Shaw River commences drilling to increase resources at Otjozondu Manganese Project
Results to underpin Feasibility Study due for completion in December 2011 Quarter
Highlights
- 3,000 meter diamond drilling program commences at Shaw River's 75.5% owned Otjozondu ("Otjo") Manganese Project in Namibia.
- Two additional RC drill rigs and crews are planned to be on site within weeks to begin an aggressive resources extension drill program of over 7,000 meters.
- First results from the program are anticipated in July 2011. A resource upgrade is expected in September 2011. First production is targeted for June 2012.
- JORC Inferred Resources currently stand at 6.8Mt at 23% Mn and the Project Exploration Target of 35Mt to 50Mt grading 23%Mn to 27%Mn*.
- A feasibility study is underway with engineers GTI, an experienced international team with extensive African and Namibian project experience.
- Scoping study has indicated strong economics from an proposed initial 250,000tpa operation from 2012 targeting ramp-up to 500,000tpa, producing a high-grade, high-quality product using simple beneficiation methods. Manganese product grade estimated 38-40% Mn.
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