Ring of Fire junior player KWG Resources reports its Black Horse chromite deposit contains 77.9 million tonnes of inferred resources.
The company received an updated geological report and resource calculation from its consultants based on results from its winter drill campaign in the James Bay region.
In using a 20 per cent cut-off, the company reports a grade of 35.3 per cent of chromite.
In a May 13 news release, the company cautioned that “due to the uncertainly in the estimate and that no mineability and dilution studies have been applied to these resources, they may not all be economically recoverable.”
The company said the deposit is open on strike to the northeast and at depth.
The increase in the size of the resource is the result of thickening of the deposit deeper down.
The width of the deposit ranges from 100 metres at the southwestern end to about 25 metres in the northeastern half. The southwest is dominantly layered chromitites while the northeast is dominantly massive chromitite.
KWG’s consultants recommended further drilling be done to better define the limits and continuity of the mineralization in the northeastern part.