Markets

Sirocco Reports 57% Increase in Iodine Reserves at Aguas Blancas; Shares Slide 3.5% in Early Trade to Yr Low

Sirocco Mining Inc. (SIM.TO) today reported the December 30, 2012 Reserve and Resource estimate for its Aguas Blancas Mine in Chile.

The exploration work completed during 2012 has resulted in significant changes to the resource base at Aguas Blancas:

Iodine contained in Proven and Probable Reserves has increased by 57% to 38,412 tonnes (December 2011: 24,492 tonnes).

Proven and Probable reserves have increased by 57% to 82.9 million tonnes (December 2011: 52.9Mt).

Iodine contained in Measured, Indicated and Inferred Resources has increased by 29% to 70,141 tonnes (December 2011: 54,366 tonnes).

Measured and Indicated Resources have increased by 86% to 105 million tonnes (December 2011: 56.5Mt).

Richard Clark, CEO said: "The significant increases in both reserves and resources emphasizes the robust mine life of Aguas Blancas, now estimated in excess of 15 years, and demonstrates the potential to expand reserves further based on the additional resources defined during 2012. With this increase in our resource inventory, we will continue to focus on maximizing project economics and delivering shareholder value."

Sirocco is down 3.5% to a yr low of 55 cents in early trade.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos