Admiralty Resources Nl.
ASX Code
ADY
Sector
Materials
Investor Centre
https://ady.com.au/investor-centre/
Website
https://ady.com.au/
About
Admiralty Resources NL is a diversified mining company with mineral interests in Australia and Chile and trades on the Australian Securities Exchange under the code ADY. ADY is focused on iron ore in Chile, with the company also having a project in Australia – Pyke Hill Project near Leonora in Western Australia. Admiralty’s flagship projects are the iron ore districts in Chile: Harper South (2,498 Ha), Pampa Tololo (3,455 Ha) and El Cojin (600 Ha). The districts are located in prime locations, with close and easy access to the Pan-American Highway (a major route), a railway and power line and operating shipping ports. Admiralty’s project in Australia is the Pyke Hill Project, a cobalt and nickel project in Western Australia, whose mining lease is 50% owned by Admiralty. Admiralty in Chile The Harper South district (“Harper South”) is the most advanced district in respect to exploration. To date, six targets have been confirmed as carriers of iron mineralisation: Mariposa, La Chulula, Soberana, Negrita, La Vaca and Mal Pelo. Mariposa has a JORC 2004 compliant resource of 174.5 Mt (as per ASX announcement on 25/1/2013). An engineering mine plan (or Prefeasibility Study) for an initial production of one million tonnes of finished product per annum has been commissioned to Redco Mining Engineers. • Admiralty engaged China Anhui Ma Steel Engineering & Technology Co., Ltd. Updated the PFS in September 2018 • Resource of 66.6Mt at an average of 35.6% total iron (FeT) using a cut-off grade of 25% FeT. • 17-year Life of Mine (LOM) estimated based on current resources • Production rate of 2 million tonnes per annum, the 71.78kt/an iron ore concentrates with TFe grade of 68% will be produced. La Chulula. The Mineral Resource Estimate quantifies the resources at La Chulula at 96 Mt at 24% Fe for a 15% Fe cut-off in the inferred category. The La Chulula resource estimate is based on the results obtained from the reverse circulation and diamond drilling campaign completed in 2012 Soberana has a JORC 2004 compliant resource of 90.2 Mt (as per ASX announcement on 15/1/2013). Pampa Tololo district – A high resolution ground magnetic survey carried out in 2011 identified three targets: Cochrane, O’Brien and Simpson. A reverse circulation drilling campaign of 3,311m took place at Simpson in July/August 2012. The results of this campaign are currently being evaluated by the Company. El Cojin district – It is the least advanced of the Admiralty’s projects in Chile, with the first piece of exploration work being a high-resolution ground magnetic survey carried out in 2012. The survey identified 5 targets in total with 3 of them showing great depth and high susceptibility.