Ivernia Provides Update for Lead Deposits at Paroo Station Mine

Ivernia Inc.(TSX:IVW) announced updated Mineral Resources and Mineral Reserves estimates for its lead deposits at the Paroo Station Mine located in Western Australia.

As quoted in the market news,

Total Proven and Probable Mineral Reserves estimated at approximately 6.8 million tonnes, at a head grade of 7.0% Pb, containing 475,000 tonnes of lead metal, a decrease of approximately 54.0% of contained lead metal

Total Measured and Indicated Mineral Resources estimated at approximately 31.8 million tonnes, at a head grade of 4.4% Pb, containing 1,395,000 tonnes of lead metal, a decrease of approximately 18.0% of contained lead metal

Estimated mine life of approximately 4 years

Richardson, President and CEO of Ivernia Inc, stated:

Current commodity prices and the results of our NI 43-101 review are unexpected challenges, however, we have made strong progress and demonstrated that we can safely operate and achieve record production within very strict operating conditions. To date we have overcome every obstacle on the path to restoring shareholder value and management is committed to working closely with the board and the special committee to complete the strategic review and this new information will be a key consideration.

Click here for the full Ivernia Inc.(TSX:IVW) press release