Altura Mining gains Project understanding with Resource update


Altura Mining gains Project understanding with Resource update

Improved Project understanding with Resource update

Altura Mining is building a leading position in the independent supply of lithium raw materials, with a world class lithium project at Pilgangoora ready to set the platform and be the first new hard rock supplier in 2017. The company has completed a Definitive Feasibility Study in 2016 with production expected to commence early 2018.

Challenge:

To ensure Altura was well placed to raise the capital required to progress the project, an up-to-date Ore Resource and Reserve was required. The board required a credible and independent consulting group to work with in updating the existing resource at the completion of an in-fill drilling campaign. The Altura Competent Person had an excellent understanding of the geology in the field, but required assistance to create the model to produce a robust and reliable estimate.

In addition, there was a requirement for local consultants, as Altura Mining is Perth based and it was considered important to communicate face-to-face when collaborating on the new geological model.

Solution:

Altura engaged Cube Consulting to update the resource model. The first stage was to create a complete new geological model to ensure there was good understanding of the physical shape of the orebody. The next stage was to create a model that best represented the orebody. Altura and Cube chose the Local Uniform Conditioning (LUC) method to build a representative model.

Stephen Barber (Altura) worked closely with Rick Adams (Cube) over a number of visits where the two were able to collaborate from neighbouring offices. This allowed face-to-face teamwork whereby both client and consultant could share their experience for a positive result. Stephen had all the field experience and Rick was able to provide the scientific input to ensure the interpretation and subsequent model honoured the geology.

Benefits:

The geostatistical method recommended by Cube has proved robust and, combined with the new geological model has delivered a clearer understanding of the orebody.

There was a positive collaboration between Altura and Cube resulting in an improved understanding of the geology of Pilgangoora project.

Altura Case Study