Mallee Resources Limited (“MYL” or “the Company”) is pleased to announce that independent consultants CSA Global Pty Ltd, an ERM Group Company, (“CSA Global”) have reported a Mineral Resource estimate in accordance with the JORC Code (2012 Edition) (“JORC Code”) in respect of the Avebury Project (defined below).
As announced on 11 March 2022, the deed of company arrangement (“DOCA”) for Allegiance Mining Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (“Allegiance”) has been executed.
The DOCA contemplates MYL (through a wholly owned subsidiary) acquiring Allegiance, which wholly owns the Avebury mining licences, exploration licences, the underground mine, processing plant, mine infrastructure and other associated assets (“Avebury Project”).
Mineral Resource estimation work in respect of the Avebury Project was carried out by MMG Limited (“MMG”) in 2011 and reported in accordance with the JORC Code in 2013. No drilling has been undertaken since.
CSA Global has reviewed the work undertaken by MMG, undertaken a review of (and amended) the classification approach, checked the Mineral Resource depletion, completed an assessment of reasonable prospects for eventual economic extraction (“RPEEE”), and re-reported the Mineral Resource in accordance with the JORC Code. The Mineral Resource estimate is shown in Table 1.
DATE: April 8, 2022
SOURCE: Mallee Resources Limited