Heavy Minerals talks garnet and updated Port Gregory resource

–News Direct–

Heavy Minerals Ltd (ASX:HVY) CEO Andrew Taplin discusses with Proactive an updated resource estimate for the companys flagship Port Gregory Garnet Project of 166 million tonnes at 4.0% THM at a 2.0% THM cut-off grade. He says work is set to commence on pit optimisation and mine planning to produce mining inventory to feed into the upcoming PFS for the project. Bulk sampling for potential offtakers is scheduled to start in the second half of this year.

Taplin said in the resource update statement: The company was confident that there would be a significant increase to the size and quality of the resource following the most recent infill and extension aircore drilling program with the company meeting all expectations.

The updated Mineral Resource estimate now credibly positions HVY to be the next potential garnet producer in the Port Gregory region. The updated Mineral Resource estimate will inform the Port Gregory Project Pre Feasibility Study that is scheduled to commence imminently and is expected to contribute further value to the already strong financial metrics. The company remains of the view that its Port Gregory Garnet Project is a world class asset.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/heavy-minerals-talks-garnet-and-updated-port-gregory-resource-482335904

Heavy Minerals Ltd

COMTEX_437050467/2655/2023-07-19T16:50:02