Corporate | 8 October 2012 08:30
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Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Tin International publishes extended resource estimate for its Gottesberg tin project
Heidelberg/Brisbane. Tin International Ltd., Brisbane, Australia, in which Deutsche Rohstoff AG holds a majority stake, has released a new resource estimate for the tin project Gottesberg in the Ore Mountains in Saxony/Germany. The full reports for Gottesberg and the company's second licence area Geyer/Ore Mountains, which have been compiled by an independent expert of the Australian company Mining One have now been finalised. They correspond to the internationally acknowledged Australian JORC standard. For the Gottesberg resource the independent experts estimates 42.1 million tons of ore at an average grade of 0.27% tin (cut-off grade 0.15% tin), which corresponds to contained 114,000 tons of tin. Of this total amount, 29,000 tons have now been classified in the higher category 'Indicated', after the expert included an additional 42 drill holes from the 1980s that had been carried out from underground mining shafts. The data from these drillings has only become available recently. A higher cut-off grade at 0.35% tin results in a resource of 33,000 tons of tin with an average grade of 0.49%. 10,000 tons thereof are assigned to the category 'Indicated'. Also for the first time a JORC estimate of the copper content of the ore in Gottesberg has been calculated. At the lower cut-off grade the expert estimates 38,000 tons of copper at an average grade of 0.09%, at the cut-off rate of 0.35% he estimates 8,000 tons of copper at an average grade of 0.12%. In both cases, the estimation of the copper content is assigned to the category 'Inferred'. Tin International plans to commence a further drilling program in Gottesberg in the first quarter of 2013, with the aim of increasing both the overall resource and the tonnage of higher grade zones within the resource. Under the current state of knowledge, the deposit could be expanded both in adjacent areas where abandoned mines are recorded, as well as to depth. Also for the first half of 2013, Tin International plans to prepare a scoping study, which will determine the layout of further work. Heidelberg, 8 October 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@rohstoff.de +49 6221 871 000 End of Corporate News 08.10.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Deutsche Rohstoff AG | |
| Friedrich-Ebert-Anlage 24 | ||
| 69117 Heidelberg | ||
| Germany | ||
| Phone: | 06221-87100-11 | |
| Fax: | 06221-87100-22 | |
| E-mail: | gutschlag@rohstoff.de | |
| Internet: | www.rohstoff.de | |
| ISIN: | DE000A0XYG76 | |
| WKN: | A0XYG7 | |
| Indices: | Entry Standard (Performance TOP 30) | |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt | |
| End of News | DGAP News-Service |
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| 187866 08.10.2012 |