Tin – Mineral Resource & Ore Reserve Estimates

Metals X Limited > Tin – Mineral Resource & Ore Reserve Estimates

Mineral Resource & Ore Reserve Estimates​

Mineral Resource Estimate

The Mineral Resource estimate for the Renison Tin Operations is in compliance with the JORC Code (2012 Edition) and is as of 31 March 2020 and was published on 17 June 2020. There has been no material change to the Mineral Resource estimates since the date of this publication.

Metals X equity share is 50% of the Mineral Resource estimates shown below.

RENISON TIN OPERATIONS MINERAL RESOURCE ESTIMATE

  1. Mineral Resources are reported inclusive of Mineral Resources modified to produce the Ore Reserve;
  2. Tonnes are reported as kilo tonnes (‘000t) and rounded to the nearest 10,000; Sn and Cu tonnes are rounded to the nearest 100 tonnes; rounding may result in some slight apparent discrepancies in totals.
  3. Cut-off grade of 0.7% Sn.
  4. Cut-off Grade of 0.0% Sn.
  5. The Rentails Mineral Resource is at 31 May 2018.
  6. The 31 March 2019 Renison Tin Operation Mineral Resource estimate included a defined Mineral Resource for the Mt Bischoff deposit. During the year a decision was made to rehabilitate the Mt Bischoff open pit which, when complete, will have the effect of sterilising the defined Mineral Resource. On this basis, BMTJV has written-off the Mt Bischoff Mineral Resource for the 31 March 2020 estimation.  

Ore Reserve Estimate

The Ore Reserve estimate for the Renison Tin Operations is in compliance with the JORC Code (2012 Edition) and is as of 31 March 2020 and was published on 17 June 2020. There has been no material change to the Ore Reserve estimate since the date of this publication.

Metals X equity share is 50% of the Ore Reserve estimate shown below.

RENISON TIN OPERATIONS ORE RESERVE ESTIMATE

  1. The Renison Bell Ore Reserve is based on the Mineral Resource estimate at 31 March 2020 with applied modifying factors, at a cut-off grade of 0.7% Sn.
  2. Tonnes are reported as kilo tonnes (‘000t) and rounded to the nearest 10,000; Sn and Cu tonnes are rounded to the nearest 100 tonnes; rounding may result in some slight apparent discrepancies in totals.
  3. The Renison Tailings Retreatment Project (Rentails) Ore Reserve is unchanged from that reported as at 31 March 2017 (refer to ASX Announcement of 28 August 2017), at a cut-off grade of 0.0% Sn

Competent Person’s Statements

The information in this report that relates to Mineral Resources has been compiled by Bluestone Mines Tasmania Joint Venture Pty Ltd technical employees under the supervision of Mr Colin Carter B.Sc. (Hons), M.Sc. (Econ. Geol), AusIMM. Mr Carter is a full-time employee of the Bluestone Mines Tasmania Joint Venture Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities which he is 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 Carter 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 in this report that relates to Ore Reserves has been compiled by Bluestone Mines Tasmania Joint Venture Pty Ltd technical employees under the supervision of Mr Mark Recklies, B Engineering (Mining Engineering), AusIMM. Mr Recklies is a full time employee of the Bluestone Mines Tasmania Joint Venture Pty Ltd. Mr Recklies has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities which he is 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 Recklies consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.