Tungsten West plc published an increase in JORC (2012) compliant ore reserve estimate (ORE) and internal mineral resource estimate (MRE) at its Hemerdon tungsten and tin deposit in Devon.
ORE RESERVE ESTIMATE
The company reported a 60% increase in ore tonnage and 10% increase in contained metal from previous 2021 ORE.
Tungsten West said that the 2022 ore reserve is now 101.2Mt at 0.14% WO3 and 0.03% Sn.
The company added that the Hemerdon deposit was estimated to be the second largest reported CRIRSCO* standard tungsten reserve globally.
MINERAL RESERVE ESTIMATE
The new MRE showed a 7% increase in tonnage and 1% increase in contained metal from previous 2021 MRE.
The 2022 Hemerdon global mineral resource is 351.5Mt at 0.12% WO3 and 0.03% Sn (tin).
Tungsten West added that the deposit was now estimated to be the second largest reported CRIRSCO standard tungsten resource globally.
FEASIBILITY STUDY
“The increase in both the ore reserve and mineral resource at Hemerdon further highlights the world class nature of the deposit we have in Devon,” added executive vice-chairman Mark Thompson.
“The lift in both the ore reserve and mineral resource is a reflection on the work that has been undertaken this year as part of our cost saving initiative and improvement to operating efficiencies across the business.
“This will also be realised in our updated feasibility study, a summary of which we expect to release shortly.”
DRILLING PROGRAMMES
Mr Thompson added that the company’s exploration drilling programmes had been the first at the site in almost 30 years.
“These programmes had significant success in growing the mineral resources and we have complemented that with the development of an enhanced mineral beneficiation flowsheet and energy saving initiatives to reduce our processing costs.
“These initiatives, in turn, have had a positive impact of the ore reserves.
“We intend to continue to build on this world class asset and continue the trend of adding value through reserve and resource growth through future drilling campaigns as indicated by the scale of the proposed exploration target.”
*Committee for Mineral Reserves International Reporting Standards