REG - Firering Strategic - Maiden JORC-Code Compliant MRE at Limeco
27/11/2024 07:00
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RNS Number : 8341N Firering Strategic Minerals PLC 27 November 2024
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
27 November 2024
Firering Strategic Minerals plc
("Firering" or "the Company")
Maiden JORC-Code Compliant MRE at Limeco
Providing support for Limeco's Tier 1 quicklime operations for at least 50
years
Firering Strategic Minerals plc (Firering), an emerging quicklime production
and critical mineral exploration company, is pleased to announce a maiden
JORC-code compliant Mineral Resource Estimate ("MRE") for its quicklime
project in Zambia ("Limeco" or the "Project"), which is being fast-tracked
towards an imminent phased commissioning.
HIGHLIGHTS
· 97% increase in resource tonnes compared to the previous
non-compliant 2017 MRE.
· MRE totals 145.2Mt at 95.7% CaCO3, comprising 11.8Mt in the Measured
category, 55.4Mt in Indicated, and 78.0Mt in Inferred.
· Provides for over 50 years of potential quicklime production.
· Pit optimisation indicates a negligible stripping ratio with low
sensitivity to costs and pricing.
Yuval Cohen, Chief Executive of Firering, said: "I am delighted to announce a
maiden JORC-compliant MRE, which almost doubles the resource tonnage of the
Project based on the previous non-code resource, and which supports over 50
years of quicklime production. This firmly positions Limeco to become the
largest quicklime producer in Zambia and a prominent regional player for many
years to come, enabling it to meet the growing demands of the copper industry
and other industrial clients.
"Earthlab has once again demonstrated that Limeco's high-quality Tier 1
limestone deposit forms the foundation of its robust quicklime business.
Following the identification of three distinct domains within the Project, A,
B, and C, including the new exploration licence granted in September, Domain A
has been the primary area of focus. However, Domains B and C present
significant opportunities for Limeco to unlock additional value in the future,
with potential applications across various industries."
DETAILS
Aligned with its strategy to fully capitalise on the significant market
opportunities for quicklime in the Zambian Copperbelt, given its essential
role in copper production, Firering commissioned Earthlab Exploration and
Mining Consulting (Pty) Ltd ("Earthlab") to undertake a maiden JORC-compliant
MRE for its Limeco quicklime project in Zambia. This study incorporated
Limeco's newly granted exploration licence (see RNS dated 3 September 2024).
The newly published MRE (November 2024) revealed a 97% increase in tonnage
compared to Limeco's 2017 non-compliant estimated mineral resource of 73.7Mt
at 95.3% CaCO3. The updated estimate totals 145.2Mt at 95.7% CaCO3, comprising
11.8Mt in the Measured category, 55.4Mt in Indicated, and 78.0Mt in Inferred
(Table 2).
Notably, the maiden MRE enables over 50 years of potential quicklime
production.
The MRE incorporates a detailed analysis of the deposit's geological
structure, including its physical and chemical properties and associated
facies. The local geology is characterised by a depositional setting typical
of a lagoonal-shoals shelf environment, where wind and still water deposited
sediments forming wackstone, packstone and upward grainstone in horizontal to
wavy grey laminated layers (Figure 1).
Figure 1: Proposed depositional setting of the project area (Saller, 2001).
Based on the geological interpretation and the chemical signatures displayed
by the exploration data, Earthlab was able to divide the limestone deposit
into geological facies with unique chemical data populations. The demarcated
geological facies coincide with statistical domains that have been processed
geostatistically to produce the MRE (Figure 2).
Figure 2: Plan view of the domain wireframes with drill hole collars
superimposed (Earthlab, November 2024).
To estimate the resource tonnes, Earthlab created a potential final pit shell
(Figure 3) by applying modifying factors as per the guidelines of JORC, which
dictate that resource tonnes should be estimated based on Reasonable Prospects
for Eventual Economic Extraction ("RPEEE").
Figure 3: Representation of the pit shell; the lime plant can be seen in the
upper right corner (Earthlab, November 2024).
Earthlab completed the mineral resource classification for the entire model
(Figure 4) and for the final pit shell (Figure 5).
Figure 4: Final classification for Domains A, B, and C (Earthlab, November
2024).
Figure 5: Final classification for the optimised pit shell (Earthlab, November
2024).
PIT OPTIMISATION RUNS
Earthlab's pit optimisation runs indicated a negligible stripping ratio with
low sensitivity to costs and pricing (Table 1).
Table 1: Sensitivity of ore tonnage to changes in plant operating costs and
quicklime prices (Earthlab, November 2024).
Table 1 shows that by more than doubling the lime plant operating costs from
USD7 per ROM tonne to USD15 per ROM tonne, while keeping the quicklime price
at USD150 per saleable tonne, the change in ore tonnage is -1,175,180 tonnes
or -0.76%, which is neglectable.
Earthlab decided to use the pit shell of run 13 shown in Table 1, which was
based on a lime plant OPEX of USD15 per ROM tonne and a quicklime price at the
gate of USD150 per saleable tonne, which Earthlab states are both
conservative. The pit shell shown in Figure 3 above is derived from run 13 in
Table 1.
MAIDEN JORC COMPLIANT MRE
The gross Mineral Resource for Domain A is 145.2 Mt comprising 11.8 Mt in
Measured, 55.4Mt in Indicated and 78.0Mt in Inferred (Table 2).
Table 2: Domain A gross Mineral Resource for Limeco Resources (Earthlab,
November 2024).
Total gross potential saleable quicklime for Domain A is 31.9Mt comprising
2.6Mt in Measured, 12.1Mt in Indicated and 17.2Mt in Inferred (Table 3).
Table 3: Domain A gross potential saleable quicklime for Limeco Resources
(Earthlab, November 2024).
Total gross potential saleable aggregate for Domain A is 87.1Mt comprising
7.1Mt in Measured, 33.2Mt in Indicated and 46.8Mt in Inferred (Table 4).
Table 4: Domain A gross potential saleable aggregate for Limeco Resources
(Earthlab, November 2024).
Deon du Plessis, Chief Executive Officer of Earthlab, said: "Completing the
JORC compliant MRE for Firering proved to be a very exciting project. Our
research indicated that the key to understanding Limeco's deposit was its
chemical characteristics in addition to its geological information. Our work
clearly showed three Domains A, B and C, each with a unique chemical
fingerprint. Our JORC compliant MRE is only for Domain A, which is the high
grade CaCO3/CaO domain with low MgCO3/MgO and Fe2O3, making this domain
perfect for the production of high-quality quicklime through Limeco's lime
plant. Earthlab considers Limeco's deposit a significant deposit providing
Limeco with decades of high-quality limestone for its quicklime operation.
The upside and production scalability of Limeco's deposit puts it in the Tier
1 category, when compared to other limestone deposits".
Competent Person
In accordance with the AIM Rules - Note for Mining and Oil & Gas
Companies, the information contained in this announcement has been reviewed by
Mr. Deon du Plessis. Mr du Plessis is a qualified professional Geologist
(Pr.Sci.Nat. - 400050/05) and Fellow of the Geological Society of South Africa
(FGSSA - 963338). Mr du Plessis has over 22 years of relevant experience
within the geology and mining sectors.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
*** ENDS ***
For further information visit www.fireringplc.com or contact:
Firering Strategic Minerals
Yuval
Cohen
E: info@firering-holdings.com
SPARK Advisory Partners Limited (Nominated Adviser)
Neil Baldwin / James Keeshan / Adam
Dawes
T: +44 20 3368 3550
Optiva Securities Limited (Joint Broker)
Christian Dennis / Daniel
Ingram
T: +44 20 3137 1903
Shard Capital Partners LLP (Joint Broker)
Damon Heath / Erik
Woolgar
T: +44 20 7186 9950
St Brides Partners Limited (Financial PR)
Isabel de Salis / Susie Geliher / Seb
Weller E:
firering@stbridespartners.co.uk
Notes
Firering Strategic Minerals plc is an AIM listed resource company set to
commence commissioning a significant quicklime project in Zambia in Q4 2024 to
produce 600-800 tonnes of quicklime per day along with ancillary products.
With over US$100 million in historical investment, the project is
strategically positioned to support the expanding copper producers in the
Zambian Copper Belt, which are currently reliant on imported quicklime from
South Africa. Firering currently holds an SPA over a 20.5% stake in Limeco
Resources Limited ("Limeco") with 16.7% already accumulated and an option to
increase this to 45%. Additionally, the Company is advancing the Atex
Lithium-Tantalum Project in northern Côte d'Ivoire, an exploration project
rich in lithium and tantalum-niobium, with drilling results indicating
significant resource potential in this established mining jurisdiction.
Criteria: JORC Table 1 - Section 1: Sampling techniques and data
Explanation Answer
Sampling Techniques
· Nature and quality of sampling (e.g., cut channels, random chips, or · Diamond drilling core samples were split into half-core and cut into
specific specialised industry-standard measurement tool appropriate to the sample intervals, which were submitted to the labs. Where duplicates were sent
minerals under investigation, such as down hole gamma sondes, or handheld XRF to multiple labs, the half-core samples were split into quarter-core samples
instruments, etc). These should not be taken as limiting the broad meaning of (field duplicates).
sampling.
· Sampling was done across the entire depth of each drill hole,
· Include reference to measures taken to ensure sample representivity excluding only the unconsolidated overburden material. Sample lengths ranged
and the appropriate calibration of any measurements or systems used. from 10 cm to >8 m, but mostly ranged between 1 and 2 m which captured a
reasonable representation of the alternating material types. 92% of assay
· Aspects of the determination of mineralisation that are Material to samples were sampled to material type geological contacts.
the Public Report. In cases where 'industry standard' work has been done this
would be relatively simple (e.g., 'reverse circulation drilling was used to · The sampling SOP dictated sample collection methodology and insertion
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for of quality control samples.
fire assay'). In other cases, more explanation may be required, such as where
there is coarse gold that has inherent sampling problems. Unusual commodities · The total amount of assay samples captured in the dataset was 6,959
or mineralisation types (e.g., submarine nodules) may warrant disclosure of samples.
detailed information.
· Multiple labs have been used for analyses. Sample preparation and
analysis methods were not disclosed for samples analysed by Mopani, Ndola,
Alex Stewart, or Limeco.
Samples analysed by SGS: <3kg were dried at 105°C for 4 hours, pulverised
to 90% passing 2.36 mm, split 250 g - 1 kg and pulverised to 85% passing 75
μm. CaO, CaCO(3), MgO, Fe(2)O(3), and Al(2)O(3) were analysed by atomic
absorption spectrometry (AAS) after multi-acid (HNO(3)/HClO(4)/HCl/Hf)
digestion using 0.4 g pulp. Volume was bulked up to 100 ml. Determination of
available CaO was by titration. SiO(2) was measured with AAS after sodium
fusion.
Drilling Techniques
· Drill type (e.g., core, reverse circulation, open-hole hammer, rotary · Drill data used in this Mineral Resource was only that of diamond
air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple core drilling (HQ and NQ core sizes).
or standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc). · Eighty-five (85) drill holes were drilled at a -60° angle to
intersect the 30-40° dipping lithology at an approximately perpendicular
angle.
· Fifty-three (53) drill holes were drilled vertically.
· Downhole surveys were not performed.
· Drill core was not orientated.
Drill Sample Recovery
· Method of recording and assessing core and chip sample recoveries and · Core recovery was measured and calculated from the core with an
results assessed. average of >95% core recovery in the 81 drill holes which were subjected to
basic Geotech logging.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Core recovery was low in areas where unconsolidated overburden
material, cavities, or clay material were intersected.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of · Measures taken to maximise core recovery were not recorded in
fine/coarse material. historical reports.
· No clear correlation was observed between grade and core recovery.
Logging
· Whether core and chip samples have been geologically and · Geological logging was qualitative and was completed to the level of
geotechnically logged to a level of detail to support appropriate Mineral detail sufficient to support Mineral Resource modelling and estimation, mining
Resource estimation, mining studies and metallurgical studies. studies, and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or · Basic Geotech logging was done on 81 drill holes with several
costean, channel, etc.) photography. quantitative variables. Advanced geotechnical analysis was done on 6 drill
holes to quantify cohesion, internal angle of friction, and modulus of
· The total length and percentage of the relevant intersections logged. elasticity.
· Drill holes were logged and sampled from top to bottom, which equated
to 9,115 m of geological logging entries across the 138 drill holes (100% of
the total drilled length).
Sub-Sampling Techniques and Sample Preparation
· If core, whether cut or sawn and whether quarter, half or all core · HQ and NQ core was split into half-core - one half for sampling, the
taken. other half retained for future reference. When samples were sent to a single
lab, half-core samples were submitted. When sent to multiple labs, the core
· If non-core, whether riffled, tube sampled, rotary split, etc and was split into quarter-core to create field duplicates which were sent to the
whether sampled wet or dry. respective labs. Sampling procedures were guided by the SOP.
· For all sample types, the nature, quality, and appropriateness of the · Multiple labs have been used for analyses. Sample preparation and
sample preparation technique. analysis methods were not disclosed for samples analysed by Mopani, Ndola,
Alex Stewart, or Limeco.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · Samples analysed by SGS: <3kg were dried at 105°C for 4 hours,
pulverised to 90% passing 2.36 mm, split 250 g - 1 kg and pulverised to 85%
· Measures taken to ensure that the sampling is representative of the passing 75 μm. CaO, CaCO(3), MgO, Fe(2)O(3), and Al(2)O(3) were analysed by
in-situ material collected, including for instance results for field atomic absorption spectrometry (AAS) after multi-acid (HNO(3)/HClO(4)/HCl/Hf)
duplicate/second-half sampling. digestion using 0.4 g pulp. Volume was bulked up to 100 ml. Determination of
available CaO was by titration. SiO(2) was measured with AAS after sodium
· Whether sample sizes are appropriate to the grain size of the fusion.
material being sampled.
· Sample preparation techniques were assumed to be appropriate for
limestone samples to be analysed for the respective elements.
· No details were available on quality control procedures adopted to
maximise representivity during sub-sampling, however, this was not a concern
for the CP given the type of deposit and mineralisation.
· Sampling was mostly done to material type geological contacts from
top to bottom of the drill holes. Field duplicates (quarter-core) samples were
analysed.
· Sample sizes were appropriate for the type of bulk commodity deposit
and its mineralisation.
Quality of Assay Data and Laboratory Tests
· The nature, quality and appropriateness of the assaying and · Where AAS was used by SGS, the method was total. Insufficient details
laboratory procedures used and whether the technique is considered partial or were available on sample preparation for ICP analysis. Where titration was
total. possibly used, it would have been a partial technique.
· For geophysical tools, spectrometers, handheld XRF instruments, etc, · The analysis techniques used on the accepted samples (excluding Ndola
the parameters used in determining the analysis including instrument make and results) were regarded as appropriate and acceptable for this type of
model, reading times, calibrations factors applied and their derivation, etc. commodity, deposit, and grade ranges.
· Nature of quality control procedures adopted (e.g., standards, · The use of reputable laboratories such as Alex Stewart and SGS and
blanks, duplicates, external laboratory checks) and whether acceptable levels the comparison of these labs' results with Mopani added to the general
of accuracy (i.e., lack of bias) and precision have been established. confidence in the assay results.
· 2012 - 2013: The sample batches did not include CRMs and blanks
inserted by the geologist. No details were available on the in-house QC
samples that would've been inserted by the labs. Field duplicates (quarter
core) were sent to an umpire laboratory (Alex Stewart) at a rate of 1 in every
10 samples. Despite the lack of comprehensive blind QC, the comparison (mean
error) between the main lab (Mopani) and the umpire/secondary lab (Alex
Stewart) leads to the acceptance of the results.
· 2017: According to the SOP, AMIS0250 CRMs were inserted at a rate of
1 CRM after every 14 samples. Duplicates were prepared for every 10(th) sample
in a 60-sample batch. Blanks were inserted at the beginning, end, and at every
12(th) sample. Pass/fail criteria dictated by the SOP. SGS inserted their own
in-house QC samples as well to monitor accuracy, precision, and contamination.
Both Mopani and SGS reported a consistent negative bias in the AMIS0250
attributed to the different matrix of the CRM (fluorspar and dolomite). The
use of the CRM was ceased. No contamination was measured. Precision
performance for the target element, Ca, as well as Mg were very good. The mean
error between Mopani and SGS suggested that Mopani results could be accepted
based on the reputability of SGS.
Verification of Sampling and Assaying
· The verification of significant intersections by either independent · No verification drilling or sampling was done as part of this Mineral
or alternative company personnel. Resource Estimation.
· The use of twinned holes. · No drill holes were twinned. General geology could be confirmed in
the historical quarry where mining took place in 2016.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols. · Lab results were received in the form of lab certificates and
presumably spreadsheets. Spot checks were done by Earthlab to compare the
· Discuss any adjustment to assay data. assay dataset and the scanned lab certificates.
· Data has been stored mostly in Microsoft Excel workbooks as well as
Microsoft Access tables. Standard logging sheets were used by geologists, but
no details regarding electronic data-capturing procedures were available.
· No adjustments made to assay data other than disqualification during
data validation steps, and top-capping after compositing.
Location of Data Points
· Accuracy and quality of surveys used to locate drill holes (collar · DGPS was used to survey collar coordinates which is significantly
and down-hole surveys), trenches, mine workings and other locations used in more accurate than an ordinary GPS.
Mineral Resource estimation.
· No historical reported information on downhole surveys but based on
· Specification of the grid system used. the single data record per drill hole, it was presumed that downhole surveys
were not done and the orientation of the drill rig setup was recorded for the
· Quality and adequacy of topographic control. drill holes that ranged between approximately 60 and 90 m in drill length.
· All coordinates are in Arc 1950 UTM Zone 35S.
· The topographic scan was limited and did not cover the entire project
area. The surface was expanded using the drill hole collars. The topography in
the area is flat gradually ranging from 1,190 to 1,200 mamsl.
Data Spacing and Distribution
· Data spacing for reporting of Exploration Results. · Drill hole collar spacing varies across the project, ranging between
50, 100, 175, 200, 250, and 350 m and was appropriate for Mineral Resource
· Whether the data spacing, and distribution is sufficient to establish Estimation of a bulk limestone deposit. The average spacing based on a simple
the degree of geological and grade continuity appropriate for the Mineral formula is 143 m. The widest spacing was sufficient for Inferred Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied. Resource Classification, while the area with tight spacing (50 - 100 m on
average) included Indicated and Measured classification.
· Whether sample compositing has been applied.
· Samples were taken from top to bottom of the drill holes at lengths
ranging on average between 1 and 2 m.
· Samples were composited to 1.25 m in vertical drill holes and 1.45 m
in angled drill holes to represent equal vertical support which was 50% of the
resource block's vertical dimension (2.5 m).
Orientation of Data in Relation to Geological Structure
· Whether the orientation of sampling achieves unbiased sampling of · Although angled drill holes intersecting the lithology at an
possible structures and the extent to which this is known, considering the approximately perpendicular angle were more ideal than the vertical drill
deposit type. holes intersecting it at an angle, the possible bias/effect caused by this in
a bulk deposit such as this would be negligible. The deposit is a bulk
· If the relationship between the drilling orientation and the limestone deposit and therefore "mineralisation" isn't limited to key
orientation of key mineralised structures is considered to have introduced a structures.
sampling bias, this should be assessed and reported if material.
Sample Security
• The measures taken to ensure sample security. • Core and sample transport procedures were dictated by the SOP and
the core has been securely stored in shipping containers inside a fenced
storage yard. No details regarding the sample chain of custody were available.
Audits or Reviews
• The results of any audits or reviews of sampling techniques and • No official internal or external audits have been reported on that
data. Earthlab knows of.
• Golder (2017) reviewed and improved some of the interpretation,
methodology, and work previously done by Mopani (2013).
• Earthlab reviewed the historical work by Mopani (2013) and Golder
(2017). While Earthlab accepted the logging and assay data, Earthlab applied
its own, new interpretation and created a new geological model and Mineral
Resource Estimation.
Criteria: JORC Table 1 - Section 2: Reporting of Exploration Results
Explanation Answer
Mineral Tenement and Land Tenure Status
• Type, reference name/number, location and ownership including • The current owner of the project is Limeco Resources Limited
agreements or material issues with third parties such as joint ventures, (Limeco), with Firering Strategic Minerals PLC (Firering), owning 20.5% of
partnerships, overriding royalties, native title interests, historical sites, Limeco based on a binding shares purchase agreement (SPA) with the company.
wilderness or national park and environmental settings. Firering is also granted an option to acquire an additional 24.5% interest in
Limeco which will then increase Firering's shareholding to 45%.
• The security of the tenure held at the time of reporting along with
any known impediments to obtaining a licence to operate in the area. • Limeco is leasing two farm portions adjacent to each other. Both
farms are leased for 100 years from 1 June 1975. The farms are subdivision '1'
of subdivision 'K' of farm 688 (Certificate number: 307409) occupying 206.94
Ha and subdivision '581' of subdivision 'A' of farm number 1957 (Certificate
number: 315597) occupying 260.04 Ha.
• License number 21279-HQ-MPL (Mineral Processing Licence) is owned by
Limeco under the Mines and Mineral Development Act of 2015 (Act No. 11 of
2015). License 21279-HQ-MPL was granted on 21-11-2016 and is valid until
20-11-2041 for Limestone production. The license has a size 382.68 Ha and is
owned by Limeco.
• A small-scale exploration license 37483-HQ-SEL has been granted on
09-08-2024 over a portion of the property to Limeco and covers 148.43 Ha for
the exploration of limestone and marble, which is valid until 08-08-2028.
• A second small-scale exploration license 37900-HQ-SEL was granted on
15-08-2024 and is valid until 14-08-2028 for the exploration of dolomite,
feldspar, granite, graphite, limestone, marble, mica, quartz, talc-soapstone,
tin and tungsten over the 392.51 Ha.
Exploration Done by Other Parties
• Acknowledgment and appraisal of exploration by other parties. • The historical exploration work by Mopani in 2013 and Golder in 2017
that makes up all the data used for this Mineral Resource Estimate was
discussed in this CPR.
Geology
• Deposit type, geological setting, and style of mineralisation. • The project is underlain by Precambrian meta-sediments which host
intrusions of basic and granitic rocks. The basement complex comprises of
Palaeozoic calcareous quartzite and biotite gneiss. The Katanga Supergroup
unconformably overlies the basement complex rocks and contain the limestone
and dolomites, likely from the lower Kundelungu Group on the Lusaka Plateau
(Lusaka Dolomite Formation as mentioned in Golder Associates, 2017). The rocks
of the Katanga Supergroup show regional-scale metamorphism. These rocks are
covered by quaternary sediments.
• The Lusaka Plateau comprises three formations namely the Lusaka
Dolomite Formation, Cheta Formation and the Chunga Formation. The lowermost
geological unit is the Chunga Formation which comprises basement rocks
including gneiss and quartzites. The overlying Cheta Formation comprises
schist and quartzite and is dominated by thick and extensive sequences of
carbonates. The Lusaka Dolomite Formation is the uppermost geological unit and
comprises calcareous and dolomitic marbles.
• It was interpreted that this limestone was deposited on a
lagoon-shoal shelf, where wind and still water deposited sediments forming
wackstone, packstone and upward grainstone in horizontal to wavy grey
laminated layers. Due to the geological time period of deposition, the
atmosphere was already rich in oxygen which could give rise to the deposition
of iron-rich minerals or layers within the limestone deposits. Where the
limestone is more dolomitic in composition and in contact with more calcitic
limestone, greater water retention occurs leading to the internal weathering
of these iron-rich minerals or layers. If specific conditions occurred in the
dolomite during deposition, the dissolution of the dolomite occurs, which
could also lead to iron-rich phases forming including hematite and
ferrihydrite.
Drill Hole Information
· A summary of all information material to the understanding of the · Historical drill holes were used for the compilation of this MRE. The
exploration results including a tabulation of the following information for information is tabulated in Table 36 in Appendix A: Drill Hole Summary of this
all Material drill holes: report.
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level -elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data Aggregation Methods
· In reporting Exploration Results, weighting averaging techniques, · During initial analysis at material type resolution (pre-compositing)
maximum and/or minimum grade truncations (e.g., cutting of high grades) and length-weighting was applied. Vertical holes' sample lengths were adjusted
cut-off grades are usually Material and should be stated. with a correction factor of cos(30°) to be used with close to equal support
when combined with the angled holes' samples.
· Where aggregate intercepts incorporate short lengths of high-grade
results and longer lengths of low-grade results, the procedure used for such · Compositing was done within domain boundaries. Vertical holes
aggregation should be stated and some typical examples of such aggregations composited to 1.25 m and angled holes to 1.45 m to have fair vertical support.
should be shown in detail.
· Topcapping was applied after compositing and is disclosed in detail
· The assumptions used for any reporting of metal equivalent values in Table 12 in this CPR.
should be clearly stated.
· No metal equivalents were reported.
Relationship Between Mineralisation Widths and Intercept Lengths
· These relationships are particularly important in the reporting of · The dip and dip direction/strike of the lithology were measured on
Exploration Results. outcrop and inside the historical quarry and used to guide the modelling,
geostatistical analysis and estimation. The drill holes are fully situated
· If the geometry of the mineralisation with respect to the drill hole within the bulk limestone, and therefore the only case where the relationship
angle is known, its nature should be reported. between interception length and geological geometry is relevant is the waste
domain, Domain D.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (e.g., 'down hole length, true
width not known').
Diagrams
· Appropriate maps and sections (with scales) and tabulations of · Appropriate and relevant diagrams are included in this CPR.
intercepts should be included for any significant discovery being reported.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced Reporting
· Where comprehensive reporting of all Exploration Results is not · Reporting of Exploration Results in this CPR is balanced. The report
practicable, representative reporting of both low and high grades and/or does not only include the positive results e.g. the significant number of
widths should be practiced to avoid misleading reporting of Exploration drill holes, the high CaO grade, and the large Mineral Resource, but also
Results. includes "negative" and real aspects of the work such as the reporting of
missing information, presence of erroneous data, and deleterious element
grades restricting certain domains from being declared as Mineral Resources.
Other Substantive Exploration Data
· Other exploration data, if meaningful and material, should be · Golder (2017) incorporated trench observations in their
reported including (but not limited to): geological observations; geophysical interpretation and modelling. Earthlab did not have access to the raw data of
survey results; geochemical survey results; bulk samples-size and method of trenches but did not consider this as a limitation.
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances. · Mopani (2017) and Golder (2017) mentioned that resistivity survey and
hydrogeological work were done, but Earthlab did not incorporate it in this
MRE due to not having access to the data or the interpretation.
· Golder (2017) measured bulk density by the calliper method on 48 of
the 2017 drill holes. Earthlab accepted 625 bulk density samples.
· Golder (2017) performed basic geotech logging on 81 drill holes.
Advanced geotechnical analysis was done on 6 drill holes to quantify cohesion,
internal angle of friction, and modulus of elasticity.
· Maerz performed chemical analysis, shatter tests, decrepitation
tests, and burning tests. Cimprogetti did chemical, mineralogical, and thermal
(TG and DTG) analysis and slaking tests. Details can be found in individual
reports or compiled and summarised in EARTH-FIRE-PO_#-2-Desktop_Study_1.
· Limeco also routinely performs burning tests in their on-site
laboratory.
· The limestone is to be processed into quicklime, and therefore the
other chemical constituents measured (Mg, Fe, Al, and Si) would be considered
as deleterious substances as the higher their concentration, the less pure the
quicklime. The concentrations of these elements were also estimated to be used
in the Mineral Resource definition.
· The stockpiles consisted of a 72:28 ore (B1, B2, B8)-waste (B3-B7 +
soil) ratio.
Further Work
· The nature and scale of planned further work (e.g., tests for lateral · Mine design and scheduling should be prioritised as the next study
extensions or depth extensions or large-scale step-out drilling). work to be completed.
· Diagrams clearly highlighting the areas of possible extensions, · Infill drilling in near-term mining areas should be prioritised over
including the main geological interpretations and future drilling areas, step-out drilling to extend the model outward.
provided this information is not commercially sensitive.
· Further burning tests should be performed under conditions that
resemble kiln conditions as much as possible to refine the understanding of
the calcination behaviour and physical properties of the material.
Criteria: JORC Table 1 - Section 3: Estimation and Reporting of Mineral
Resources
Explanation Answer
Database Integrity
· Measures taken to ensure that data has not been corrupted by, for · Details on historical measures taken to ensure that data was not
example, transcription or keying errors, between its initial collection and corrupted were not available for review.
its use for Mineral Resource estimation purposes.
· Earthlab performed spot verification checks to compare logged data
· Data validation procedures used. with markings on the core as well as assay data with the lab certificates.
· Earthlab performed rigorous data validation to clean and/or
disqualify erroneous data. Validation steps are reported in detail in Section
6.3.
Site Visits
· Comment on any site visits undertaken by the Competent Person and the · Earthlab's Senior Resource Geologist conducted a site visit on behalf
outcome of those visits. of the CP in September 2024. The CP could not conduct the site visit at the
specific time due to unavailability. Earthlab verified the existence of the
· If no site visits have been undertaken indicate why this is the case. drill core and did various spot checks comparing logging and sampling
intersections in the database with those marked on the core. The site visit
also entailed a visit to the existing lime plant, navigating to drill hole
collars in the field, and taking structural measurements inside the historical
quarry.
Geological Interpretation
· Confidence in (or conversely, the uncertainty of) the geological · Earthlab has substantial confidence in the geological interpretation
interpretation of the mineral deposit. based on the regional and local geological setting, the chemical assay
results, as well as the burning tests.
· Nature of the data used and of any assumptions made.
· Earthlab based the model on historical diamond drill core logged and
· The effect, if any, of alternative interpretations on Mineral assayed, as well as structural measurements. Earthlab used the lithological
Resource Estimation. categorisation done by Golder (2017). Apart from the validation steps
implemented by Earthlab, Earthlab relied on the assumption that where detailed
· The use of geology in guiding and controlling Mineral Resource information and meta-data were lacking in the database the historical data
Estimation. would have been produced through acceptable good practice.
· The factors affecting continuity both of grade and geology. · Being a bulk limestone deposit, the Mineral Resource Estimation was
controlled by the lithology and chemistry of the geology.
· While continuity was difficult to establish at the level of
individual material types (B1-B8), at the level of general lithology (and
grade) (limestone and dolomite) the continuity is very good and the extents of
the formation were not intersected with drilling and is therefore still open
in all directions.
Dimensions
· The extent and variability of the Mineral Resource expressed as · While the model extends wider, the portion declared as a Mineral
length (along strike or otherwise), plan width, and depth below surface to the Resource has the following dimensions:
upper and lower limits of the Mineral Resource.
o Along strike (NW-SE): ~2,500 m
o Along dip (SW-NE): ~150 - 650 m
o Vertical: From surface to 80 m below the surface
Estimation and Modelling Techniques
· The nature and appropriateness of the estimation technique(s) applied · Most of the statistical and geostatistical analyses were done in
and key assumptions, including treatment of extreme grade values, domaining, Snowden Supervisor v9.0. Datamine StudioRM v2.0.66 was used for the grade
interpolation parameters and maximum distance of extrapolation from data estimation and classification.
points. If a computer assisted estimation method was chosen include a
description of computer software and parameters used. · Estimation domains were modelled based on chemical differences of the
limestone.
· The availability of check estimates, previous estimates and/or mine
production records and whether the Mineral Resource estimate takes appropriate · Topcapping (tabulated in Table 12) was done on composites based on
account of such data. various statistical parameters and visualisations. Topcappings were all at
(varying) percentiles ranging between 98.8 and 99.9 while reducing the
· The assumptions made regarding recovery of by-products. arithmetic mean by 0.2 - 1.5%.
· Estimation of deleterious elements or other non-grade variables of · Due to limited data in Domains B and C, variography was done in
economic significance (e.g., sulphur for acid mine drainage characterisation). Domains A, B, and C combined, given the gradual grade differences. Estimation
was done within each domain separately but using the same variograms.
· In the case of block model interpolation, the block size in relation
to the average sample spacing and the search employed. · Ordinary kriging was applied to estimate grade in Domain A, B, and C.
Inverse Power of Distance to the power of 3 was used in Domain D.
· Any assumptions behind modelling of selective mining units.
· Four passes were run, each remaining constant in dimensions equal to
· Any assumptions about correlation between variables. variogram ranges.
· Description of how the geological interpretation was used to control o Run 1: Minimum 5 samples, maximum 20 samples. Minimum of 3 octants. Maximum
the resource estimates. of 3 samples per drill hole.
· Discussion of basis for using or not using grade cutting or capping. o Run 2: Minimum 4 samples, maximum 20 samples. Minimum of 3 octants. Maximum
of 3 samples per drill hole.
· The process of validation, the checking process used, the comparison
of model data to drill hole data, and use of reconciliation data if available. o Run 3: Minimum 3 samples, maximum 20 samples. Minimum of 3 octants. Maximum
of 3 samples per drill hole.
o Run 4: Minimum 5 samples, maximum 20 samples. No octants required. Maximum
of 3 samples per drill hole.
· The model was extrapolated to 200 m beyond data extents along strike,
100 m along dip, and 20 m in the vertical beyond the maximum depth of the
drill holes.
· This Mineral Resource is based on newly created domains due to the
new chemical interpretation, but the average grades are relatively similar to
previous estimates' grades.
· Historical mining data was not incorporated in this Mineral Resource
apart from the principle that the lithology and orientation below the surface
could be confirmed during the site visit.
· Resource parent blocks were 25 mX by 25 mY by 2.5 mZ, allowing
subcelling down to 5 mX by 5 mY by 2.5 mZ. No change of support was
implemented to selective mining unit-sized blocks. The parent block dimensions
in X and Y were ~50% of the tightest sample spacing, 25% of the slightly
wider-spaced areas, and 7 - 12% of the widest-spaced areas (Inferred).
· In general, CaO (main variable of interest) was negatively correlated
with the other (deleterious) variables. Weak but-existent correlations were
noted between the respective deleterious variables. MgO and Fe(2)O(3) showed
good correlations in the variograms, as well as Al(2)O(3) and SiO(2), which
led to using the same variogram for MgO and Fe(2)O(3), and Al(2)O(3) and
SiO(2).
· The geological interpretation and modelling relied on the chemical
differences spatially. The geological (chemical) domains were also the
estimation domains for grade estimation.
· Model validation (Section 15.5) included:
o Visual comparison between composites and blocks
o Swath plots
o Composite arithmetic mean compared with block model arithmetic mean
o CaO - CaCO(3) ratio check
o Sum of oxides and LOI adding up to 95% - 105%.
o Bootstrapping CaO.
Moisture
· Whether the tonnages are estimated on a dry basis or with natural · Based on the moisture measured by Maerz and Cimprogetti, it was
moisture, and the method of determination of the moisture content. assumed that internal moisture would be negligible and therefore tonnage is on
a dry basis.
Cut-Off Parameters
· The basis of the adopted cut-off grade(s) or quality parameters · The Mineral Resource is not based on a CaO (main variable of
applied. interest) cut-off grade.
· In an attempt to keep deleterious elements in the quicklime product
below a certain specification, blocks in Domain A2 where the MgO in quicklime
(not limestone) was estimated to be >5% were classified as waste before pit
optimisation.
· Based on the deleterious element concentrations in Domains B and C
concerning quicklime, only Domain A was considered for the Mineral Resource.
Mining Factors or Assumptions
· Assumptions made regarding possible mining methods, minimum mining · Material will be extracted by conventional open pit mining/quarrying,
dimensions and internal (or, if applicable, external) mining dilution. It is using rigid or articulated dump trucks, backhoe excavators, and ancillary
always necessary as part of the process of determining reasonable prospects equipment.
for eventual economic extraction to consider potential mining methods, but the
assumptions made regarding mining methods and parameters when estimating · Pit optimisation was completed using cost parameters reported in this
Mineral Resources may not always be rigorous. Where this is the case, this CPR and using a pit slope angle of 55° based on geotechnical analysis.
should be reported with an explanation of the basis of the mining assumptions
made. · The monthly ROM tonnes at steady state with the current lime plant
configuration of eight (8) vertical kilns is estimated at 84,075 tonnes of
limestone feeding into the installed primary jaw crusher of the two-stage
crushing circuit.
· Blast hole drilling will take cognisance of material types and waste
contacts for grade control purposes as well as appropriate fragmentation. The
waste material (B5 and B6 material types) has higher concentrations of Fe and
has a yellowish/brownish colouration (contrasting from the grey colours of the
material types of the Mineral Resource), which will be spotted and controlled
during drilling and loading activities in the pit. It will be necessary to
conduct on-site XRF analysis of the blast hole drilling samples to monitor the
CaO% and the deleterious concentrations for grade control purposes based on
cut-off or topcut grades in terms of product specifications. The blast holes
will be charged with emulsion explosives. These explosives will be detonated
remotely from a safe distance. After successful blasting operations, the
broken rock will be removed by excavators following a dig plan and loaded onto
trucks, which will transport the material to designated waste and ROM areas.
· Mining could be conducted in 5 or 10 m benches (minimum flitch size
will be 2.5 m, in line with the original z-height of the parent cell
dimension, which will be the smallest mining unit). Flitches of the waste
material may vary between 2.5 m and 10 m for both blasting and loading
activities.
Metallurgical Factors or Assumptions
· The basis for assumptions or predictions regarding metallurgical · Material burning tests have been performed by Maerz Laboratory and
amenability. It is always necessary as part of the process of determining Cimprogetti Lime Technologies. Ongoing burning tests are also performed in the
reasonable prospects for eventual economic extraction to consider potential on-site laboratory.
metallurgical methods, but the assumptions regarding metallurgical treatment
processes and parameters made when reporting Mineral Resources may not always · The target quicklime specifications for the Mineral Resource were set
be rigorous. Where this is the case, this should be reported with an to:
explanation of the basis of the metallurgical assumptions made.
o CaO: >90%
o MgO: <2.5%
o Fe(2)O(3): <1.0%
o Al(2)O(3): <1.0%
o SiO(2): <2.0%
· The lime plant comprises the following (Investor Presentation,
October 2024):
o Two-stage crushing circuit with an installed primary throughput capacity of
300 tonnes per hour of limestone (a jaw and an impact crusher). Two sets of
screens follow the crushing circuit: a double and a triple deck.
o Eight (8) vertical kilns for burning crushed limestone (+60 mm -90 mm
fraction separated by the double deck screen), to produce an average of 700
tonnes of quicklime per day. From the crushing circuit, the -60 mm stream will
go to the triple deck screen to split into three aggregate size fractions.
o Renovations are being done on one of the kilns. The previous heat source of
Heavy Fuel Oil (HFO) is being replaced by a Coal gasifier. The HFO containers
are rented out to a third party for fuel storage.
o At steady state the estimated quicklime output per regular production month
is estimated as 18,900 tonnes.
o Other products will be generated from the -60 mm fraction which among other
include aggregate and cement for the local construction industry.
Environmental Factors or Assumptions
· Assumptions made regarding possible waste and process residue · Coal gasifiers will be used as a heat source to burn the limestone
disposal options. It is always necessary as part of the process of determining inside the vertical kilns to drive the CO(2) gas off to produce saleable
reasonable prospects for eventual economic extraction to consider the quicklime with the maximum allowable impurities in the final product. Coal ash
potential environmental impacts of the mining and processing operation. While is planned to be sold to the cement industry.
at this stage the determination of potential environmental impacts,
particularly for a greenfields project, may not always be well advanced, the · The environmental impact of the dust generated by the vertical kilns
status of early consideration of these potential environmental impacts should during the burning process should be considered. A filtration system to
be reported. Where these aspects have not been considered this should be capture the dust to be discarded as waste, saleable product or treated in an
reported with an explanation of the environmental assumptions made. environmentally accepted manner should be considered.
· Due to the low stripping ratio (0.2), the dumped waste will not be
sufficient to backfill the entire quarry post-mining.
· The bulk mineral deposit is open at depth, which means that
concurrent rehabilitation will not be possible, to prevent sterilisation of
mineable limestone.
· Environmental and other impacts of the eventual back-fill of the void
should be considered.
· A pre-identified graveyard/burial site is located on the deposit and
sterilises a portion of the deposit currently. A buffer zone of 65 m around
the demarcated area is included in the exclusion area. This stand-off distance
should be reviewed in future and adjusted if necessary. This area is excluded
from the Mineral Resource.
Bulk Density
· Whether assumed or determined. If assumed, the basis for the · Tonnage was based on a single dry bulk density value of 2.68 t/m(3)
assumptions. If determined, the method used, whether wet or dry, the frequency applied across the entire model.
of the measurements, the nature, size, and representativeness of the samples.
· The calliper method was used to measure density in core samples. The
· The bulk density for bulk material must have been measured by methods SOP did not state whether samples were dried before weighing, but Earthlab
that adequately account for void spaces (vugs, porosity, etc), moisture and made the assumption that the personnel who performed the measurements would
differences between rock and alteration zones within the deposit. have followed good practice and dried the samples before weighing.
· Discuss assumptions for bulk density estimates used in the evaluation · Sample lengths ranged mostly between ~8 and 13 cm, at intervals
process of the different materials. ranging mostly between 2 and 6 m.
· 619 samples were accepted ranging between 2.24 and 3.59 t/m(3),
topcapped (2 samples) to 3.2, resulting in an arithmetic mean of 2.68 t/m(3).
· Density was accepted as representative of the model.
· Although cavities exist in the geology, it was decided to account for
the loss in tonnage by means of a geoloss factor applied to the Mineral
Resource, and not accounted for in the density.
· Based on the moisture measured by Maerz and Cimprogetti, it was
assumed that internal moisture would be negligible and therefore tonnage is on
a dry basis.
· No correlation was noted between grade and density, nor between depth
and density, therefore justifying using a constant density value across the
entire model.
· A constant density value 2.0 t/m(3) was applied to the overburden.
Classification
· The basis for the classification of the Mineral Resources into · Earthlab performed extensive data validation on the input data and
varying confidence categories. accepted the final input data as reliable. Earthlab was of the opinion that
even if the true downhole paths of the drill holes were slightly different
· Whether appropriate account has been taken of all relevant factors from the paths desurveyed from single orientations, or even if there were a
(i.e., relative confidence in tonnage/grade estimations, reliability of input slight error in the assay values, the Mineral Resource would still be
data, confidence in continuity of geology and metal values, quality, quantity, applicable given the nature of the deposit being a bulk commodity with good
and distribution of the data). grade continuity.
· Whether the result appropriately reflects the Competent Person's view · Earthlab considered Kriging Efficiency and Slope of Regression as the
of the deposit. two geostatistical parameters informing the classification, while also
considering drill hole spacing, number of samples used, and whether the model
was interpolated or extrapolated.
· Geostatistical scorecard:
o Measured:
§ KE: 0.8 - 1.0
§ SR: 0.8 - 1.0
o Indicated:
§ KE: 0.4 - 0.8
§ SR: 0.6 - 0.8
o Inferred:
§ KE: <0.4
§ SR: <0.6
· The CP is comfortable with the classification, especially given the
type of deposit, amount of drilling, and existence of a historical quarry.
Audits or Reviews
· The results of any audits or reviews of Mineral Resource Estimates. · No official audits or reviews have been conducted on this MRE.
Discussion of Relative Accuracy / Confidence
· Where appropriate a statement of the relative accuracy and confidence · Bootstrapping was performed on CaO in the entire Domain A to
level in the Mineral Resource estimate using an approach or procedure deemed determine a 95% confidence interval of the mean. The range of the 95%
appropriate by the Competent Person. For example, the application of confidence interval was extremely narrow/precise at just 0.4%. The estimated
statistical or geostatistical procedures to quantify the relative accuracy of mean of CaO in Domain A was within the 95% confidence interval. Confidence
the resource within stated confidence limits, or, if such an approach is not intervals were not calculated for other elements or domains and were only done
deemed appropriate, a qualitative discussion of the factors that could affect for the entire Domain A, not local portions separately.
the relative accuracy and confidence of the estimate.
· Despite historical mining, no production data was available to
· The statement should specify whether it relates to global or local compare with the estimate.
estimates, and, if local, state the relevant tonnages, which should be
relevant to technical and economic evaluation. Documentation should include
assumptions made and the procedures used.
· These statements of relative accuracy and confidence of the estimate
should be compared with production data, where available.
APPENDICES
Glossary of Terms
Term Explanation
AAS Atomic Absorption Spectrometry - A technique used to measure the concentration
of a specific metal or metalloid in a sample. AAS detects elements in either
liquid or solid samples through the application of characteristic wavelengths
of electromagnetic radiation from a light source. Individual elements will
absorb wavelengths differently, and these absorbances are measured against
standards.
Bootstrapping Bootstrapping is a statistical resampling method used to estimate the
properties of a dataset, such as its mean, variance, or confidence intervals,
by repeatedly sampling with replacement from the original data. This technique
is particularly useful when the underlying distribution of the data is unknown
or when the sample size is too small to rely on traditional parametric
methods. Bootstrapping creates multiple "resampled" datasets, computes the
desired statistic for each, and uses the distribution of these statistics to
make inferences.
Calcination Calcination is a thermal decomposition process in which material, typically
carbonate, is heated to a high temperature in the absence of air or oxygen to
remove volatile components. In the context of limestone processing,
calcination involves heating calcium carbonate (CaCO₃) in a kiln to produce
calcium oxide (CaO), also known as quicklime, by driving off carbon dioxide
(CO₂). Calcination is fundamental in various industrial applications,
including the production of cement, lime, and the processing of ores in
metallurgy, as it alters the physical and chemical properties of the raw
materials to achieve desired characteristics.
Caliper Method The Caliper Method is a simple and direct measurement technique used to
determine the thickness or dimensions of a sample, typically in geological,
mining, or engineering applications. This method involves using a calliper - a
precision instrument with a sliding scale or digital display-to measure the
width, diameter, or thickness of an object. The dimensions are used to
calculate the sample's volume which is then used with its weight to calculate
its density.
Compositing Compositing is the process of combining multiple individual samples into a
single representative sample to provide an averaged result across the samples
which simplifies analysis. The technique is used to meet the requirement of
using equal-length samples in geostatistical analysis and estimation.
Chain of Custody Chain of Custody refers to the documented and unbroken process of handling
samples, data, or materials from collection through transport, storage,
analysis, and final disposal or reporting. It ensures the integrity,
traceability, and accountability of the sample or material, minimising the
risk of tampering, loss, or contamination.
CRM Certified Reference Material (CRM) is a high-quality, well-characterised
material that has been certified for one or more specific properties or
analytes by a technically valid procedure. CRMs come with a certificate that
provides the certified values, measurement uncertainties, and traceability to
a recognised standard. CRMs are used as benchmarks to ensure accuracy and
precision in analytical measurements.
CPR Competent Persons Report is an independent assessment of a company's mineral
properties, including its Mineral Resources and Ore Reserves, reported and
signed off by one or more Competent Persons.
Cut-off Grade Cut-off grade is the minimum grade or concentration of a mineral or metal in
ore required for it to be economically viable to extract and process. It acts
as a threshold that determines whether material is classified as ore
(profitable to process) or waste (uneconomical). The cut-off grade depends on
several factors, including metal prices, mining and processing costs, recovery
rates, and market conditions.
Domain In geology, a domain often describes a spatially distinct region with
consistent/homogenous geological, mineralogical, or geochemical
characteristics, such as a mineralised zone or lithological unit. Domains are
used to model ore bodies, analyse spatial distributions of elements, and guide
resource estimation.
DGPS Differential Global Positioning System - An advanced navigation and
positioning system that enhances the accuracy of standard Global Positioning
System (GPS) measurements. DGPS uses a network of fixed ground-based reference
stations to correct GPS signals, significantly reducing errors caused by
satellite orbit variations, atmospheric interference, and clock discrepancies.
Geoloss A geological loss factor is applied to the Mineral Resource to account for a
loss in the material of interest due to the discontinuation of the geological
unit or the inability to mine the material due to geological conditions.
Geological loss is expressed as a percentage by which a Mineral Resource is
discounted. There are two types termed "Known" and "Unknown" losses. Mineral
Resources are discounted by the total approximated geological losses.
Geostatistics A branch of statistics that analyses and predicts spatial data. It uses
statistical models to incorporate spatial coordinates into data acquisition,
allowing for the following: describing and modelling spatial data, predicting
values at unsampled points, and evaluating the uncertainty of estimates.
Geotechnical logging A process that involves the detailed examination of rock from drill holes or
excavation sites to collect data about their quality and structure. The data
collected can include information on rock fracture frequency; weathering; rock
mass quality; joint conditions; and type, location, orientation, and surface
conditions of fractures.
HQ A letter name specifying the dimensions of bits, core barrels, and drill
rods in the H-size and Q-group wireline diamond drilling system having a core
diameter of 63.5 mm and a hole diameter of 96 mm.
ICP Inductively Coupled Plasma (ICP) is an analytical technique used to detect and
quantify trace elements and isotopes in a wide range of sample types. It
relies on a high-temperature plasma-created by ionizing argon gas using an
electromagnetic field-as an energy source to excite atoms and ions in the
sample. These excited species emit characteristic wavelengths of light, which
are measured using a spectrometer.
Indicated An Indicated Mineral Resource is that part of a Mineral Resource for which
quantity, grade or quality, densities, shape and physical characteristics, can
be estimated with a level of confidence sufficient to allow the appropriate
application of technical and economic parameters, to support mine planning and
evaluation of the economic viability of the deposit. The estimate is based on
detailed and reliable exploration and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits,
workings and drill holes that are spaced closely enough for geological and
grade continuity to be reasonably assumed.
Inferred An Inferred Mineral Resource is that part of a Mineral Resource for which
quantity and grade or quality are estimated on the basis of limited geological
evidence and sampling. Geological evidence is sufficient to imply but not
verify geological and grade or quality continuity. It is based on exploration,
sampling and testing information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill holes. An
Inferred Mineral Resource has a lower level of confidence than that applying
to an Indicated Mineral Resource and must not be converted to an Ore Reserve.
It is reasonably expected that the majority of Inferred Mineral Resources
could be upgraded to Indicated Mineral Resources with continued exploration.
Inverse Power of Distance The inverse power of distance is a mathematical method of interpolation.
Samples are weighted proportional to the inverse of the distance between each
sample and the point estimated.
JORC Joint Ore Reserves Committee - The Australian Code for Reporting of
Exploration Results, Mineral
Resources and Ore Reserves (the JORC Code) is a professional code of practice
that sets minimum standards for Public Reporting of Exploration Results,
Mineral Resources and Ore Reserves.
Kriging Efficiency Kriging efficiency is a geostatistical metric that measures the effectiveness
of the kriging estimate to reproduce the local block grade accurately. A
higher Kriging Efficiency value means a lower degree of over-smoothing and a
more robust estimate.
Measured A Measured Mineral Resource is that part of a Mineral Resource for which
quantity, grade or quality, densities, shape, and physical characteristics are
estimated with confidence sufficient to allow the application of Modifying
Factors to support detailed mine planning and final evaluation of the economic
viability of the deposit. Geological evidence is derived from detailed and
reliable exploration, sampling and testing gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings and drill
holes, and is sufficient to confirm geological and grade (or quality)
continuity between points of observation where data and samples are gathered.
A Measured Mineral Resource has a higher level of confidence than that
applying to either an Indicated Mineral Resource or an Inferred Mineral
Resource. It may be converted to a Proven Ore Reserve or under certain
circumstances to a Probable Ore Reserve.
NQ A letter name specifying the dimensions of bits, core barrels, and drill rods
in the N-size and Q-group wireline diamond drilling system having a core
diameter of 47.6 mm and a hole diameter of 75.7 mm.
Optimised Pit Shell The outline of an optimal open pit/quarry that maximises net present value
while meeting operational requirements. The process of determining the pit
shell is called pit optimisation, and it's a key preceding step in designing
and scheduling open pit mines. The goal of pit shell optimisation is to find
the pit shell that generates the highest net present value for a given deposit
while adhering to limitations imposed such as geotechnical or spatial limits.
Ordinary Kriging Ordinary Kriging is a geostatistical interpolation method used to estimate
unknown values at unsampled locations based on known data points while
minimising estimation variance. It assumes that the mean of the data is
unknown but stationary across the area of interest. Ordinary Kriging uses
spatial autocorrelation, quantified through a variogram, to weigh the
influence of nearby data points, giving greater weight to those closer to the
estimation location while also considering each data point's location relative
to other data points.
QAQC Quality Assurance and Quality Control refers to the systematic processes and
procedures implemented to ensure the accuracy, precision, and reliability of
data, results, and operations in various industries, including mining,
geology, and laboratory analysis. QAQC ensures that data and processes meet
predefined standards, providing confidence in decision-making, regulatory
compliance, and reporting in exploration, resource estimation, and other
critical applications.
Quicklime Quicklime, also known as calcium oxide (CaO), is a white, caustic, and
alkaline material produced by the thermal decomposition of limestone (calcium
carbonate, CaCO₃) in a lime kiln at high temperatures (approximately
900-1,000°C). This process, known as calcination, removes carbon dioxide
(CO₂), leaving behind quicklime.
Resource Classification Defined as classes or categories as per the JORC Code (2012) in decreasing
confidence levels as Measured, Indicated and Inferred.
RPEEE Reasonable Prospects for Eventual Economic Extraction - a technical and
economic assessment of the factors that could affect the possibility of
extracting a resource economically. These factors include:
Mining, Metallurgical and Processing, Economic, Marketing, Legal,
Infrastructure, Environmental, Social, and Governmental. It's a principle used
to define mineral resources and is a key component of the Definition Standards
for Mineral Resources.
ROM Run-of-mine refers to the raw, unprocessed ore material as it is extracted
from the mine, and ready for processing in the plant where it will be
subjected to treatment including crushing, screening, and in this project's
case calcination.
SOP Standard Operating Procedure - A document that provides step-by-step
instructions for how to perform a specific task.
Slope of Regression The Slope of Regression is a geostatistical metric that measures the degree of
over-smoothing of the high and low grades and represents the regression slope
of the estimated block grades against the corresponding true, but unknown
block grades.
SPA A Share Purchase Agreement (SPA) is a legally binding contract that outlines
the terms and conditions for the sale and transfer of shares in a company. It
is typically used in mergers and acquisitions, private equity transactions, or
business sales, ensuring that both the buyer and seller agree on key details
of the transaction.
Subcelling Subcelling refers to the process of subdividing large parent blocks in the
block model into smaller blocks to honour domain wireframe boundaries more
accurately.
Topcapping Topcapping, also known as grade capping or outlier capping, is a data
processing technique used in resource estimation to limit the influence of
extremely high values, or outliers, in a dataset.
Variography Variography is the process of analysing and modelling spatial variability in a
dataset by examining how values of a variable change with distance and
direction. It is a fundamental tool in geostatistics, used to quantify spatial
relationships and create models for resource estimation, environmental
studies, and other applications where spatial continuity is important.
XRF X-ray fluorescence is a non-destructive analytical technique used to determine
the elemental composition of materials. It works by exposing a sample to
high-energy X-rays, causing the atoms in the sample to emit secondary
(fluorescent) X-rays at characteristic wavelengths. These emitted X-rays are
detected and analysed to identify and quantify the elements present.
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. END DRLPPGMCGUPCUQMRecent news on Firering Strategic Minerals
See all newsREG - Firering Strategic - Increases Interest in Zambian Quicklime Project
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