MMX Discloses Technical Report of MMX Corumbá's Mineral Resources and Reserves
April 04 2008 - 6:13PM
Marketwired
RIO DE JANEIRO, BRAZIL (TSX: XMM) ("MMX" or "Company") hereby
informs its shareholders and investors that a new Technical Report
of MMX Corumb� Minera��o Ltda.("MMX Corumb�") mineral resources and
reserves has been concluded.
The report was audited by SRK Consulting, an independent company
specialized in geology and mining, and was carried out in
accordance with the standards set by the Canadian Institute of
Mining, Metallurgy and Petroleum (CIM Standards) and by the
National Instrument 43-101 of the Canadian Securities
Administrators (NI 43-101).
This report presents the resources of the Urucum NE area, which
reached 70 million tonnes of estimated mineral resources, in
addition to the resources previously disclosed for Mine 63.
The resource estimate provided in this report was based on
exploration data surveyed up to September 2007, and presents the
results for the two areas -- Mine 63, currently in operation, and
the Urucum NE exploration target.
The resources and reserves of Mine 63 were not revaluated; they
were adjusted to reflect the exclusion of the quantities mined from
January to September 2007.
The current total resources and reserves of MMX Corumb� are
presented on the tables below.
MMX Corumba System Mineral Resources (*)
Area Classification Tonnage Fe
(Mt) (%)
----------------------------------------------------------
Measured 5,2 60,9
Indicated 40,4 51,9
Mine 63 Stockpile 0,1 60,4
Total Indicated 40,5 51,9
Measured and Indicated 45,6 53,1
Inferred 14,0 53,3
Measured 3,2 55,2
Urucum NE Indicated 34,0 53,0
Measured and Indicated 37,2 53,2
Inferred 32,8 51,0
Measured 8,4 58,8
Total Indicated 74,5 52,4
Measured and Indicated 82,9 53,1
Inferred 46,8 51,6
(*) Tonnes reported on a wet basis.
The cut-off grade for Mine 63 is 30% Fe and for Urucum NE is 20% Fe.
The tonnage reported for resources of Mina 63 includes reserves tonnage.
Mine 63 Reserves (*)
Classification Tonnage Fe
(Mt) (%)
-----------------------------------------------
Proven 4,3 61,03
Probable 25,0 54,74
Stockpile 0,1 60,40
Total Probable 25,1 54,76
Total Proven and Probable 29,4 55,68
(*) Tonnes reported on a wet basis.
The cut-off grade for eluvium is 48.0% Fe and for colluvium is 56.1% Fe.
MMX will continue its geological survey in 2008 aimed at
estimating additional resources and reserves.
SRK Consulting, a company specialized in geology, mining and
mineral resources determination, was responsible for the audit. The
Technical Report was endorsed by the Qualified Persons: Leah Mach
CPG, MSc, Dr. Neal Rigby CEng, and S E E Johansson.
The complete Technical Report is available on the Company's
Investor Relations website www.mmx.com.br/ri.
MMX Minera��o e Met�licos S.A.
Luiz Rodolfo Landim Machado
Executive President and Investor Relations Officer
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