PDA

View Full Version : Lynas upgrades Mt Weld resource +++


Sparty
01-18-2012, 01:46 AM
Today's news of Lynas Corp's large upgrade of its resources is both welcome and expected.

Increase in Mt Weld Resource Estimate for the Central Lanthanide Deposit and Duncan Deposit (http://www.vision6.com.au/ch/22416/2dvdyhm/1569654/356f3w1hm.pdf) (pdf download)

Highlights


The Mineral Resource estimate for Mount Weld is now 23.9 million tonnes, at an average grade of 7.9% REO, for a total of 1.9 million tonnes REO. This represents a 37% increase versus the previous Resource estimate announced in September 2010 and a 34% increase in contained REO. This Resource is comprised of the Central Lanthanide Deposit and the Duncan Deposit.



The Resource estimate for the Central Lanthanide Deposit has increased by 51% to 14.9 million tonnes, at an average grade of 9.8% REO, for a total of 1.5 million tonnes REO. This represents a 38% increase in contained REO.



The Resource estimate for the Duncan Deposit has increased by 18% to 9.0 million tonnes, at an average grade of 4.8% REO, for a total of 431,600 tonnes REO. This also represents an increase of 18% in contained REO.

Thus the world's richest REE deposit has gotten bigger and richer!

I hold LYC (http://www.australian-shares.com/mining/LYC).

Read about Australian Rare Earths at www.australianrareearths.com (http://www.australianrareearths.com)