Kazax Provides News Release Correction
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2014) -
Kazax Minerals Inc. ("Kazax" or the "Company") (TSX-VENTURE:KZX)
announces a correction to its news release issued on April 17, 2014
entitled "Kazax Announces Upgrade in Mineral Resources
Classification at Lomonosovskoye Project".
The table on page 1 of the original news release referenced an
incorrect figure for P% in "Measured and Indicated". The table
should have read 0.23P%. All other details in the news release
dated April 17, 2014 remain unchanged. The following is a copy of
the corrected news release.
KAZAX ANNOUNCES UPGRADE
IN MINERAL RESOURCES |
CLASSIFICATION AT
LOMONOSOVSKOYE PROJECT |
Kazax is pleased to announce that its independent Qualified
Person (the "QP"), Mr. Andrew Vigar of Mining Associates ("MA"),
has completed a revised resource estimate on the Lomonosovskoye
Iron Project, located in the Republic of Kazakhstan.
The revised estimate for the Lomonosovskoye Project is based on
the same drill database as used in the report prepared in
compliance with National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101"), which was dated
December 18, 2012 (and resubmitted on SEDAR on May 9, 2013) (the
"December 2012 report"), but with a re-interpretation of the
geological and geophysical data, the addition of further assays
from some un-sampled intervals and an estimation method that
includes an allowance for bulk open-pit or underground mining. This
better understanding of the geology and mineralization controls and
additional definition provided by the down-hole geophysics has
allowed an increase in the confidence levels of the estimates.
The new mineral resource estimate is outlined below, above a
cut-off grade of 20% Fe:
Mineral Resource Estimate for Combined Lomonosovskoye,
Effective Date of April 15, 2014, cut-off 20% Fe |
Class |
Mt |
Fe % |
P % |
S % |
FeM % |
Measured |
63.9 |
30.5 |
0.29 |
3.01 |
21.3 |
Indicated |
414.2 |
30.6 |
0.22 |
3.3 |
21.04 |
Measured & Indicated |
478.1 |
30.5 |
0.23 |
3.3 |
21.1 |
Inferred |
28.4 |
28.0 |
0.28 |
3.04 |
16.71 |
The current resource estimate is based on holes drilled and
assays received up to 23 November 2012. The magnetic anomaly
contours and historical geological cross sections were used to
constrain and extend the resource estimation domains up to 50m
beyond last drillhole, where reasonable. Three dimensional
wireframes were constructed for each domain guided by 5m bench
composites, downhole magnetic susceptibility data, newly translated
lithology logs and magnetic and gravity maps. Interpretations at a
10% Fe cut-off grade were made for the Northwest Central
deposits.
Assay results were composited to 5 meter intervals down-hole
within domains. Fe assay results were capped at the 99.5 percentile
for the Northwest deposit and 99.9 percentile for the Central
deposit while no capping was required for the magnetite content.
The Block Model extents cover the combined Northwest and Central
deposits, with a block size of 15mN x 15mE x 10mRL, without
sub-blocking to reflect block open-pit or underground. An indicator
approach was used to select blocks with a greater than 40%
probability of being above a cut-off grades of 20% Fe within
domains. Grade was interpolated into a constrained block model
using all 5m sample composites within above or below 20% Fe blocks,
including samples with a value below or above 20% Fe respectively.
This is considered to represent the true "mining block" grade,
including both internal and edge dilution. Ordinary Kriging
estimation technique with anisotropy was applied.
Maximum search was varied by domain, from 150 to 300m with three
to 24 informing samples. Density was calculated using the following
formula: density = 0.0213 x Fe content + 2.74 taken from the linear
regression plot for density against Fe content for over 3,000
samples. Resources are reported above 20% Fe for both deposits.
Where reference is made in the table above to "Inferred", this
refers to within domain wireframes and with at least three
informing samples. Where reference is made in the table above to
"Indicated", this refers to within domain wireframes and the
maximum of 24 informing samples and Krig Slope greater than 0.1.
Where reference is made in the table above to "Measured", this
refers to within domain wireframes and the maximum of 24 informing
samples and a Krig Slope greater than 0.5.
The new estimate represents an increase in tonnage of 45% and an
increase in contained iron of 25% in the measured and indicated
mineral resource categories over the estimates included in the
December 2012 report. The changes from the estimates in the
December 2012 report relate to increased confidence levels, as well
as changes in the estimation methodology. As a result of new assay
information from old drill hole samples, which filled some
unsampled intervals in the database, and the use of the down-hole
geophysical data to better define low-grade areas, the inclusion of
mining dilution within the mining blocks has increased tonnage
without a corresponding loss of contained metal at an unchanged
cut-off grade of 20% Fe; nevertheless, the overall effect has been
to lower the average grade of estimated mineral resources.
The Lomonosovskoye Iron Project is located in the northwest
corner of the Republic of Kazakhstan in the Kostanay Region, 618km
northwest of the country's capital of Astana and 50km
west-southwest of the regional capital of Kostanay. The Project is
located close to the town of Rudniy and existing significant iron
mining-processing operations. The area has considerable industrial
infrastructure.
The Lomonosovskoye Project has been subject to various
geophysical and drilling surveys from 1951 through to 1984, during
which time several mineral resource estimates were conducted. Some
412 diamond drill holes for a total meterage drilled of 131,441m
were recorded in the database for the contract area prior to the
2012 drilling, of which 190 drill holes were angled holes. A
further 22 drill holes were completed in 2012 for a total of
9,049m, selected and supervised by MA and assayed by an
independent, certified lab (ALS Global) to validate the historical
drilling and for this mineral resource estimate. This estimate is
based on the data set used in the December 2012 report, with
additional assaying of stored samples and interpretation of
down-hole geophysical logs. It is expected that drilling completed
in 2013 and 2014 will be included in the next update.
It is MA's opinion that the mineral resource estimates included
in the December 2012 report have been largely verified by the new
estimates, with the changes in tonnage and grade reflecting
increased confidence and the use of an estimation methodology
better suited to bulk surface and underground mining. The new
estimates are fully diluted for internal and edge mining
dilution.
The mineralization domains were redefined by 3D wireframes using
drill assay data, detailed geology logs and down-hole magnetic
susceptibility logs. The deposit was divided into blocks above and
below 20% Fe using an indicator approach. Grades and mineralization
percentages were then estimated by Ordinary Kriging into blocks
15x15x10m in size within each domain.
The Lomonosovskoye Project contains significant magnetite iron
mineralization in two deposits comprised of seven adjacent domains
which have similar geological settings to the nearby operating
magnetite iron ore open pit and underground mines in the Rudniy
region.
Historical work to date has outlined skarn iron mineralization
at the NW Deposit and the Central Deposit beneath 100m of
overburden and extending to 1600m depth in the NW Deposit, and some
900m at Central.
MA notes that the Lomonosovskoye Project has a favourable
location due to its proximity to transportation routes, and sources
of water, gas, and power supply, which have been established with
the regional mining complex based in Rudniy. This may allow a
reduction in capital expenditure and may reduce the cost of
production if the project proceeds to development through the use
of shared infrastructure.
As discussed in the December 2012 report (which was refiled on
SEDAR on May 9, 2013), there is a possible risk relating to the
prior transfer to the Company of certain subsoil use contract
rights.
The QP makes the following observations and conclusions
regarding the Lomonosovskoye Project in the Report:
- Significant skarn type iron mineralization exists at the
Lomonosovskoye Project.
- The mineralization occurs in 3 main types - disseminated, veins
and massive.
- The deposit remains open at depth and along the lateral extents
in certain areas as well as being under-drilled in the mid portion
between the NW and Central deposits. This area is currently being
tested with diamond drilling.
- The resource estimates will be updated based on the results of
the drilling program currently underway.
- Following a more rigorous and reliable testing of density, a
calculated density has been applied to iron bearing blocks within
the block model rather than fixed values as in the past.
Mr. Andrew Vigar, BCppSc, FAusIMM, MSEG, of Mining Associates
Limited is a Qualified Person as defined by NI 43-101 and has
supervised and approved of the scientific and technical information
in this news release.
For further information on Kazax, readers are invited to review
additional corporate and property information available on the
Company's website (www.kazaxmineralsinc.com) and to Canadian
regulatory filings on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
Trevor Campbell Smith, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward looking information" within the
meaning of the British Columbia Securities Act and the Alberta
Securities Act. Generally, the words "expect", "intend",
"estimate", "will" and similar expressions identify forward-looking
information. By their very nature, forward-looking statements are
subject to known and unknown risks and uncertainties that may cause
our actual results, performance or achievements, or that of our
industry, to differ materially from those expressed or implied in
any of our forward looking information. Statements in this press
release regarding Kazax's business or proposed business, which are
not historical facts, are forward-looking information that involve
risks and uncertainties, such as estimates and statements that
describe Kazax's future plans, objectives or goals, including words
to the effect that Kazax or management expects a stated condition
or result to occur. Since forward-looking statements address events
and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they
are made. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review
these materials, including the technical reports filed with respect
to the Company's mineral properties. The foregoing commentary is
based on the beliefs, expectations and opinions of management on
the date the statements are made. The Company disclaims any
intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events
or otherwise.
Kazax Minerals Inc.+7 7172 99 05 49+7 7172 99 05
46info@kazaxmineralsinc.comwww.kazaxmineralsinc.com
KazaX Minerals Inc. (TSXV:KZX)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
KazaX Minerals Inc. (TSXV:KZX)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024