Relentless Resources Limited is an emerging mineral sands company with projects in the Murray Basin, New South Wales, Australia.
Relentless Resources Limited is an emerging mineral sands growth company with prospective projects in the Murray and Wentworth Basin in NSW, Australia. The Company’s primary objective is to move its projects into production in the near term and pursue further exploration activities to discover new projects and expand the existing resources. The Company currently has 9 tenements and one exploration licence application (ELA), all which are 100% owned, and a team of mining, exploration and finance professionals, with an exemplary record of success.
The HMS Exploration Licences which are illustrated in the figure below:
Desktop studies relating to historical drilling have occurred with planning at various stages across most of the tenure. The majority of the drill programs were put on hold during 2017, due to the transfer of the Tenements to Relentless Resources. It is envisaged that future drilling programs will take place in 2019. In the Copi and Sunshine deposits (EL8312 and EL8385 respectively), BHM completed a campaign of resource drilling in early 2016 at the Copi North extension on EL8385. A smaller campaign of drilling was also conducted on the Sunshine deposit, shortly afterward. These campaigns confirmed the continuity of higher-grade mineralisation. As part of the on-going work, a bulk sample was collected from the drilling conducted in early 2016, and was sent for further mineral classification and initial processing test-work.
Two programs of exploration drilling have been approved to date across the Copi and Sunshine deposits, with a total of 110 holes for 3,000m of drilling planned. The proposed drilling will test for resource infilling, extensions to the above deposits, as well as to add valuable information to the existing Mineral Resources.
Air-core drilling was conducted on the Springwood deposit (EL8309) during early 2017. Thirty seven vertical air-core holes for 1,236m were drilled. Assays were conducted and a maiden Inferred Mineral Resource of 3.0Mt grading at 3.3% THM was delineated with ilmenite of 49%, zircon of 6.6% and rutile of 11%. Two further exploration targets are to be tested and planning has commenced on EL8309 to further assess these targets.
Historical drilling review conducted by Relentless Resources has also identified zones of mineralisation on the remaining Tenements, including but not limited to, potential extensions and new targets on the Magic deposit (EL8311), as well as the Budgeree deposit (EL8560) and the Woolcunda deposit (EL8648).
The Copi North and Sunshine, Sunshine extension, Copi South, Springwood and Magic deposits have delineated Mineral Resources and are reported by classification in the Table below. These have been categorised in accordance with the JORC Code and are reported above a cut-off grade of 2% total heavy minerals. In addition, the Mineral Resources for Magic and Springwood are reported below a slimes cut-off grade of content of 35%. The THM is reported as a percentage of the total material and the mineral assemblage components (zircon, rutile, leucoxene and ilmenite) are reported as a percentage of the THM.
Mineral Resources Summary - December 05, 2018
Mineral Resources as at October 2018 reported by cation above a cut-off of 2% total heavy minerals.
|Deposit||Classification||Million tonnes||THM %||Slimes %||Oversize %||Ilmenite %HM||Rutile %HM||Zircon %HM||Leucoxene %HM|
|Copi North and Sunshine*||Indicated||13.6||5.6||2.7||2.4||54||11||11||10|
|Copi North and Sunshine*||Inferred||3.6||6.3||2.8||1.7||54||11||11||10|
|Springwood # &||Inferred||3.0||3.3||18.3||1.0||49||6.6||11||7|
- Slimes is 1 mm.
- Total heavy mineral (HM) is reported as a percentage of the total material and has been estimated from assays of the -710 µm +75µm and the -1mm+53µm fraction.
- # - At a cut-off of 2.0% HM and below a cut-off of 35% slimes.
- * - At a cut-off of 2.0% HM.
- & - For Springwood the estimates of mineral assemblage are presented as percentages of the HM component of the deposit, as determined by grain counting.
- Open pit mining methods are considered to provide reasonable prospects for eventual economic extraction.
- There are no metallurgical factors which are likely to significantly affect the assumption that the deposit has reasonable prospects for eventual economic extraction.
- Initial metallurgical test work has been completed for Copi North and Sunshine.
- Mineral characterisation and test work is proposed for Springwood.
- Ms Christine Standing is a competent person in respect of the Mineral Resources estimations for Springwood in EL8309, Sunshine Extension and Copi South in EL8312, and Sunshine in EL8385. Ms Sue Border is a competent person in respect of Mineral Resource estimations for Copi North and Sunshine in EL8312, and Sunshine in EL8385. Mr Greg Jones is a competent person in respect of the Mineral Resource estimations for Magic in EL8311.
No Ore Reserves, as defined by the JORC Code, have been declared at any of the HMS Projects or on any Tenement held by Relentless Resources at this point in time.