Exploration Permits- The Company’s exploration permits allow it to undertake drilling, blasting, pitting and development of mines
- In addition, TRPL had also been granted special export permission for 50,000 MT of manganese from its Bondouku and Toumodi concessions during the exploration stage
- TRPL has used about 45,000 MT of this available limit in the FY2008-09 through its mining operations at Bondouku
- The Company has submitted a feasibility report with an application for grant of an exploitation permit for the Bondouku mines and expects to receive it by mid-2009
- In the meantime, the Ivory Coast Government has granted TRPL a new special export permission of [200,000] MT to ensure that there is no stoppage of mining activities at Boundouku
SRKES STUDY REPORT
| Site | Status | Area(km2) | Potential In situ Mineral Inventory (‘000 MT) | | Bondoukou | Exploration | 950 | 2,791 at a likely grade of 38%* | | Zeimougola | Exploration | 250 | 2,472 at a likely grade of 38%* | | Korhogo | Prospecting | 733 | further exploration required | | Tomoudi | Exploration | 480 | further exploration required | | Tabou | Prospecting | 1064 | still under prospecting | | Tai | Prospecting | 450 | still under prospecting | | | | 4477 | 5262* | Based on geology and mining review conducted by SRK Exploration Services in May 2008. Bondouku permit was only partially explored. |
| Depth of super-gene enrichment (mt) | Total Tonnage (Kt) | | 10 | 1,754 | | 20 | 3,508 | | 30 | 5,262 | | 40 | 7,016 | 50 | 8,770 | | 60 | 10,524 | | 70 | 12,278 | | 80 | 14,032 | - According to SRKES, the main assumption that can have a significant impact on the potential resource is the depth of the observed super-gene enrichment
- Previous studies conducted on similar deposit types, including those within the Ivory Coast, have suggested 30mt depth to be the maximum
- Notwithstanding this, none of the concessions granted to TRPL have been drill tested sufficiently to support this assumption and as such the extrapolation depth at each prospect could provide significant upside potential
- The table on the page illustrates the sensitivity of the mineral inventory to the depth at which the super-gene enrichment is extrapolated
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