company has also released a maiden mineral resource estimate for the Eastern Strandline which also lies within the Tormin Inland Strands deposit.
Both mineral resources are reported in accordance with the JORC 2012 code.
The updated MRE for the Western Strandline is 193.2 million tonnes at 9.5 per cent total heavy mineral (THM) while the maiden MRE for the Eastern Strandline is 19.5 million tonnes at 3.3 per cent THM.
The MRE at the Western Strandline was calculated via 6049 metres of aircore drilling completed between March to May 2021.
It represents an 82 per cent increase in regards to the previous estimate, a 67 per cent increase in the measured and indicated categories and a 41 per cent increase in contained heavy minerals.
The resource upgrade demonstrates the significant potential of the Tormin Mineral Sands Operation and the opportunity to materially expand its scale and extend the mine life.
CEO Jacob Deysel called this a very significant milestone for the company.
“This is a very significant milestone for growing our mineral sands business in the Western Cape region of South Africa,” Mr Deysel commented.
“The Tormin Western Strandline is a world-class mineral sands deposit, and the Eastern Strandline presents an additional resource to further expand MSR’s conventional mineral sands resources.”
“We look forward to delivering a maiden ore reserve in the next quarter and further drilling thereafter in line with our development and growth plans for our mineral sands business.”
MRC has ended the day 3.09 per cent in the green with shares trading at 10 cents in a $51.89 million market cap.