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Mineral Commodities kicks goal with maiden De Punt resource

Updated: May 20

Mineral Commodities has defined an impressive mineral resource at its half-owned De Punt project in South Africa. Credit: File

Mineral Commodities has tabled a maiden mineral resource at its De Punt project in South Africa of 66.1 million tonnes at an impressive 16.9 per cent total heavy minerals (THM) for 11.19 million tonnes THM.

The official resource brings the company’s total Tormin project mineral resource to an estimated 282.6 million tonnes at 10.9 per cent THM, containing a massive 30.8 million tonnes THM. The upgrade represents a 31 per cent increase in Tormin mineral resource tonnes and a whopping 57 per cent increase for in-situ heavy minerals.

And the company says it has even more potential to increase its resource, considering only one of seven targets has been drilled at De Punt.

The De Punt maiden high grade mineral resource allows the company to target extending production another 13km south, along strike of our Inland Strands deposit, expand our existing Western Strandline orebodies. Mineral Commodities interim chief executive officer Adam Bick

Tormin, in South Africa’s Western Cape province, is said to host some of the highest-grade mineral sands in the world and supplies about a quarter of the global demand for garnet sands. It is wholly-owned by Mineral Sands Resources (MSR), which in turn is currently 50 per cent-owned by Mineral Commodities. However, Mineral Commodities last month signed an agreement to up its stake in MSR to 69 per cent.

The company and its “empowerment partner”, Blue Bantry Investments 255, each own half of MSR, which was granted the prospecting right for De Punt in July last year.

Mineral Sands’ first phase of drilling was aimed at resource definition in the western strandline, which showed up as a 13km linear magnetic anomaly in recent geophysical surveys and represents an old inland shoreline above the current sea level. The survey also showed an eastern strandline with an aggregate 8km length, which remains undrilled.

Management says its increase to the overall resource at the greater project reflects its focused commitment to its strategic plan that aims to increase Tormin’s asset value by expanding mineral resources and reserves through organic growth, with the aim of significantly increasing production and returning the operation to historical profitability levels.

While the results of the recent campaign proved successful due to the size of the drill rig used, including the air compressor, drilling sometimes proved difficult at depth where gravels and bedrock were encountered.

But Mineral Commodities says there are no mining factors which affect the assumption that the deposit has reasonable prospects for economic mining.

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