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Metals X Announces Nifty Ore Reserve Increased by 55%

12 Oct 2017  |  13:00:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Nifty Ore Reserve Increased by 55%

Metals X announced the updated Mineral Resource and Ore Reserve estimates for its Nifty Copper Operations. The updated resource and reserve estimates incorporate the results of the previously announced 20,000 meters of underground drilling completed during the first half of 2017. The Company advised of a 55% increase in contained copper in Ore Reserves at the Nifty underground mine, representing an additional 84,000t of copper above the Ore Reserve estimate released in May 2017. The Restated total Nifty Sulphide Measured, Indicated and Inferred Resource (cut-off 0.75% Cu) of 41.58 Mt at 1.50% Cu for 622,000t of contained copper. The conversion of Measured and Indicated Resources to Ore Reserve remains conservative at 45%.

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