DGAP-News: Deutsche Rohstoff AG: Devonian Metals nearly doubles resource estimate
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Deutsche Rohstoff AG: Devonian Metals nearly doubles resource estimate
21.06.2012 / 14:07
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Deutsche Rohstoff AG: Devonian Metals nearly doubles resource estimate
New NI 43-101 report published/continued exploration with Glencore
Heidelberg. Devonian Metals, based in New Westminster, Canada, reports an
update of the resource estimate for its Zinc/Lead/Silver Wrigley project in
the North-West Territories of Canada, based on the latest exploration
campaigns.
According to the independent estimate, Wrigley hosts an Indicated resource
of 728K tonnes grading 8.26% Zn, 2.11% Pb and 12.86/t Ag, plus an Inferred
resource of 3,978K tonnes grading 7.34% Zn, 2.02% Pb, and 12.71g/t Ag at a
4% combined zinc plus lead cutoff.
At a lower cutoff of 1% combined zinc plus lead, the Indicated resources
are 1,365K tonnes grading 5.20% Zn, 1.38% Pb, and 8.64g/t Ag, and an
Inferred resource of 8145K tonnes grading 4.51% Zn, 1.27% Pb, and 8.11g/t
Ag.
The 4% cutoff could represent a reasonable grade for underground mining,
while the 1% cutoff could be a reasonable grade for open pit mining.
Thomas Gutschlag, CFO of Deutsche Rohstoff AG, noted: 'Following the
drilling programs of 2010 and 2011, the latest resource estimate doubles
the tonnage of our Zinc/lead project. We are quite content with this result
and are looking forward to further advance the project together with our
partners from Glencore.'
Devonian entered into a farm-in agreement with Glencore in 2010. Over the
last two years, Glencore had financed approximately 8.300 meter of
drilling.
The independent expert recommends to carry out geochemical, geophysical and
metallurgical work as a next step. In addition, he advises that a
preliminary economic assessment should be undertaken, given the advanced
nature of the project.
Field work has already been initiated and will be completed by summer 2012.
The budget for this years program will be roughly CAD 1.5 million, still to
be paid from the farm-in funds.
Heidelberg, 21 June 2012
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil&gas and so called
high tech metals such as tin, tungsten, and rare earth metals. All projects
are located in countries marked by political stability, the core area being
Germany. The business concept is based on redeveloping deposits, which have
been well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Thomas Gutschlag
gutschlag(at)rohstoff.de
+49 6221 871 000
End of Corporate News
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