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and environmentally responsible mining
Capital Metals plc (AIM: CMET), a natural resources company focused on the development of the Eastern Minerals Project in Sri Lanka ( the Project ), one of the highest-grade mineral sands projects globally, is pleased to provide a further progress update on activities on the ground in Sri Lanka.
Our Sri Lanka management team has held several meetings with the relevant government authorities and report that good progress is being made with the environmental process, and the Company is expecting further news on this in the coming weeks.
In addition, CMET is pleased to provide the following background information on the Project s potential to open new economic opportunities in eastern Sri Lanka, and the Company s work with local communities and commitment to ecologically sensitive production procedures that ensure all mining areas are fully rehabilitated.
IN BRIEF: Capital Metals may upgrade Sri Lanka site resource estimate
Mon, 26th Apr 2021 11:31
Capital Metals PLC - mineral sands developer focused on Sri Lanka - Sees compelling opportunities to significantly upgrade the resource estimate for the Eastern Minerals Project, which is already sufficient to develop a mine. Project has an estimated average grade of 18% total heavy minerals, making it one of the highest-grade mineral sands deposits in the world. Current estimate based on shallow drilling, deep drilling so far suggests up to 27% total heavy minerals. Initial exploration suggests there is potential for significant mineralisation in wider area of the project. High grade will reduce capital expenditure as it means less material needs to be mined and processed.
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