Reserves & Resources
The proven and probable reserves within the dredge path design for the Project at Namalope are 634 million tonnes ore grading 4.1% Total Heavy Minerals (of which 3.3% is ilmenite), which is equivalent to 21 million tonnes ilmenite. Total Resources for the Moma Project are 5,900 million tonnes of ore containing 160 million tonnes of ilmenite , as shown in the table.
| Reserve-Resource Table | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Zones | Category | Million tonnes of ore (sand) | % THM* in ore | % ilmenite in THM | % ilmenite in ore | Million tonnes THM | Million tonnes ilmenite | Million tonnes rutile | Million tonnes zircon |
| Reserves | |||||||||
| Namalope | Proved Reserve | 276 | 4.7 | 80 | 3.8 | 13 | 10 | 0.26 | 0.76 |
| Namalope | Probable Reserve | 358 | 3.6 | 81 | 2.9 | 13 | 10 | 0.26 | 0.78 |
| Total Reserves | 634 | 4.1 | 81 | 3.3 | 26 | 21 | 0.52 | 1.54 | |
| Resources | |||||||||
| Congolone | Measured Resource | 167 | 3.3 | 77 | 2.5 | 5.4 | 4.2 | 0.1 | 0.4 |
| Pivilli | Inferred Resource | 227 | 5.4 | 80 | 4.3 | 12 | 9.8 | 0.3 | 0.8 |
| Mualadi | Inferred Resource | 327 | 3.2 | 80 | 2.6 | 10 | 8.4 | 0.2 | 0.7 |
| Nataka | Inferred Resource | 4,700 | 3.0 | 83 | 2.5 | 140 | 120 | 2.5 | 7.7 |
| Mpitini | Inferred Resource | 287 | 3.6 | 80 | 2.9 | 10 | 8.3 | 0.2 | 0.7 |
| Marrua | Inferred Resource | 54 | 4.1 | 80 | 3.3 | 2.2 | 1.8 | 0.1 | 0.1 |
| Quinga North | Inferred Resource | 71 | 3.5 | 80 | 2.8 | 2.5 | 2.0 | 0.1 | 0.2 |
| Quinga South | Inferred Resource | 71 | 3.4 | 80 | 2.7 | 2.4 | 1.9 | 0.1 | 0.2 |
| Total Resources | 5,900 | 3.1 | 82 | 2.7 | 180 | 160 | 3.6 | 11 | |
Resources are additional to Reserves
The data is in accordance with the JORC Code (2004) (Australian Code for Reporting Ore Reserves and Mineral Resources).
The Competent Person for the Namalope Reserves and Resources and Nataka Resource is Colin Rothnie (MAusIMM), a full time employee of Kenmare. The Competent Person for the other Resources is Dr. Alastair Brown (FIMMM).
THM is total heavy minerals of which ilmenite (81%), rutile (2.3%) and zircon (6.4%) total 90%.
Tonnes and grades have been rounded, and hence small differences may appear in totals.
The Project, which is based on proven technology, will consist of 2 dredges, dredge pond, concentrator plant, minerals separation plant, access road, export jetty with product storage and loading facility, electrical transmission and stand-by generation facilities, accommodation village and other related infrastructure. The Project will produce in excess of 800,000 tonnes of four ilmenite products p.a. containing between 50% and 60% TiO2. In addition, 47,000 tonnes of zircon and 18,000 tonnes of premium grade rutile will be produced per annum as co-products. At this stage a 20 year mine plan is being used, although the resource life greatly exceeds this.
Moma's competitive advantages are:
- location on the coast near major shipping routes
- ability to use low cost dredge mining rather than more expensive dry-mining methods
- surface mineralisation (ie. no overburden)
- current ownership of concentrator and separation plant
- low cost power
- substantial additional resources for expansion
- ilmenite products which do not require beneficiation and which can be sold into both sulphate and chloride titanium feedstock markets; and
- high value co-products
Moma Licence Areas:
