Based upon a process of ongoing technical review undertaken by site geologists since the previous estimate was undertaken by Paladin (re-stated by Lotus on 24 June 2019), an updated Mineral resource was announced on 25 March 2020. The updated resources represents a 31% increase on the reported global metal content to the previous Mineral Resources stated by the company in June 2019 , and now totals 27.1Mt @ 630 ppm U3O8 for 37.5Mlb of contained U3O8 ( refer Table 1 and Figure 1).
The estimate utilised the same methodology as the previous Mineral Resource estimate with modelling of individual arkose units within the deposit and also included a previously unmodelled lower arkose unit. The Mineral Resource update also incorporates mining and processing depletion. The March 2020 Mineral Resource update (Table 1) was reported in accordance with the JORC Code (2012).
The March 2020 Mineral Resource is summarised in Table 1 below with 11% (by metal content) classified as Measured, 72% classified as Indicated and 17% classified as Inferred. The in-situ Mineral Resources were estimated at several cut-off grades using Multiple Indicator Kriging with block support correction. The primary model panel dimensions are 20mE x 20mN x 2mRL. The estimates assume that final grade control sampling at approximately 3.5mE x 3.2mN x 1mRL spacing will be available prior to final mining and a selective mining unit of approximately 3mE x 3mN x 2mRL. Stockpile values were taken from surveyed stockpiles with average grades based upon grade control tracking.
|Table 1: Kayelekera Updated Mineral Resource – March 20201
Reported above a 300ppm U3O8 lower cut-off for in-situ material; and a 200ppm U3O8 lower cut-off for the low-grade stockpiles
||Grade (U3O8 ppm)
||U3O8 (M kg)
||U3O8 (M Lb)
|Measured – RoM Stockpile1
|Inferred – LG Stockpile2
|Total All Material
|1 RoM stockpile has been mined and located near mill facility.
Low-grade material was mined and placed on the low-grade stockpile and are considered potentially feasible for blending or beneficiation, with studies planned to further assess this optionality.
Figures have been rounded. Grade has been determined from a combination of XRF and downhole logging derived eU3O8 grades. In-situ Mineral Resources are depleted for mining to 31 December 2013 when mining ceased; Stockpiles have been depleted to the end of processing in June 2014. Metal contents are based on contained metal in the ground and take no account of mining or metallurgical recoveries, mining dilution or other economic parameters. An in-situ bulk density of 2.29g/cm3 was applied for Arkose material and 2.20g/cm3 for mudstone material to all blocks within the model