Junior Black Mountain Resources has reported a maiden indicated mineral resource of 4.6-million tonnes, grading 19% vermiculite at its Namekara project, in Uganda.
“We have infill drilled around 10% of the area currently covered by the inferred resource and have converted about 85% of this inferred resource into an indicated mineral resource status,” said chairperson and CEO Julian Ford.
“This will allow us to carry out mine planning and convert the area into a probable reserve, once we have properly identified all the modifying factors. Given the indicated mineral resource contains 870 000 t of vermiculite, and we are currently producing around 30 000 t/y at a pleasing grade of 19%, it can be assumed Namekara has the potential to be a long-life mining operation.”
The resource estimate was generated using data from a 2 415 m drilling programme and reverse circulation drilling undertaken previously by mining giant Rio Tinto and Diamond Core Drilling.
With the maiden indicated resource now in place, Black Mountain can start the process of optimising production to minimise cost and maximise the blend of the product, to meet market expectations, Ford said.