Today S32 made two announcements:
ILLAWARRA METALLURGICAL COAL, COAL RESERVES UPDATE
www.investegate.co.uk/article.aspx?id=2 ... 4359C&fe=1
HERMOSA PROJECT - MINERAL RESOURCE DECLARATION
www.investegate.co.uk/article.aspx?id=2 ... 4358C&fe=1
In the first S32 announces:
changes to its estimates of Coal Reserves for Illawarra Metallurgical Coal following the conclusion of a commercial agreement to relinquish a portion of its Mining Lease in the Appin area.
Coal Reserves for the Bulli seam have been reduced by 22Mt to 114Mt following the change. The Coal Reserves for the Wongawilli seam are unchanged.
In the second S32
is pleased to report for the first time a Mineral Resources estimate for the Taylor Deposit which forms part of its 100% owned Hermosa Project located in Arizona, USA (Appendix 1 - Figure 1). The Mineral Resource (Table A) is reported in accordance with the JORC Code (2012) guidelines at 155 million tonnes, averaging 3.39% zinc, 3.67% lead and 69 g/t silver with a contained 5.3 million tonnes of zinc, 5.7 million tonnes of lead and 344 million ounces of silver. The Mineral Resource remains open at depth and laterally, with multiple targets to be tested as we continue our extensive surface drilling program.