Company News Summary
Syrah Resources Increases Balama Ore Reserves and Awards Laboratory Contract
Original announcement: SYR increases Balama Reserves and awards Laboratory Contract
Syrah Resources announced that it has finalised a Mineral Resource and Ore Reserve upgrade for the Mualia Zone, Balama West, which was completed in accordance with the guidelines of the JORC Code (2012). The Probable Ore Reserve estimated by The MSA Group is based on the optimised open pit mine plan for the Mualia Zone, whilst taking into consideration the same mine planning parameters used for the Balama East and West open pits in the Feasibility Study completed by Snowden Mining Industry Consultants in May 2015. The updated Proved and Probable Ore Reserve for the overall Balama Project totals 114.5 Mt at 16.6% TGC for 18.6 Mt of contained flake graphite. It has also awarded the contract for the supply of on-site laboratory services for the Balama Graphite Project in Mozambique to Bureau Veritas Mozambique.
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