Deutsche Rohstoff Ag: Consultant confirms resource estimates for Gottesberg and Geyer tin deposits
and Geyer tin deposits
Initial drilling program successfully completed
Heidelberg. Deutsche Rohstoff AG announced in Chemnitz today, that an
independent Australian expert has confirmed the resource estimate for two
of the world's largest tin deposits in the Ore Mountains in Germany. The
estimate is now JORC Compliant' since it complies with the worldwide
applicable Australian classification standard for mineral resources. For
Gottesberg the Australian consultant calculated a metal content of 115,000
tons of tin at an average grade of 0.27% tin within the ore and for Geyer a
metal content of 44,000 tonnes at 0.37% tin. The price of tin is currently
at USD 20,000 per tonne.
To verify the estimates from GDR times, Tin International (Deutsche
Rohstoff AG 61%) drilled eight holes with a total length of 2,150m from
November 2011 until April 2012.
Dr. Thomas Gutschlag, Chief Financial Officer of Deutsche Rohstoff AG,
commented: 'We are very pleased with the results of the confirmatory
drilling work. TIN will now begin scoping and feasibility studies with the
plan to develop the deposits.'
The new estimate for Gottesberg is in line with the historical estimate of
121,000 tons of tin at an average grade of 0.26%. In Geyer, the current
estimate is slightly lower than the historical amount of 61,000 tons of tin
at an average grade of 0.44%. However, this is also due to the fact that
the new classification of the resource was made in the category
'indicated', while the historical estimate graded the deposit according to
GDR standard 'C2', which corresponds to 'inferred' and stands for a lower
degree of certainty. Gottesberg is still classified as 'inferred', but the
modelling of further underground drilling from the GDR times is currently
running. The result of these drillings could upgrade parts of the
Gottesberg resource to the 'indicated' category.
In the future, the activities in both tin projects will be managed by the
Australian Kerry Heywood who was appointed as Chief Executive Officer (CEO)
of Tin International Ltd., Brisbane, Australia, of which Deutsche Rohstoff
AG group is the largest share holder. Kerry Heywood is a mining engineer
with over 30 years experience. Previously he worked in exploration,
evaluation, development, financing and operation of mines in various
countries, including Australia, Russia, Germany, Chile and South Africa. He
also brings extensive experience in the management of listed companies.
To ensure the future funding for the feasibility and development of
Gottesberg and Geyer an IPO in Australia is planned within 2012.
Heidelberg, 30 August 2012
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil & gas and so called
high tech metals such as tin, tungsten, and rare earth metals. All projects
are located in countries marked by political stability, the core area being
Germany. The business concept is based on redeveloping deposits, which have
been well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Thomas Gutschlag
+49 6221 871 000
gutschlag@rohstoff.de
End of Corporate News
Unternehmen: Deutsche Rohstoff AG - ISIN: DE000A0XYG76