PERTH (miningweekly.com) – Diversified miner South32 has reported a Joint Ore Reserves Committee (Jorc) compliant mineral resource estimate for the Taylor zinc/lead/silver deposit, within its Hermosa project area, in Arizona.
The deposit is estimate to host some 155-million tonnes, grading 3.39% zinc, 3.67% lead, 69 g/t silver for some 5.3-million tonnes of zinc, 5.7-million tonnes of lead and 344-million tonnes of silver.
The deposit remains open at depth and laterally, South32 said on Monday, with the company noting that multiple targets will be tested as the company continues its extensive surface drilling programme.
“Our declaration of a mineral resource for the Taylor deposit for the first time in accordance with the Jorc code represents a key milestone as we progress one of the most exciting base metals project in the industry,” said South32 CEO Graham Kerr.
“The ongoing drilling programme, and the resampling and reclogging activity undertaken since our acquisition of the Taylor deposit has significantly de-risked our investment, increased our confidence in the project and confirmed its ability to deliver strong returns to our shareholders over many decades. We expect to conclude our prefeasibility study for the project before the end of the 2020 financial year,” he added.
Meanwhile, the miner has reduced the coal reserves for the Bulli seam, at its Illawarra metallurgical coal project, in New South Wales, by some 22-million tonnes, to 114-million tonnes, following a commercial agreement to relinquish a portion of its mining lease in the Appin area.
The coal reserves for the Wongawilli seam remain unchanged.
The Illawarra metallurgical coal project consists of two underground coal mines and two coal processing facilities which are fully ownbed by South32.