AZR aztec resources limited

iron ore koolan isalnd

  1. 236 Posts.
    Document 6-234860-E dated 20-Mar-2003 Progress Report

    Part A (entered 25-Mar-2003 11:14 am)
    AZTEC RESOURCES LIMITED 2003-03-20 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Aztec Resources Limited commissioned Micromine Consulting to
    digitally capture the un-mined portion of the 1985 BHP geological
    resource block model for the Koolan Island Main Pit ore body. The
    data was sourced from eleven 12 metre flitch plans, showing the
    geological resource as modelled by BHP from the 38 metre level to 82
    metre level. The purpose was to determine the un-mined resource as
    modelled by BHP Minerals below the existing pit down to the -82 metre
    level.

    The un-mined resource with 60% iron cut off grade is as follows:

    7.5 Million tonnes @ 66.7% Fe, 3.3% SiO(2) and 0.6% Al(2)O(3)

    It is not possible to classify this resource according to the JORC
    Code as the methodologies, procedures and assumptions made by BHP
    when the model was generated are unknown. Micromine is validating the
    drilling data captured by Aztec and will use this, together with
    information contained in various BHP reports, to generate a JORC Code
    compliant resource model for the un-mined portion of the Main Pit ore
    body.

    The location of infrastructure on the hanging wall restricted BHP's
    access to the majority of the un-mined resource. BHP's own drilling
    confirms the Main Pit ore body continues down to at least the -170
    metre level.

    B R Matich
    MANAGING DIRECTOR

    Website: www.aztecresources.com.au
    Email: [email protected]

 
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