Australia’s Mineral Commodities Ltd (ASX: MRC) has announced a maiden Total Heavy Minerals (THM) JORC resource at the Northern Beaches portion of the Tormin Mineral Sands Operation located on the west coast of South Africa.
The initial Mineral Resource is estimated at 2.5 Million tonnes at 23.5% THM in the category of Measured, Indicated and Inferred using a 2% cut-off.
Executive Chairman Mark Caruso said the development of a resource estimate at Northern Beaches was another important milestone for the company.
The delivery of a maiden JORC Resource at the Northern Beaches effectively doubles the beach resource tonnes of this very high-grade placer style beach system and its unique historical replenishment characteristics,” Mr Caruso said.
“To date, we’ve mined over 12.3 million tonnes from adjoining Tormin Beaches which had an original mineral resource estimate of 2.7 million tonnes.
“The timing of this resource aligns perfectly with our strategy to commence mining the Northern Beaches as soon as our pending Section 102 Expanded Mining Right application is granted.”
Mr Caruso said The Mineral Resource demonstrates the high-grade nature of the deposit, with over 70% of the total Resource reporting in the category of Measured at 24% THM.
The Measured Resource categorisation is also higher than any of the historical resource estimates at Tormin, which have only ever been reported as high as Indicated.
Mr Caruso said development of the Northern Beaches after the grant of the Expanded Mining Right will be relatively straightforward, commencing with the relocation of one of the current PBC- TSP primary beach concentrators to Beach.
This represents a low capital cost option for Northern Beaches development. Project engineering and planning is already underway for bringing the Northern Beaches into production once the Section 102 application is granted.
The project site is located approximately 370km north of Cape Town and around 30km from the township of Lutzville.