Patawalonga, it looks as if they had to put this out - look at the last two paragraphs (pasted below).
It is not uncommon for the ASX to kick up a fuss and make company's clarify resources if they are not JORC.
While it may not be JORC, it's still a lot of zinc - 430,000 tonnes at 14%. Grade it however you want, they're still sitting on a zinc slag dump of money IMO.
The Company has previously reported the ZZP as containing an ‘estimated non-JORC resource of 430,000 tonnes at 14% zinc’, based on a view that the available data supported this description. Following discussions with the Australian Securities Exchange, the Company withdraws this resource statement.
The Company does however have strong confidence that the ZZP contains a body of residue in the order of 430,000 tonnes mass and that a modest drilling programme with associated assaying, studies and calculations would allow the Company to take and report a formal position on mineral resources at the ZZP, if any, in accordance with the JORC Code.
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- Ann: Zeehan Zinc Project, Tasmania
Patawalonga, it looks as if they had to put this out - look at...
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