TIDMAURA
RNS Number : 3608Q
Aura Energy Limited
17 October 2023
17 October 2023
Aura identifies new uranium Exploration Target extending from existing
Tiris Project Resources
========================================================================
KEY POINTS:
* Aura identifies an Exploration Target aimed to expand
the existing 58.9 Mlbs U(3) O(8) Tiris Project
Resource (113Mt at grade of 236ppm U(3) O(8) ), which
was defined at an exploration cost of US$0.20 per lb
U(3) O(8) .
* Preliminary work has identified seven Exploration
Targets in Tiris East as extensions of the existing
resources 30 - 60 Mt at 120 - 240 ppm U(3) O(8) for 8
- 32 Mlbs U(3) O(8.)
* The new Exploration Targets highlight the potential
for the Tiris Project to achieve world-class scale.
* Exploration Target will be tested with a 15,500m
drilling exploration program planned to commence
imminently.
* Proving up additional resources is likely to expand
the ore available to the Tiris Project and
potentially facilitate modular expansion. The
Front-End Engineering Design (FEED) study is 80%
complete, and pre-construction activities will
commence at the Tiris Project.
========================================================================
Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or "the
Company") is pleased to announce it has acquired additional
radiometric survey data, reviewed historical drilling results, and
identified strong indications of mineralisation extensions on
Aura's existing tenements that could significantly expand Aura's
current Tiris Project ("Project") 58.9 Mlbs U O resource.
Aura has signed contracts for an exploration program of 15,500m
air core drilling over 78.1 km(2) on existing tenements, aiming to
significantly increase the Inferred Mineral Resource at the Tiris
Project in Mauritania by extending the existing resources. The
mobilisation of the drilling contractor will commence on October
16(th) , with the program commencing soon after.
The potential quantity of the Exploration Target is conceptual
in nature. There has been insufficient exploration of these targets
to estimate a Mineral Resource, and it is uncertain whether this
exploration effort will result in an estimation of a Mineral
Resource.
Aura Managing Director David Woodall said,
"Aura's strategy is to be development-ready in relation to our
Tiris Project, and this strategy is progressing and accelerating as
we aim to expand our mineral resource.
The near-term, low-cost, producer status of our Tiris Project
was confirmed by our March 2023 Enhanced Definitive Feasibility
Study [1] . Further resource expansion towards 100m lbs of U O
progresses the project towards a global scale and reinforces the
potential for Mauritania to be a material producer in the near
term. The robust economics of our Tiris Uranium Project will be
further enhanced by increasing our mineral resources and reserves.
Due to the modular nature of the project, we see outstanding
opportunities to grow the annual production capacity of the project
to 3.5Mlb per annum, equivalent to the planned back-end plant
capacity."
"To that end, Aura will commence key pre-construction
activities, including the geotechnical drilling of the proposed
plant site, and allow some trial mining to provide valuable data in
the production planning for the Tiris operation once
developed."
Figure 1 - Tiris Project Exploration Program Target Areas
The exploration program will be conducted on existing granted
tenements targeting the expansion of the Mineral Resources at the
Tiris Project. It will focus on the Exploration Target shown in
Table 1 below.
Range Tonnage and Grade Expectations Range Exploration Target
Resource Area Tonnes Lower Tonnes upper Grade Lower U Grade Upper U Lower Range Upper Range
(Mt) (Mt) O (ppm) O (ppm) Mlbs U(3) O(8) Mlbs U(3) O(8)
--------------- --------------- --------------- --------------- --------------- ---------------
Tiris East [2] 30 60 120 240 8 32
--------------- --------------- --------------- --------------- --------------- ---------------
Total Target 30 60 120 240 8 32
--------------- --------------- --------------- --------------- --------------- ---------------
Table 1 - Proposed Exploration Target [3]
Exploration Target Estimate
A significant level of exploration has previously been
undertaken by Aura on the currently held tenements, resulting in a
Global Mineral Resource Estimate (MRE) of 113Mt at an average grade
of 236ppm U(3) O(8) containing 58.9 Mlbs U(3) O(8) [4] , which was
reported in a market announcement ("Major Resource Upgrade at Aura
Energy's Tiris Project"), dated 14(th) February 2023. The MRE has
been based on 21,990 metres of drilling in 5,619 holes for a total
project cost of US$11.9M or US$0.20 per lb U(3) O(8) .
Area Class Tonnes (Mt) U(3) O(8) U(3) O(8)
(ppm) (Mlbs)
========== ============ ==========
Hippolyte North Measured 8.0 236 4.2
========== ============ ========== ==========
Indicated 5.8 217 2.8
========== ============ ========== ==========
Inferred 4.7 212 2.2
========== ============ ========== ==========
Sub-Total 18.5 224 9.1
========== ============ ========== ==========
Hippolyte Marie &
West Inferred 8.2 310.0 5.6
========== ============ ========== ==========
Hippolyte South Indicated 4.6 192 2.0
========== ============ ========== ==========
Inferred 2.7 176 1.1
========== ============ ========== ==========
Sub-Total 7.4 186 3.0
========== ============ ========== ==========
Lazare North Measured 1.0 282 0.6
========== ============ ========== ==========
Indicated 10.1 229 5.1
========== ============ ========== ==========
Inferred 3.7 210 1.7
========== ============ ========== ==========
Sub-Total 14.8 228 7.4
========== ============ ========== ==========
Lazare South Measured 8.6 233 4.4
========== ============ ========== ==========
Indicated 5.2 226 2.6
========== ============ ========== ==========
Inferred 4.8 222 2.3
========== ============ ========== ==========
Sub-Total 18.6 228 9.3
========== ============ ========== ==========
Sadi Measured 11.5 189 4.8
========== ============ ========== ==========
Indicated 7.4 200 3.2
========== ============ ========== ==========
Inferred 10.3 228 5.2
========== ============ ========== ==========
Sub-Total 29.2 206 13.2
========== ============ ========== ==========
All Deposits Measured 29.1 218 14.0
========== ============ ========== ==========
Indicated 33.0 215 15.6
========== ============ ========== ==========
Inferred 34.5 237 18.0
========== ============ ========== ==========
Total Tiris East 96.6 224 47.7
========== ======================== ==========
Oum Ferkik Inferred 16.4 305.0 11.2
========== ============ ========== ==========
Total Aura Resources 113.0 236 58.9
========== ======================== ==========
Table 2 - Tiris Mineral Resource Estimate [5]
Historical drilling has shown a strong relationship between
mineralisation and zones of high radiometric signature, as seen in
Figures 1 and 2.
Additional radiometric survey data recently acquired revealed
several newly high radiometric anomalies not yet drilled.
Continuing our earlier work, geologists have defined a series of
Exploration Targets (shown in Figure 1) where the relationship
between radiometric signature and mineralisation suggests further
Exploration Targets may be available. Importantly, all targets are
proximate to or contiguous with existing Inferred Resources and
have yet to be tested by drilling.
Area Resources and Mlbs/km(2) of Anomaly Determined
Resource Area Name Tonnes (Mt) U O (ppm) U O (Mkg) U O (Mlb) Surface Area (km(2)) Mlbs return U O
/km(2)
------------ ---------- ---------- ---------- --------------------- ---------------------
Hippolyte East 228 1.8
------------ ---------- ---------- ---------- --------------------- ---------------------
Hippolyte Marie and
West 8.2 310 2.5 5.6 3.1 1.8
------------ ---------- ---------- ---------- --------------------- ---------------------
Hippolyte North 18.5 224 4.1 9.1 7.4 1.2
------------ ---------- ---------- ---------- --------------------- ---------------------
Hippolyte South 7.4 186 1.4 3.0 5.6 0.5
------------ ---------- ---------- ---------- --------------------- ---------------------
Lazare North 14.8 228 3.4 7.4 9.7 0.8
------------ ---------- ---------- ---------- --------------------- ---------------------
Lazare South 18.6 228 4.2 9.3 12.7 0.7
------------ ---------- ---------- ---------- --------------------- ---------------------
Sadi 29.2 206 6.0 13.2 33.6 0.4
------------ ---------- ---------- ---------- --------------------- ---------------------
Oum Ferkik East 4.5 240 1.1 2.4 3.1 0.8
------------ ---------- ---------- ---------- --------------------- ---------------------
Oum Ferkik West 11.9 330 4.0 8.8 2.9 3.0
------------ ---------- ---------- ---------- --------------------- ---------------------
Total 113.1 26.7 58.8 78.1
------------ ---------- ---------- ---------- --------------------- ---------------------
Table 3 - Tiris Project Relationship of Radiometric Signature to
Mineral Resource Estimate
The Exploration Targets are focused on calcrete-style uranium
deposits and lay beneath flat land surfaces with shallow
overburden.
The uranium mineralisation generally lies within weathered,
partially decomposed red granite or in colluvial gravels developed
on or near red granites. Small portions occur in other rock types,
such as meta-volcanics and meta-sediments. The mineralisation is
believed to have developed within shallow depressions or basins,
where colluvial material has accumulated in desert sheet wash
events. The pebbles within the gravels are generally unweathered
fragments washed in from the nearby exfoliating granites and other
crystalline rocks, mixed with sand, silt, calcrete, gypsum and
yellow uranium vanadates. This mineralised veneer of relatively
unconsolidated material is typically less than 5 metres in
thickness, although locally, it can occur up to 12 metres in depth.
It forms continuous deposits on the plains or occurs in depressions
amongst granite outcrops.
Defined Mineral Resource Estimates [6] occur within high
radiometric anomalies identified by airborne geophysical surveys.
Several radiometric anomalies within currently held Leases have yet
to be tested, and many previously drilled areas remain open at
boundaries. Additionally, only high radiometric signature anomalies
have been tested. Aura's geology team have determined that there is
a possibility that the lower-level anomalies may contain economic
resources or that the anomalies have been partially or fully
obscured by sand cover.
Details of Target tonnage and grade calculations for the
Exploration Target are presented in Table 4 . In all cases within
the Tiris East and West areas, the inputs to the calculation of the
Exploration Target have been estimated using data from radiometric
anomalies near a target, which have been tested by drilling and
included in the Mineral Resource Estimate.
The potential Exploration Target, expressed as Mlbs U(3) O(8)
/km(2), for each exploration area, has been determined using the
metal return from drilling completed at each resource area adjacent
to the nearest Inferred Resource, as shown in Table 3.
Tonnage and Grade Expectations Range Exploration
Target
Resource Area Name Tonnes Tonnes Grade Grade Upper Lower
Upper (Mt) Lower (Mt) Upper U Lower U Range Range
O (ppm) O (ppm)
------------ ------------ --------- --------- --------- ---------
Hippolyte East 6 3 228 114 3 1
------------ ------------ --------- --------- --------- ---------
Hippolyte Marie
and West 17 8 310 155 11 3
------------ ------------ --------- --------- --------- ---------
Hippolyte North 9 4 224 112 4 1
------------ ------------ --------- --------- --------- ---------
Hippolyte South 15 7 186 93 6 2
------------ ------------ --------- --------- --------- ---------
Lazare North 6 3 228 114 3 1
------------ ------------ --------- --------- --------- ---------
Lazare South 2 1 228 114 1 0
------------ ------------ --------- --------- --------- ---------
Sadi 7 3 206 103 3 1
------------ ------------ --------- --------- --------- ---------
Total and averages 60 30 240 120 32 8
------------ ------------ --------- --------- --------- ---------
Table 4 - Exploration Target - Range of tonnage, grade and
average Mlbs U O /km (2)
All Exploration Targets are grouped into five different
categories reflecting the quality of the target, ranging from those
on high radiometric anomalies to low anomalies that may be affected
by sand cover.
In calculating the potential size of the Exploration Target, a
probability of success was then estimated for each Target Category
to determine each target's upper bound of possible U(3) O(8) . By
way of example, high-quality targets on high radiometric anomalies
were given a 0.9 chance of success. In comparison, conceptual
Targets such as possible mineralisation beneath cover were given a
0.1 chance of success.
In this manner, high-quality targets were given the most
significant influence on Target tonnage, while conceptual Targets
were given minor influence. To be very conservative, the estimated
probabilities of success were then halved to determine Target's
lower tonnage and grade ranges. These categories are presented in
Appendix 1, along with the upper bounds of estimated probabilities
used to calculate Target ranges.
An example of the categorisation of Exploration Targets for the
Hippolyte West and Marie mineralised zones can be seen in Figure 2
. This shows the relationship between the current Inferred Resource
and the ranked Exploration Target areas. As demonstrated, the
higher probability targets are on or directly adjacent to areas
with high radiometric anomaly, which host mineralisation. Lower
ranked targets cover areas of lower radiometric signature and where
cover by sand dunes may have depressed the radiometric
signature.
Figure 2 - Marie E-H, showing airborne U-radiometric anomalies,
sand dunes, target categories, inferred resource outlines, and
planned drillholes. Note that drilling has not been closed off, and
portions of the high radiometric anomaly still need to be
sufficiently tested.
The distribution of exploration targets for other mineralised
zones within the Tiris East areas can be seen in Figures 5 to 14 in
Appendix 2.
The development of Targets within currently held Leases has the
benefit of providing tonnage close to presently planned operations,
increasing the likelihood of mine life extension without having to
modify the existing mining plan significantly. Additionally, the
potential to develop higher-grade material in the Marie/Hippolyte
West area (shown in Table 1) would substantially benefit
profitability by adding higher-grade feed close to the treatment
facility.
Exploration Program Plan
The Company proposes to commence an exploration program at Tiris
East to test the Exploration Targets as soon as possible. A
drilling contractor has been selected, and the logistics planned
around mobilising the air core rig into the country and to the
Tiris East area. This will aim to rapidly complete 15,500m of air
core drilling to grow the Resources within the Tiris East
exploitation permits. Drilling at Tiris East will be to a depth of
between 1 and 20 metres, with an average depth of 7 metres. Figures
5 to 15 in Appendix 2 show the proposed drilling plan for each
mineralised area.
The efficiency of exploration in the Tiris East project area is
significantly increased because of the level of data available on
existing mineral resources. Drilling calcrete-hosted uranium
mineralisation is undertaken by aircore drilling, with downhole
gamma logging used to measure equivalent U(3) O(8) (eU(3) O(8) ).
This output is converted to U(3) O(8) by calibration with assay and
disequilibrium analysis, for which samples must be generated from
diamond drilling. For a complete description, refer to ASX
announcement: "Major Resource Upgrade at Aura Energy's Tiris
Project" on 14(th) February 2023.
A detailed review has determined that sufficient disequilibrium
data is available in the Tiris East area for inferred resource
reporting. This will reduce the time required to report resources
by approximately four months, streamlining the exploration
process.
The aircore drilling program in Tiris East is expected to be
completed within two months of the commencement of drilling, with
an updated Mineral Resource Estimate to be completed shortly after
the completion of the drilling program.
The Company will take the opportunity to commence
pre-construction works for the Project during the exploration
program. The activities will focus on trial mining to optimise
mining costs and additional geotechnical studies.
Tenement Status
The Targets fall on mineral exploration permits held 100% by
Aura Energy: 2365B4 Oued EL Foule Sud, and on 2 Exploitation
permits: 2492C4 Oued El Foule, 2491C4 Ain Sder held by Tiris
Ressources SA. Oum Ferkik is currently under application for
transfer from an Exploration Permit to an Exploitation Permit.
Tiris Ressources SA is owned 85% by Aura Energy subsidiary, Aura
Energy Mauritania, and 15% by ANARPAM, a Mauritanian Government
entity.
S
The Board of Aura Energy Ltd has approved this announcement.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
For further information, please contact:
David Woodall Paul Ryan
Managing Director and CEO Citadel-MAGNUS
Aura Energy Limited Investor & Media Relations
info@auraenergy.com.au pryan@citadelmagnus.com
+61 409 296 511
SP Angel Corporate Finance WH Ireland Limited
LLP (Joint Broker)
(Nominated Advisor and Joint James Bavister
Broker) Andrew de Andrade
David Hignell +44 (0) 207 220 1666
Kasia Brzozowska
+44 (0) 203 470 0470
----------------------------
About Aura Energy (ASX: AEE, AIM: AURA)
Aura Energy is an Australian-based minerals company with major
uranium and battery metals projects with significant resources in
Africa and Europe. The Company primarily focuses on uranium
production from the Tiris Project, a significant greenfield uranium
discovery in Mauritania.
A recent Enhanced Feasibility Study at Tiris has increased the
project NPV significantly, reconfirming the project as one of the
lowest capex, lowest operating cost uranium projects that remain
undeveloped worldwide.
A Scoping Study into the Häggån Battery Metals Project in Sweden
has outlined compelling economic value. Aura plans to follow up
this study with further exploration to lift the Resource
categorisation alongside close collaboration with the community
surrounding the project to foster support to proceed.
In 2023, Aura will continue transitioning from a uranium
explorer to a uranium producer to capitalise on the rapidly growing
demand for nuclear power as the world shifts towards a decarbonised
energy sector.
Disclaimer Regarding Forward-Looking Statements
This ASX announcement (Announcement) contains various
forward-looking statements. All statements other than statements of
historical fact are forward-looking statements. Forward-looking
statements are inherently subject to uncertainties in that they may
be affected by various known and unknown risks, variables and
factors which could cause actual values or results, performance, or
achievements to differ materially from the expectations described
in such forward-looking statements. The Company does not guarantee
that the anticipated results, performance, or achievements
expressed or implied in those forward-looking statements will be
achieved.
Competent Persons
The Competent Person for Exploration Target Estimation is Dr
Michael Fletcher. The information in the report to which this
statement is attached relates to compiling Exploration Target data
and is based on information compiled by Dr Michael Fletcher. Dr
Fletcher has sufficient relevant experience in the preparation and
compilation of exploration data across a broad range of deposits 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'. Dr Fletcher is a consultant to Aura
Energy, and a full-time employee of GeoEndeavours Pty Ltd. Dr
Fletcher is a Member of the Australasian Institute of Geoscientists
and consents to the inclusion in the report of the matters based on
his information in the form and context in which it appears.
The Tiris Uranium Resource Estimate was reported in 2023 under
the 2012 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". The
Mineral Resource Estimate was detailed in ASX announcement: "Major
Resource Upgrade at Aura Energy's Tiris Project" 14th February
2023. Aura confirms that it is not aware of any new information or
data that materially affects the information included in this
announcement regarding the mineral resources and that all material
assumptions and technical parameters underpinning the estimates
continue to apply and have not materially changed.
Appendix 1 - Basis of Exploration Target
Mlbs U O target
---------------- ------ ---------- ---------------- --------------- ---------------
Category Rank Raw Mlbs Probability of Upper range Lower range Drill metres Probability
success to assess inputs
Target
------ ---------- ---------------- ------------ ------------ --------------- ---------------
10 ppm anomaly 1a 14.8 0.9 13.3 3.3 4,256 94% of
anomalies on
currently held
leases have
returned
extremely
positive
drilling
results,
and the
remaining six
percent
require
further
testing (the
remaining six
percent are in
the
next
category).
------ ---------- ---------------- ------------ ------------ --------------- ---------------
10 ppm anomaly, 1b 1.3 0.6 0.8 0. 2 756 Large
low values anomalies
tested by just
a few
drillholes
have returned
subgrade
values but
demonstrate
a mineralised
zone.
------ ---------- ---------------- ------------ ------------ --------------- ---------------
Step-out 1c 38.8 0.6 23.3 5.8 9,744 Areas where
drilling has
not been
closed off
within a few
hundred metres
of current
resources
or surrounding
non-tested
high
radiometric
anomalies.
------ ---------- ---------------- ------------ ------------ --------------- ---------------
Dune Adjacent, 1d 7.2 0.2 1.4 0. 4 763 Lazare North
low anomaly shows a large
resource
exists, with
no major
anomaly
present.
Adjacent to
sand
dunes, so
probable sand
cover subduing
anomaly. Given
low
probability
due to the
unknown level
of sand cover.
Positive
results from
wide-spaced
drill test
will raise the
probability.
------ ---------- ---------------- ------------ ------------ --------------- ---------------
Cover 2a 7.9 0.1 0.8 0. 2 217 Satellite
imagery shows
a difference
in surface
cover that may
limit the
anomaly,
masking
the
radiometric
signature.
Wide-spaced
drilling is
required to
test whether
this hides an
anomaly or is
simply a
different rock
type that is
not
mineralised.
------ ---------- ---------------- ------------ ------------ --------------- ---------------
Low 2b 19.8 0.1 2.0 0 .5 1,323 Satellite
imagery shows
sand cover.
Radiometric
and satellite
imagery at
different
acquisition
times, so not
a direct
comparison.
This low
-level sand
cover may
move, so
unsure if this
is a factor.
Limited
wide-spaced
drilling will
test this and
potentially
identify
large-volume
targets.
------ ---------- ---------------- ------------ ------------ --------------- ---------------
No anomaly 2c 0.3 0.1 0.0 0.0 84 No anomaly but
possible cover
identified in
satellite
imagery
------ ---------- ---------------- ------------ ------------ --------------- ---------------
Tiris East Total 32 8
------------
Table 7 - Ranking matrix for Exploration Targets based on
radiometric signature and proximity to existing mineralisation.
[7]
Appendix 2 - Maps showing Target category locations in relation
to radiometric anomalies, Resource boundaries and Satellite
imagery.
Figure 3 . Target Locations: Tiris East.
Figure 4 . Lazare North, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes. Note that the western portion of
the inferred resource is on low radiometric anomaly adjacent to a
sand dune. Sand may be obscuring the radiometric signature.
Drilling has not been closed off. Especially note the large section
of high radiometric anomaly that adjoins the Resource and has only
two drillholes.
Figure 6 . Lazare South, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes.
Figure 7 . Sadi, showing airborne U-radiometric anomalies, sand
dunes, target categories, inferred resource outlines, and planned
drillholes. Most of the drilling has not been closed off.
Figure 8 . Marie F-G, showing airborne U-radiometric anomalies,
sand dunes, target categories, inferred resource outlines, and
planned drillholes. Drilling has not been closed off, and high
anomaly has not been sufficiently tested.
Figure 9 . Marie E-H, showing airborne U-radiometric anomalies,
sand dunes, target categories, inferred resource outlines, and
planned drillholes. Anomalies (need field confirmation) lie to the
east of an elevated feature and appear to have sand cover that may
be shedding from that elevated feature. Drilling has not been
closed off.
Figure 10 . Hippolyte West C, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes. Note that drilling has not been
closed off, and solid drill results exist outside the resource.
Figure 11 . Hippolyte West D, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes. No previous drilling exists on
this Target.
Figure 12 . Hippolyte North, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes. Note the presence of sand dunes,
so part of the radiometric anomaly may be obscured. Also, note
drilling that has not been closed off.
Figure 13 . Hippolyte East, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes.
Figure 14 . Hippolyte South, showing airborne U-radiometric
anomalies, sand dunes, target categories, inferred resource
outlines, and planned drillholes. Note resources are open, and
drilling has not been closed off.
[1] See announcement dated 29 March 2023 "Tiris Uranium Project
Enhanced Definitive Feasibility Study".
[2] Ain Sder, OEFE and OEFE Sud tenements - Hippolyte East,
Hippolyte West, Marie, Hippolyte North, Lazare North, Lazare South
and Sadi resource areas.
[3] The lower range metal target has a 50% discount on both
tonnage and grade
[4] ASX Announcement: "Major Resource Upgrade at Aura Energy's
Tiris Project" 14th February 2023
[5] ASX announcement: "Major Resource Upgrade at Aura Energy's
Tiris Project" 14th February 2023
[6] ASX announcement: "Major Resource Upgrade at Aura Energy's
Tiris Project" 14 th February 2023
[7] Note that lower range metal target has a 50% discount on
both tonnage and grade
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