Krucible Metals releases Torrington tungsten update

THE DRILL SERGEANT: Krucible Metals (ASX: KRB) announced a JORC 2012-compliant updated Mineral Resource estimate for the company’s Torrington tungsten project in New South Wales.

Krucible acquired the Torrington tungsten project earlier this year from Resolve Geo Pty Ltd, which had previously estimated a combined Indicated and Inferred Resource estimate for the project of 1.164 million tonnes at 0.19 per cent tungsten for 2,247 tonnes tungsten.

Under the terms of the acquisition, Resolve was contracted to complete an update of the mineral resource, which has come in at 2.146 million tonnes at 0.23 per cent tungsten for 4,965 tonnes tungsten.

Resolve has also completed an Exploration Target estimate for Torrington based on historic workings aand previous drilling and mining records, which has been calculated to comprise 5 to 39 million tonnes at 0.063 to 0.5 per cent tungsten.

Krucible Metals said it intends undertaking an extensive RC percussion and diamond drilling program at Torrington to further delineate the existing JORC resources and to test the validity of exploration targets.

“This work will commence once all approvals are in place, which the company is led to believe by the authorities will take about six months,” Krucible Metals said in its ASX announcement.

“The company’s initial production profile as announced to ASX on 15 April, 2015 of 650,000 tonnes per annum (inclusive of dilution) at an ore grade of 0.22 per cent tungsten remains unchanged.

“The doubling of the Indicated and Inferred Resource together with the potential of the Exploration Targets provides the confidence to proceed with the planned drill program at Torrington targeting resources in excess of 10,000 tonnes of contained tungsten at a cut-off grade of 0.063 per cent tungsten.”

Email: info@kruciblemetals.com.au

Website: www.kruciblemetals.com.au