MZI Resources posts 60% resource rise at Keysbrook project

28 February 2013 (Last Updated February 28th, 2013 18:30)

Australian mineral sands company MZI Resources has posted a 60% increase in resources at its Keysbrook project in Western Australia, registering 78.9 million tonnes.

Keysbrook project, Western Australia

Australian mineral sands company MZI Resources has posted a 60% increase in resources at its Keysbrook project in Western Australia, registering 78.9 million tonnes.

The upgrade reinforces the project's potential for further increases in mineral resource through exploration, and underlines the potential to enhance the project life to over 15 years.

The current projected mine life at Keysbrook is 7.2 years based on accessible mineral resources plus shire approvals.

The increase in zircon / leucoxene minerals comprises an indicated resource of 26.3 million tonnes at 2.2% Total Heavy Mineral (THM) and inferred resource of 3.5 million tonnes at 2.4% THM.

"The current projected mine life at Keysbrook is 7.2 years based on accessible mineral resources plus shire approvals.

The resource increase was attributed to a re-evaluation of permits, agreements and approvals, which enabled a previously-drilled mineralisation to be included in the mineral resource.

According to MZI Resources: "There is significant potential for further increases in the Keysbrook Mineral Resource, with the mineralisation envelope defining the mineral resource being open in all directions."

With all environmental, development and extractive industry licence approvals in place, the company expects to begin construction in March 2013 and commence mining and processing operations next year.

Last year, MZI secured debt finance for the development of Keysbrook from an Australian and South African bank.


Image: The Keysbrook mine life could be extended to 15 years. Photo: courtesy of MZI Resources Ltd.

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