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MZI upgrades resource, reserve at Keysbrook mineral sands mine

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MZI upgrades resource, reserve at Keysbrook mineral sands mine

MZI Resources Ltd. has increased the confidence of the resources and reserves at its Keysbrook mineral sands mine in Western Australia.

The ASX-listed miner said Oct. 11 that 86% of the total resource is now in the highest confidence measured category, compared to 71% previously. The company also said that 92% of the total reserve is now classified as proved, compared to 75% previously.

The updated resource now totals 146.8 million tonnes at 2% total heavy mineral, and the reserve totals 58.0 million tonnes at 2.3% total heavy mineral.

The updated resource takes into account mining depletion of 7.5 million tonnes since operational activities started in mid-2015. The reserve, meanwhile, has declined by 6.6 million tonnes due to other technical adjustments.

The updated resource and reserve follows the completion of an infill drilling program in mid-2016 aimed at increasing the confidence in areas scheduled for mining in the next 12 to 18 months, as well as provide incremental lateral additions to the resource.

MZI said the resource remains open to the north, west and southwest, and will be progressively tested by further drilling over the life of the operation.