PLD brings Admiral Bay Resource up to JORC 2012

THE DRILL SERGEANT: PLD Corporation (ASX: PLD) has completed a review of historical data from the Admiral Bay project, located in the coastal region of the Great Sandy Desert in Western Australia.

The review has enabled the company to now re-state the historical drill hole results and Mineral Resource Estimation (MRE) outputs in compliance with the JORC Code 2012.

PLD claims the results of the review confirm the project to be one of the world’s most substantial undeveloped zinc deposits.

The MRE for the Admiral Bay project currently stands at:

72 million tonnes at 5.4 per cent zinc equivalent (ZnEq) for 4.31 million tonnes of contained zinc and lead.

According to PLD higher grade zones of greater than 5 per cent zinc or lead as well as substantial intersections (20m–75m) indicate potential to improve the MRE.

The MRE is currently limited to a 2.1 kilometre strike of an 18km long mineralised corridor, which has been partially drill tested achieving a high success rate of mineralised drill intersections, which the company has also interpreted to indicate potential to improve the MRE.

PLD indicated it is now compiling a Mineral Resource upgrade and conducting a metallurgical testwork review as part of the due diligence process.

“The review confirms Admiral Bay as a Tier 1 zinc deposit…which shows extraordinary continuity,” PLD Corporation managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“The company is now working through a Mineral Resource upgrade and metallurgical testwork review as part of the due diligence process.

“Discussions have commenced with a wide range of potential development partners,”