Page 19 - Sundance Resources 2014 Annual Report
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SUNDANCE RESOURCES LIMITED
ANNUAL REPORT 2014
17
High Grade Hematite Ore
Reserves
(Ore Products)
Reserve
Classification
Tonnes
(Mt)
Fe
(%)
SiO
2
(%)
AI
2
O
3
(%)
P
(%)
LOI
(%)
Mbarga and Mbarga South – ‘The Cameroon Pits’
DSO Product
Probable
83.9
63.6
4.6
2.3
0.079
1.71
Transition Upgraded Product
Probable
43.05
62.99
8.04
1.18
0.053
1.27
Total Mbarga and Mbarga
South Product
Probable
126.95
63.41
5.77
1.92
0.071
1.56
Nabeba, Nabeba Northwest and Nabeba South – ‘The Congo Pits’
DSO Product
Probable
249.7
62.76
3.26
2.97
0.096
3.11
Sub-Grade and Transition
Upgraded Product
Probable
59.6
60.13
6.47
2.08
0.082
3.95
Total Nabeba, Nabeba
Northwest and Nabeba South
Product
Probable
309.3
62.25
3.88
2.8
0.094
3.27
Total Ore Reserves
Probable
436.3
62.6
4.43
2.55
0.087
2.78
High Grade Hematite
Resources
Tonnes
(Mt)
Fe
(%)
SiO
2
(%)
AI
2
O
3
(%)
P
(%)
LOI
(%)
Indicated
748.0
57.2
9.2
4.4
0.098
3.8
Inferred
27.4
57.4
15.1
3.0
0.090
1.5
Total High Grade Resource
775.4
57.2
9.4
4.3
0.098
3.8
Further breakdown of the 775.4 Mt of High Grade Hematite Resources into Indicated and Inferred Resources for each of the six
Deposits is detailed below.
Indicated High Grade
Hematite Resources
Tonnes
(Mt)
Fe
(%)
SiO
2
(%)
AI
2
O
3
(%)
P
(%)
LOI
(%)
Mbarga Deposit
195.1
56.7
13.0
3.3
0.081
2.1
South Mbarga Deposit
20.7
57.5
10.4
3.6
0.068
3.2
Nabeba Main Deposit
472.0
57.9
7.6
4.7
0.107
4.1
Nabeba Northwest Deposit
50.3
52.8
9.2
5.6
0.090
7.9
Nabeba South Deposit
9.9
57.3
6.6
3.8
0.121
6.6
Total Indicated High Grade
Resource
748.0
57.2
9.2
4.4
0.098
3.8
Inferred High Grade
Hematite Resources
Tonnes
(Mt)
Fe
(%)
SiO
2
(%)
AI
2
O
3
(%)
P
(%)
LOI
(%)
Mbarga Deposit
12.2
54.7
18.2
1.8
0.104
0.9
Metzimevin Deposit
15.2
59.5
12.6
4.1
0.078
2.0
Total Inferred High Grade
Resource
27.4
57.4
15.1
3.0
0.090
1.5
The Iron Ore Reserves that will be derived from the Cameroon pits (Mbarga and Mbarga South) have favorable alumina grades but
higher silica contaminant values. Conversely, the Congo pits (Nabeba Main, Nabeba Northwest and Nabeba South) will have favorable
low silica grades but elevated alumina.
The ore bodies either side of the border will be optimised and blended to produce the maximum tonnage and value while still meeting a
highly marketable and desirable product grade specification of 62.6% Fe, with low contaminant levels of silica and alumina.
High Grade Hematite Mineral Resources
The High Grade Hematite Mineral Resource for the Project is currently 775.4 Mt grading 57.2% Fe.
This is inclusive of the 436.3 Mt of High Grade Hematite Reserves.
The High Grade Hematite Resources remain unchanged from the 2013 annual report and are comprised of 748.0 Mt of Resources
within the Indicated category. It is only from this Indicated portion of the Resources that the 436.3 Mt of High Grade Hematite Ore
Reserves were estimated.
