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Franconia Minerals Corporation (TSE:FRA) reports its updated resource estimate for the Main Zone at the Birch Lake property.
The press release is quoted as saying:
As noted in this report, based on a Net Smelter Return (NSR) cut-off of US$30/tonne, Scott Wilson Roscoe Postle Associates (“Scott Wilson RPA”) estimates an Indicated Resource* of 176.8 million tonnes. This represents a 35% increase in the amount of Indicated Resources from the previous 2009 estimate (see news release of September 23, 2009) of 131.2 million tonnes. In addition, Scott Wilson RPA also estimated an Inferred Resource of 39.9 million tonnes. The increase in resources is a result of 2010 drilling, which expanded the width of the deposit, and the re-interpretation of Main Zone (deposit) thickness.
Click here to access the entire news release.