Location and abundance
Bisie is located in the Walikale Territory of the North Kivu Province of the DRC. Located approximately 180km northwest of Goma, the provincial capital of the North Kivu Province, Bisie is 60km from the town of Walikale and 32km from the national route linking Walikale with Kisangani. Bisie is one of the world’s largest tin deposits and among the most advanced tin projects being developed, thus it presents significant advantages.
Drilling at Mpama North and Mpama South commenced in July 2012. Initial drilling focused on both prospects where significant tin mineralisation was identified over several hundred metres of strike at both Mpama North and Mpama South. Results confirmed the potential for a robust tin project at Bisie and management decided to focus on drilling out a resource at Mpama North even though results showed both targets had equal potential to host significant resources. In November 2013 the Company announced a maiden inferred mineral resource estimate of 4Mt at 3.5% tin for 141 200 tonnes contained tin (0.25% cut-off). The resource estimate at Mpama North was updated in March 2015 and included indicated resources of 2.65Mt at 4.49% tin for 119 240 tonnes contained tin (0.5% cut-off) and 1.2Mt at 3.6% tin for 42 800 tonnes contained tin (0.5% cut-off) in the inferred category.
The Company announced a 30% increase to the March 2015 mineral resource estimate in October 2015. This included 3.94Mt at 3.94% tin for 155 300 tonnes contained tin (0.5% cut-off) in the indicated category and 0.84Mt at 4.64% tin for 38 900 tonnes contained tin (0.5% cut-off) in the inferred category and was used in the mining study in the Feasibility Study.
The mineral resource estimates were again updated in May 2016. The mineral resource estimate contains 19 600 tonnes tin in measured mineral resource, 188 400 tonnes tin of indicated mineral resource and 22 800 tonnes tin of inferred mineral tesources declared at a 0.5% tin cut-off grade.
The completion of the 2016 Feasibility Study for the Project was an important step in demonstrating its robust nature and progressing it towards execution and production.
Bisie, which also has excellent metallurgical recovery characteristics and very low levels of deleterious materials in concentrate, is expected to produce tin concentrate at an all-in operating cost of US$8 837 per tonne tin, after it comes into production. There is no other known tin project in the world that can commit to construction under the present price conditions, and as such, the Project is expected to become the next significant tin producer.