Cape Lambert_Positive Marampa Results_063011
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Cape Lambert Resources Limited ABN 71 095 047 920 Corporate - 18 Oxford Close, Leederville WA 6007 Projects - Level 1, 2 Ord Street, West Perth WA 6005 United Kingdom - 14 Golden Square, London W1F 9JG ASX Announcement 30 June 2011 Cape Lambert is an Australian domiciled, mineral investment company. Its current investment portfolio is geographically diverse and consists of mineral assets and interests in mining and exploration companies. The Company continues to focus on investment in early stage resource projects and companies, primarily in iron ore, copper and gold. Its “hands on” approach is geared to add value and position assets for development and/or sale. The Board and management exhibit a strong track record of delivering shareholder value. Australian Securities Exchange Code: CFE Ordinary shares 626,299,603 Unlisted Options 7,850,000 ($0.45 exp 30 Sep 2011) Board of Directors Tony Sage Executive Chairman Tim Turner Non-executive Director Brian Maher Non-executive Director Ross Levin Non-executive Director Claire Tolcon Company Secretary Key Projects and Interests Marampa Iron Ore Project Pinnacle Group Assets Sappes Gold Project African Iron Limited International Goldfields Limited Cape Lambert Contact Tony Sage Executive Chairman Eloise von Puttkammer Investor Relations Phone: +61 8 93 80 9555 Email: [email protected] Australian Enquiries Professional Public Relations David Tasker Phone: +61 8 93 88 0944 Mobile: +61 433 112 936 Email: [email protected] UK Enquiries Tavistock Communications Emily Fenton / Jos Simson Phone: +44 (0)207 920 3150 Mobile: +44 (0)7899 870 450 www.capelam.com.au POSITIVE RESULTS FROM MARAMPA METALLURGICAL PROGRAM Key Points: Follow on Marampa metallurgical test work program in progress, aimed at amongst other things, reducing processing costs. Metallurgical test program is being supervised by independent, engineering group, Bateman Engineering Pty Ltd. Modelling by JK Tech Pty Ltd indicates a reduction of up to 75% of grinding power by adopting conventional crushing and screening, and ball milling. Iron recovery to concentrate increased to 93-94% (compares to 84- 85% in Scoping Study), whilst maintaining high mass recoveries (42-46%) and concentrate iron grades (63-65% Fe). The improved mass and iron recoveries and decreased grinding power will translate into lower concentrate production costs. Release of Marampa resource update scheduled for the first week of July whilst the independent geological consultant finalises the resource estimate. Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) (“Cape Lambert” or the “Company”) is pleased to update the market on improved metallurgical test results from its 100% owned Marampa Iron Ore Project located in Sierra Leone, West Africa (“Marampa Project” or “Marampa”) (refer Figure 1). On 18 March 2011, the Company announced the results of the Marampa Scoping Study (“Scopi ng Study ”). The Scopin g Study w as prepared by indep endent engineerin g group, Bateman Engineering Pty Ltd (“Bateman”) . Since the completion of the Scoping Study, Bateman has continued to manage a follow on metallurgical test work program, which amongst other t hings is aimed at reducing power requirements and optimising concentrate iron grade and recovery. Test results to-date indicate that grinding power requirements are likely to be 75% less than assumed in the Scoping Study. This will result in a reduction in processing oper ating costs. Comminution modellin g carried out by JK Tech Pty Ltd on the primary ore types suggests that optimally, the crushing and grinding circuit should consist of a typical three stage crushing and screening plant, which will feed smaller ball mills instead of larger and higher power consuming SAG mills, as assumed in the Scoping Study. In addition, samples of the higher grade primary ore, which are representative of each of the Matukia and Gafal West deposits have been subject to wet, high intensity magnetic separation (WHIMS) “Locked Cycle Testing” in accordance with the process f lowsheet develop ed in the Scoping Study (“LCT Testing”).
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Transcript of Cape Lambert_Positive Marampa Results_063011
8/6/2019 Cape Lambert_Positive Marampa Results_063011
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Cape Lambert Resources Limited ABN 71 095 047 920
Corporate - 18 Oxford Close, Leederville WA 6007 Projects - Level 1, 2 Ord Street, West Perth WA 6005
United Kingdom - 14 Golden Square, London W1F 9JG
ASX Announcement 30 June 2011
Cape Lambert is an Australiandomiciled, mineral investmentcompany. Its current investmentportfolio is geographically diverseand consists of mineral assets andinterests in mining and explorationcompanies.
The Company continues to focus oninvestment in early stage resourceprojects and companies, primarily iniron ore, copper and gold. Its “handson” approach is geared to add valueand position assets for developmentand/or sale.
The Board and management exhibita strong track record of deliveringshareholder value. Australian Securities Exchange Code: CFE
Ordinary shares626,299,603
Unlisted Options7,850,000 ($0.45 exp 30 Sep 2011)
Board of Directors
Tony Sage Executive ChairmanTim Turner Non-executive DirectorBrian Maher Non-executive DirectorRoss Levin Non-executive Director
Claire TolconCompany Secretary
Key Projects and Interests
Marampa Iron Ore ProjectPinnacle Group AssetsSappes Gold ProjectAfrican Iron LimitedInternational Goldfields Limited
Cape Lambert Contact
Tony SageExecutive Chairman
Eloise von PuttkammerInvestor Relations
Phone: +61 8 9380 9555Email: [email protected]
Australian Enquiries
Professional Public RelationsDavid TaskerPhone: +61 8 9388 0944Mobile: +61 433 112 936Email: [email protected]
UK Enquiries
Tavistock Communications
Emily Fenton / Jos SimsonPhone: +44 (0)207 920 3150Mobile: +44 (0)7899 870 450
www.capelam.com.au
POSITIVE RESULTS FROM MARAMPAMETALLURGICAL PROGRAM
Key Points:
Follow on Marampa metallurgical test work program in progress,aimed at amongst other things, reducing processing costs.
Metallurgical test program is being supervised by independent,engineering group, Bateman Engineering Pty Ltd.
Modelling by JK Tech Pty Ltd indicates a reduction of up to 75% ofgrinding power by adopting conventional crushing and screening,and ball milling.
Iron recovery to concentrate increased to 93-94% (compares to 84-
85% in Scoping Study), whilst maintaining high mass recoveries(42-46%) and concentrate iron grades (63-65% Fe).
The improved mass and iron recoveries and decreased grindingpower will translate into lower concentrate production costs.
Release of Marampa resource update scheduled for the first weekof July whilst the independent geological consultant finalises theresource estimate.
Australian resources and investment company, Cape Lambert Resources Limited(ASX: CFE) (“Cape Lambert” or the “Company”) is pleased to update the marketon improved metallurgical test results from its 100% owned Marampa Iron OreProject located in Sierra Leone, West Africa (“Marampa Project” or “Marampa”)
(refer Figure 1).
On 18 March 2011, the Company announced the results of the Marampa ScopingStudy (“Scoping Study”). The Scoping Study was prepared by independentengineering group, Bateman Engineering Pty Ltd (“Bateman”).
Since the completion of the Scoping Study, Bateman has continued to manage afollow on metallurgical test work program, which amongst other things is aimed atreducing power requirements and optimising concentrate iron grade andrecovery.
Test results to-date indicate that grinding power requirements are likely to be 75%less than assumed in the Scoping Study. This will result in a reduction inprocessing operating costs. Comminution modelling carried out by JK Tech PtyLtd on the primary ore types suggests that optimally, the crushing and grindingcircuit should consist of a typical three stage crushing and screening plant, whichwill feed smaller ball mills instead of larger and higher power consuming SAGmills, as assumed in the Scoping Study.
In addition, samples of the higher grade primary ore, which are representative ofeach of the Matukia and Gafal West deposits have been subject to wet, highintensity magnetic separation (WHIMS) “Locked Cycle Testing” in accordancewith the process flowsheet developed in the Scoping Study (“LCT Testing”).
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Cape Lambert Resources Limited
ASX: CFE Page 2 of 3
ASX Announcement 30 June 2011
LCT Testing of Matukia and Gafal West ore has confirmed that iron recoveries exceeding 90% are achievablewhilst maintaining a concentrate iron grade of 63-65% Fe.
Table 1 summarises the results of the LCT Testing.
Table 1 - LCT Results
DepositFeed %
Fe
Concentrate Grade MassRecovery
%
IronRecovery
%% Fe % SiO2 % Al2O3 % S % P
Matukia 31.9 64.7 3.2 1.0 0.000 0.012 46 94
Gafal West 28.3 62.9 4.7 1.4 0.001 0.011 42 93
Marampa Resource Update
On 10 June 2011, the Company advised that it expected to be in a position to release the Marampa resource
estimate by the end of June 2011. Finalisation of the resource estimate by the independent geologicalconsultant has taken longer than anticipated, and the updated Marampa resource estimate is now expected tobe released in the first week of July.
Yours faithfullyCape Lambert Resources Limited
Tony SageExecutive Chairman
The contents of this announcement relating to metallurgical test work is based on information compiled by Mr Tony Boucher, aMember of the Australasian Institute of Mining and Metallurgy. Mr Boucher is a consultant to Cape Lambert Resources Limited andhas sufficient experience relevant to the styles of mineralisation and the deposit under consideration and to the activity he isundertaking to qualify as a Competent Person, as defined in the 2004 edition of the “Aus tralasian Code for Reporting of ExplorationResults, Mineral Resources and Ore Reserves”. Mr Boucher consents to the inclusion in this announcement of the matters compiledby him in the form and context in which they appear.
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Cape Lambert Resources Limited
ASX: CFE Page 3 of 3
ASX Announcement 30 June 2011
