Forge Resources Ltd (ASX:FRG, "Forge") is pleased to announce a significant maiden JORC compliant heavy mineral (HM) resource estimate of 470 million tonnes @ 4.6% HM (21.5 million tonnes of contained HM) for the McLaren Heavy Mineral Sand Deposit within the Eulca West Mineral Sand Project tenements, located in the Eucla Basin, Western Australia.
Geological resource estimation specialists Hellman and Scholfield Pty Ltd have completed the resource estimate, which applies a 2.0% HM cutoff grade, a bulk density of 1.8, and is categorized as an Inferred Resource and reported according to the JORC Code and guidelines. This is an excellent result and has exceeded Company expectations of scale and grade. Significantly the data indicates that potential additions to the resource can be achieved with both infill and extensional drilling, which is scheduled for the March 2012 quarter.
A total of sixty composite drill samples from the McLaren Deposit have been submitted for detailed mineralogy to determine the mineral suite within the resource and enable geological domaining with consideration to particle size and mineral characterisation. Following this analysis, mineral quality analysis, bulk sample test work and a detailed assessment of the deposits full economic potential are anticipated.
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