LACONIA RESOURCES LIMITED - MAJOR RESOURCE UPGRADE AT LENNONS FIND PROJECT
Perth based exploration company Laconia Resources Limited (ASX: LCR) is pleased to announce a major Mineral Resource upgrade at the Lennons Find Project Base Metals project, in the eastern Pilbara region of Western Australia.
Highlights
- Major Resource upgrade at Lennons Find Project of 1.85Mt @11.4 % Zinc equivalent1.
- New Resource represents a 37% increase in contained Zinc metal (equivalent) over previous estimate.
- Resource also includes a new oxide Resource of 197,000t @ 89g/t silver, 0.37g/t gold, 0.2% copper, 1.2 % lead and 1.4% zinc2.
- New Resource estimated from 42 hole, 1,939 metre drill program at Lennons Find3.
- Metallurgical testing of the oxide Resource has commenced and preliminary results are expected by the end of January.
Database and QAQC
QAQC analysis of inserted standards indicates acceptable levels of accuracy in the data. Resource consultants, Optiro, carried out validation checks on the database provided by Laconia and found no significant issues.
Geological
Interpretation Optiro modelled the mineralisation based on interpretation strings provided by Laconia. The Hammerhead deposit and Bronze Whaler and Tiger prospects were modelled to a nominal 2% Zn Eq cut-off.
Competent Persons Statement
Mr Michael Andrew who is a member of the Australasian Institute of Mining and Metallurgy has compiled the information within this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves. Mr Andrew is a full time employee of Optiro Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consents to the inclusion of this information in the form and context in which it appears in this report.
For further information, please read the full ASX Announcement by Laconia Resources Limited: HERE