Kazax Reports Increase in Mineral Resource at Lomonosovskoye Project

Kazax Minerals Inc. (TSXV:KZX) announced a revised mineral resource estimate for its Lomonosovskoye project in Kazakhstan revealed an increase in mineral resources. The updated estimate shows a 6 percent increase in tonnage and a4 percent increase in contained iron in the measured and indicated categories compared to the estimates in the April 2014 report.

As quoted in the press release:

The Updated Estimate for the Deposit is based on an updated drill database. The new mineral resource estimate is as follows, using a cut-off grade of 20% iron (effective as of 31 October 2014) (*):

The most significant increase is in the inferred category, with the addition of 50 million tonnes (Mt) and an increase in grade from 28.4% to 30.4% Fe. The changes from the estimates in the April 2014 Report relate to increased confidence levels from additional drilling, as well as changes in the interpretation of mineralization geometry. This is particularly evident in the measured category, which incorporates part of the Central Deposit where the majority of new drilling has occurred.

Click here to read the full Kazax Minerals Inc. (TSXV:KZX) press release.