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Salt River:

SRR


Prospect

The Salt River deposit occurs on the Remaining Extent (Kraandraai) of the farm Adjoining Geelvloer No 197, which covers approximately 3 035 ha (30.4 km2) in the Northern Cape Province. The property is located roughly 80 km southeast of Pofadder or 100 km southwest of Kakamas. SRR has held the mineral rights to the property since 1997 when the mineral rights were purchased from the landowner. In accordance with the new Minerals and Petroleum Resources Development Act of 2002 (Act No. 28 of 2002), SRR was successful in being granted a New Order Prospecting Permit over the property in September 2006 and registered with the Mineral & Petroleum Titles Registration office in May 2007.


Current Mineral Resource Estimate

Deposit/ Prospect

Resource Category

Mt

Grade

Cu
Equiv. *

As of 20 May 2008

 

 

Zn (%)

Cu (%)

Pb (%)

Ag (g/t)

Au (g/t)

 

 

Measured

9,97

1,83

0,46

0,55

21,35

0,45

1,66

Salt River

Indicated

14,13

1,78

0,66

0,35

19,89

0,59

1,68

 

Inferred

1,91

1,23

0,95

0,53

45,00

3,65

3,04

Total

 

26,01

1,76

0,64

0,49

21.7

0,84

1,64


*Using 30 July 2008 metal prices (zinc US$1863/t; copper US$8055/t; lead US$2241/t; gold US$913,80/oz and silver US$17,46/oz).
Deposit Geology

Regionally, the Salt River deposit occurs along the eastern limb of a late, regional-scale, northeast trending and plunging, open anticline. Within the immediate vicinity of the deposit, the host rock package strikes to the east-northeast and dips to the northeast at 25. Within the deposits, the high-grade zone trends in a north-northeast direction and plunges at roughly 12.

The deposit itself comprises three asymmetrical, stacked, largely tabular ore zones, terms Upper Sulfide Zone (USZ), Middle Sulfide Zone (MSZ) and Lower Sulfide Zone (LSZ). The thickest portion and best ore grades (high-grade zone) of the deposit is located along the eastern edge. For example, in the high-grade zone the average thickness of the mineralized package varies between 1 and 18 m and displays the highest Cu content compared to the western edge of the deposit.

The USZ largely comprises a semi-massive to massive pyritic horizon with localized sulfide-stringers in magnesium-altered rocks. These magnesium-altered rocks become less conspicuous downwards and appear to be economically extractable where the grade of sulfide mineralization increases (MSZ) or in areas exhibiting higher concentrations of sulfide-stringers (LSZ).




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