JOHANNESBURG (miningweekly.com) – London-listed North River Resources on Thursday reported a significant Joint Ore Resource Committee-compliant resource upgrade at the Namib lead/zinc/silver project.
The Namibia-based project boasted 1.5-million tonnes, comprising an in-situ metal inventory of 23 700 t lead, 65 500 t of zinc and 1.48-million ounces of silver.
This represented a 35% increase in fresh ore resources to 917 000 t, grading 5.7% zinc, 2.4% lead and 45 g/t silver, and a maiden tailings measured and indicated resource of 610 000 t, grading 2.1% zinc, 0.3% lead and 7.6 g/t silver.
The resource increase, completed by Snowden Mining Industry Consultants, was ahead of the group’s forecasts and accelerated North River’s resource expansion programme, North River MD Martin French commented.
"The new resource statement represents the achievement of a substantial milestone in our strategy to bring the Namib project back into production. We are hopeful that we will be able to convert a significant proportion of these resources into reserves in the coming months, as well continuing to drill for new resources on site," he said.
North River’s initial drilling campaign, which comprised about 5 000 m of underground diamond drilling at the mine, had been completed, along with further extensive geophysical, structural and geological work on the historic mine and adjacent northern lodes.
The miner aimed to deliver a further upgraded resource following the completion of its drilling programme using the company's recently bought underground Kempe pneumatic U3-9B diamond drill and an electric underground Atlas Copco 262 drill.
“The company is also planning to develop a 300 m drive from the historic mine structure under the northern lodes to provide a number of new underground drill locations to expand the resource in this area,” French added.
North River's technical consultants, Snowden and Tenova, were also preparing a definitive feasibility study – with completion expected during the first quarter of 2014 – on the Namib project.