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MINERAL RESOURCES

 

The Viscaria Project is divided into three deposits: A Zone, B Zone and D Zone. A Zone is a copper-rich deposit with minor concentrations of zinc and gold that was mined by Outokumpu OYJ between 1983 and 1997. Development consisted of underground mining utilising sub-level stoping methods. A total of 12.5Mt of ore with an average diluted grade of 2.3% copper was produced during this time. The A Zone mineralisation has been interpreted as being a Volcanogenic Massive Sulphide (VMS) style deposit.

B Zone is interpreted to be a second lens of the A Zone mineralisation. Some very minor material was mined from one level of B Zone during the Outokumpu period with access via a development drive from the A Zone underground development.

D Zone is a copper and iron deposit and although directly adjacent to A Zone and B Zone, has a different mineralisation style. It has previously been interpreted as an IOCG style deposit, or a VMS deposit. D Zone has not been mined.

The established JORC 2012 compliant Mineral Resource Estimates for the Viscaria Project are shown in Table 1 below.
 

Table 1: Currently Defined Mineral Resource Estimate for Copper reported on the Viscaria Project

Resource Name Classification Tonnes (Mt) Cu Grade (%) Contained
Cu (kt)
A Zone Measured 14.44 1.7 240.0
Indicated 4.69 1.2 57.2
Inferred 2.48 1.0 25.5
Subtotal 21.61 1.5 322.7
B Zone Measured 0.12 1.3 1.6
Indicated 4.2 0.7 29.7
Inferred 15.41 0.8 118.7
Subtotal 19.65 0.8 149.0
D Zone Indicated 3.11 0.81 25.2
Inferred 0.01 0.32 0.02
Subtotal 3.11 0.81 25.2
Indicated 7.26 1.37 99.8
Inferred 0.78 1.57 12.2
Subtotal 8.03 1.39 111.9
Overall Cu Total 52.4 1.2 608.9


NOTES:

  • The A Zone and B Zone JORC 2012 Mineral Resources were announced to the ASX on 1 July 2014.
  • The D Zone JORC 2012 Mineral Resource was announced to the ASX on 30 November 2015.
  • Copper Mineral Resource estimates are reported above a block cut-off Grade of 0.4% Cu for A and B Zones, and 0.2% for open pit and 0.9% for underground mining at D Zone.
  • D Zone subtotals represent open pit at an average grade of 0.81% copper, and underground at an average grade of 1.39% copper.
  • Any discrepancies in the sums and weighted averages are introduced by rounding


Competent Persons Statement

The information above that relates to exploration results is based upon information reviewed by Mr Malcolm Norris who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Norris is a full time employee of Avalon Minerals Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Norris consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The information above that relates to the 2016 Copper D Zone Mineral Resources are based on the information compiled by Chris Grove who is a Member of the Australasian Institute of Mining and Metallurgy and is a full time employee of Measured Group Pty Ltd (“Measured Group”). Measured Group are an independent mining consultancy who have been engaged by Avalon Minerals Limited to perform geological consulting on a fee for service basis. Mr Grove has sufficient experience that is relevant to the style of mineralisation being considered and to the activity being undertaken to qualify as a competent person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Grove consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information above that relates to the A Zone and B Zone Mineral Resources are based on the information compiled by Dr Bielin Shi who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of The Australian Institute of Geoscientists. Dr Bielin Shi is a full time employee of CSA Global Pty Ltd (CSA). CSA are an independent mining consultancy who have been engaged by Avalon Minerals Limited to perform geological consulting on a fee for service basis. Dr Bielin Shi has sufficient experience that is relevant to the style of mineralisation being considered and to the activity being undertaken to qualify as a competent person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Shi consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

 




Avalon Minerals is a mineral exploration & mining project development company.