TIR titan resources limited

re bio-heap.

  1. 321 Posts.
    From annual activities report.

    A large copper deposit has been identified by POT in the Xingjiang province of China containing
    approximately 8.5 million tonnes of oxide ore at 0.41% Cu plus 95 million tonnes of primary sulphide
    ore at 0.65% Cu. POT have signed a Memorandum of Understanding (MoU) with the owners of the
    property giving POT the first right of refusal to acquire 70% of the project subject to due diligence. By
    way of due diligence, it is POT’s intention to perform limited metallurgical testing on samples of both
    the oxide and the sulphide ores, and to enlist the services of a consultant geologist in order to satisfy
    itself of the viability of the project.
    Also in China a second MoU was signed with a major copper producer in the Gansu Province which
    outlines our combined intention to apply the BioHeap™ technology to the 250 million tonne, low grade
    copper stockpiles that are currently sitting at surface.
    A presentation on BioHeap™ was given to a group of Chinese investors made up largely of bankers and
    fund managers. The seminar was convened in order to lay the foundations for the formation of an
    investment fund which will be the first in China to be dedicated solely to the Chinese mining and
    resources industry. Strong interest in POT is being shown by this fund.
    Due to POT’s increased activity in China, it will be opening a representative office in Beijing in the near
    Sherlock Bay Nickel Corporation (SBNC)
    A conditional agreement has been reached with SBNC for the supply of BioHeap™ technology to their
    Sherlock Bay nickel mine in the Pilbara region of Western Australia. POT will be working closely with
    SBNC over the coming months to develop what will be the first commercialisation of the BioHeap™
    There is 230,000 tonnes of copper in surface stockpiles and 457,000 tonnes of copper in unmined
    low-grade ore at the Erdenet mine in Mongolia. The unmined ore can be delivered to a ROM pad at
    zero incremental cost because it must be mined alongside the high grade ore that the mine is currently
    processing. Initial BioHeap™ laboratory tests have been successful and Erdenet have now requested
    that further testing be undertaken at the mine site.
    POT are actively involved in several other projects that it is unable to report on at the present time due
    to client confidentiality. Included are large nickel and copper projects in Australia as well as gold,
    copper-gold and poly-metallic projects in Europe.
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