Black Mountain Resources Ltd. estimated a maiden ore reserve of 1.16 million tonnes at 24.8% vermiculite graded at over 710 microns, for 288,000 tonnes of contained vermiculite, at a 20% cutoff, at its Namekara deposit in Uganda.

According to the March 29 release, the maiden ore reserve will provide at least five years of mine life at current production rates.

The company recently estimated an indicated resource at Namekara of 4.6 million tonnes grading 19% vermiculite for 870,000 tonnes of contained vermiculite, and an inferred resource of 55.5 million tonnes grading 18% vermiculite for 9.99 million tonnes of contained vermiculite, at a 10% cutoff.