PRESS RELEASE
15 DECEMBER 2014
MINERAL RESOURCES AND ORE RESERVES GOVERNANCE STATEMENT
ADDENDUM TO THE 2014 ANNUAL REPORT
Metals X Limited wishes to provide additional information to the Company's 2014 Annual
Report (page 123) in accordance with Listing Rule 5.21.5. 2014.
Governance of Metals X Limited's mineral resources and ore reserves development and management activities is a key responsibility of the Executive Management of the Company.
The Group Chief Geologist and Chief Mining Engineer of Metals X Limited oversee reviews and technical evaluations of the estimates and evaluate these with reference to actual physical and cost and performance measures. The evaluation process also draws upon internal skill sets in operational and project management, ore processing and commercial/financial areas of the business.
The Group Chief Geologist is responsible for monitoring the planning, prioritisation and progress of exploratory and resource definition drilling programs across the Company and the estimation and reporting of resources and reserves. These definition activities are conducted within a framework of quality assurance and quality control protocols covering aspects including drill hole siting, sample collection, sample preparation and analysis as well as sample and data security.
A three-level compliance process guides the control and assurance activities:
1. Provision of internal policies, standards, procedures and guidelines.
2. Resources and reserves reporting based on well-founded assumptions and compliance with external standards such as the Australasian Joint Ore Reserves Committee (JORC) Codes.
3. Internal assessment of compliance and data veracity.
The objectives of the estimation process are to promote the maximum conversion of identified mineralisation into JORC compliant Mineral Resources and Ore Reserves.
Metals X Limited reports its mineral resources and ore reserves on an annual basis, in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC code) 2004 Edition and the 2012 Edition.
Mineral resources are quoted inclusive of ore reserves. Competent Persons named by Metals X Limited are members of the Australasian Institute of Mining and Metallurgy and/or the Australian Institute of Geoscientists, and qualify as Competent Persons as defined in the JORC Code.
ENQUIRIES
Peter Cook Warren Hallam
Executive Director & CEO Executive Director
e: [email protected] e: [email protected]
Metals X Limited is a diversified group exploring and developing minerals
and metals in Australia. It is Australia's largest tin producer, a top 10 gold producer and holds a pipeline of assets from exploration to development including the world class Wingellina NIckel Project.
CORPORATE DIRECTORY
ASX Code: MLX
OTCQX Code: MTXXY
Level 3, 18-32 Parliament Place
West Perth WA 6005
Australia
PO Box 1959
West Perth WA 6872
Australia
t: +61 8 9220 5700 f: +61 8 9220 5757
[email protected] www.metalsx.com.au