Caula Vanadium-Graphite Project Scoping Study Shows Exceptional Economics
Sydney, Oct 22, 2018 AEST (ABN Newswire) - New Energy Minerals Limited (
ASX:NXE) (GGY:FRA) is pleased to report the results of an independent Scoping Study completed by mining consultant group Bara International ("Bara") on the Company's 80% owned Caula Vanadium Graphite Project located in Mozambique.
Highlights
- The Study demonstrates the viability of an open pit vanadium and graphite mining operation with outstanding economics
- Mine life of 26 years based entirely on the JORC Measured Resources for both vanadium and graphite
- 1,877 metres of diamond drilling over 16 drillholes and 99 metres of RC drilling (1 drillhole) were completed by the Company for the Scoping Study
- Approximately 4,000 metres of additional drilling, sampling, assaying and further testwork underway (drilling and sampling completed) to support Reserve definition and pre-feasibility studies
- New Energy Minerals is now focused on delivering pre-feasibility level studies by Q1-2019 as well as the fast-tracked implementation of Phase 1 of the project targeting 1st cashflows in H2-2018
To view the full release, please visit:
http://abnnewswire.net/lnk/TPFKPVZ6
About New Energy Minerals Ltd
New Energy Minerals Ltd (ASX:NXE) (FRA:GGY) is an ASX listed junior mining company, that recently announced the divestment of the Company's Caula vanadium - graphite project and the Montepuez Ruby project in Mozambique.
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