PRESS RELEASE
5 August 2016
CLARIFICATION: MINERAL RESOURCES AND RESERVES
Metals X Limited (ASX:MLX) (Metals X) released the following announcements:
Metals X would like to provide the following clarification regarding the Mineral Resources and Reserves disclosed in the announcements.
Gold Division - Mineral Resources & Ore Reserves - The information is extracted from the Metals X June 2016 Quarterly Report dated 29 July 2016 (ASX:MLX).
GOLD DIVISION
Mineral Resource Statement 30 June 2016
|
Category
|
k Tonnes
|
Grade
|
k Ounces Au
|
|
Measured
|
2,972
|
3.32
|
317
|
|
Indicated
|
130,135
|
2.20
|
9,216
|
|
Inferred
|
89,797
|
2.04
|
5,881
|
|
Total
|
222,904
|
2.15
|
15,414
|
Ore Reserve Statement 30 June 2016
|
Category
|
k Tonnes
|
Grade
|
k Ounces Au
|
|
Proven
|
1,145
|
3.02
|
111
|
|
Probable
|
36,918
|
2.34
|
2,782
|
|
Total
|
38,063
|
2.36
|
2,893
|
ASX Code: MLX
OTCQX Code: MLXEF
Level 3, 18-32 Parliament Place West Perth WA 6005
Australia
[email protected] www.metalsx.com.au
Tin Division - Mineral Resources & Ore Reserves - The information is extracted from the Annual Mineral Resource and Reserves Statement dated 25 August 2015 (ASX:MLX).
TIN DIVISION
Mineral Resource Statement 30 June 2015
|
Tin
|
Copper
|
|
Category
|
Tonnes kt
|
Grade % Sn
|
Sn Metal Kt
|
Tonnes kt
|
Grade % Sn
|
Sn Metal Kt
|
|
Measured
|
23,066
|
0.53
|
122
|
22,989
|
0.24
|
54
|
|
Indicated
|
9,234
|
1.34
|
124
|
7,746
|
0.31
|
24
|
|
Inferred
|
4,073
|
1.21
|
48
|
3,117
|
0.29
|
9
|
|
Total
|
36,382
|
0.81
|
294
|
33,852
|
0.26
|
87
|
Ore Reserve Statement 30 June 2015
|
Tin
|
Copper
|
|
Category
|
Tonnes kt
|
Grade % Sn
|
Sn Metal Kt
|
Tonnes kt
|
Grade % Sn
|
Sn Metal Kt
|
|
Proven
|
1,313
|
1.60
|
21
|
1,313
|
0.43
|
6
|
|
Probable
|
26,325
|
0.60
|
159
|
26,003
|
0.23
|
59
|
|
Total
|
27,638
|
0.65
|
180
|
27,316
|
0.24
|
64
|
Rover Base Metals Project - Mineral Resources & Ore Reserves - The information is extracted from the Metals X 2015 Annual Report dated 23 October 2015 (ASX:MLX).
TENNANT CREEK - ROVER POLYMETALLIC PROJECTS
Mineral Resource Statement 30 June 2015
|
Gold
|
Copper
|
Bismuth
|
Cobalt
|
|
Rover 1 Project
|
Kt
|
Grade
%
|
Metal Koz
|
Kt
|
Grade
%
|
Metal Kt
|
Kt
|
Grade
%
|
Metal Kt
|
Kt
|
Grade
%
|
Metal Kt
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
2,741
|
2.42
|
213
|
2,741
|
1.42
|
59
|
2,741
|
0.18
|
5
|
2,741
|
0.04
|
1
|
|
Inferred
|
4,073
|
1.27
|
168
|
4,073
|
1.06
|
52
|
4,073
|
0.11
|
4
|
4,073
|
0.08
|
3
|
|
Total
|
6,814
|
1.73
|
381
|
6,814
|
1.20
|
112
|
6,814
|
0.14
|
9
|
6,814
|
0.06
|
4
|
|
Zinc
|
Lead
|
Silver
|
|
Explorer 108 Project
|
Kt
|
Grade %
|
Metal Kt
|
Kt
|
Grade %
|
Metal Kt
|
Kt
|
Grade %
|
Metal Koz
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
8,438
|
3.41
|
287
|
8,438
|
2.05
|
172
|
8,438
|
14.3
|
3,879
|
|
Inferred
|
3,429
|
2.81
|
96
|
3,429
|
1.88
|
64
|
3,429
|
3.30
|
364
|
|
Total
|
11,868
|
3.24
|
384
|
11,868
|
2.00
|
237
|
11,868
|
11.14
|
4,243
|
|
CLARIFICATION: MINERAL RESOURCES AND RESERVES
|
2
|
|
PRESS RELEASE
|
|
Gold
|
Copper
|
|
Explorer 142 Project
|
Kt
|
Grade %
|
Metal Koz
|
Kt
|
Grade %
|
Metal Kt
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Inferred
|
176
|
0.21
|
1
|
176
|
5.21
|
9
|
|
Total
|
176
|
0.21
|
1
|
176
|
5.21
|
9
|
Nickel Division - Mineral Resources & Ore Reserves - The information is extracted from the Metals X 2015 Annual Report dated 23 October 2015 (ASX:MLX).
NICKEL DIVISION
Mineral Resource Statement 30 June 2015
|
Nickel
|
Cobalt
|
Fe2O3
|
|
Wingellina Project
|
Kt
|
Grade %
|
Metal Kt
|
Kt
|
Grade
%
|
Metal Kt
|
Kt
|
Grade %
|
Metal Kt
|
|
Measured
|
68,847
|
1.00
|
688
|
68,847
|
0.08
|
54
|
68,847
|
48.71
|
33,535
|
|
Indicated
|
98,623
|
0.97
|
957
|
98,623
|
0.08
|
74
|
98,623
|
46.39
|
45,751
|
|
Inferred
|
49,004
|
0.86
|
422
|
49,004
|
0.07
|
34
|
49,004
|
40.02
|
19,609
|
|
Total
|
216,474
|
0.95
|
2,067
|
216,474
|
0.07
|
161
|
216,474
|
45.68
|
98,896
|
Ore Reserve Statement 30 June 2015
|
Nickel
|
Cobalt
|
Fe2O3
|
|
Wingellina Project
|
Kt
|
Grade %
|
Metal Kt
|
Kt
|
Grade
%
|
Metal Kt
|
Kt
|
Grade %
|
Metal Kt
|
|
Proved
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Probable
|
167,470
|
0.98
|
1,645
|
167,470
|
0.08
|
128
|
167,470
|
47.34
|
79,287
|
|
Total
|
167,470
|
0.98
|
1,645
|
167,470
|
0.08
|
128
|
167,470
|
47.34
|
79,287
|
|
CLARIFICATION: MINERAL RESOURCES AND RESERVES
|
3
|
|
PRESS RELEASE
|
Nifty Copper Division - Mineral Resources & Ore Reserves - The information is extracted from the Aditya Birla Minerals Limited June 2016 Quarterly Report dated 27 July 2016 (ASX:ABY).
NIFTY COPPER
Mineral Resources Statement 30 June 2016
|
PROJECT
|
CUT-OFF
|
TONNES (MT)
|
% CU
|
|
Nifty Sulphides
|
1.2%
|
Measured
|
17.34
|
2.16%
|
|
1.2%
|
Indicated
|
3.29
|
1.80%
|
|
1.2%
|
Inferred
|
2.83
|
1.52%
|
|
Sub-total
|
23.46
|
2.03%
|
|
Nifty Oxides
|
0.4%
|
Measured
|
1.43
|
0.91%
|
|
0.4%
|
Indicated
|
1.22
|
0.86%
|
|
0.4%
|
Inferred
|
1.68
|
0.83%
|
|
Sub-total
|
4.33
|
0.86%
|
|
Nifty Heap Leach
|
0.5%
|
Measured
|
-
|
-%
|
|
0.5%
|
Indicated
|
2.85
|
0.75%
|
|
0.5%
|
Inferred
|
0.46
|
0.66%
|
|
Sub-total
|
3.31
|
0.74%
|
|
NIFTY GROUP
|
SUB-TOTAL
|
31.1
|
1.73%
|
|
Maroochydore Ox*
|
0.5%
|
Measured
|
-
|
-%
|
|
0.5%
|
Indicated
|
40.8
|
0.92%
|
|
0.5%
|
Inferred
|
2.4
|
0.81%
|
|
Sub-total
|
43.2
|
0.91%
|
|
Maroochydore Sulph*
|
1.1%
|
Measured
|
-
|
-%
|
|
1.1%
|
Indicated
|
-
|
-%
|
|
1.1%
|
Inferred
|
5.43
|
1.66%
|
|
Sub-total
|
5.43
|
1.66%
|
|
MAROOCHYDORE GROUP
|
SUB-TOTAL
|
48.63
|
1.00%
|
|
TOTAL
|
79.73
|
1.28%
|
In relation to all of the reports mentioned above, Metals X confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that allmaterialassumptionsandtechnicalparametersunderpinningtheestimatesintherelevantmarketannouncement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
In addition, Metals X advises that they withdraw the statement "Target Size 8-10 million tonnes" on slide 18 of the MLX Presentation Diggers & Dealers the statement.
4
CLARIFICATION: MINERAL RESOURCES AND RESERVES
PRESS RELEASE