In addition to the tin, separate indium and zinc resources have been estimated. As only certain parts of the core was analysed for indium, a value of 1ppm In has been inserted where no indium assays are available, in order to adequately model the data. Thus the indium resource estimates may be conservative. Due to the amount of assaying and lack of QaQc data, the indium and zinc resource estimates are only classified as inferred:
The indium and zinc are partially coincident with the tin and with each other but do not overlap entirely. In order to clarify the relationship of these elements to each other, the various overlapping resources have been tabulated below. A tin equivalent grade has been calculated in order to compare relative valuations of the various zones using metal prices of US$17,500 for tin, US$2,000 for zinc and US$680/kg for indium and assuming 65% recovery for all metals. It is likely that zinc and indium will have better recoveries but using that assumption would increase the tin equivalent grade and hence the conservative assumption of 65% has been used for all metals. This results in the following estimations:
Thus, as well as being a significant tin deposit in its own right, Tellerhäuser can be seen to be a very large tin equivalent deposit (about 215,000t tin equivalent) and possibly the largest and highest grade indium resource reported under JORC guidelines in the world. It is also interesting that there does not appear to be any statistical correlation between zinc and indium (or tin and indium) and the indium appears to be associated with either chalcopyrite or in its own mineral roquesite. Preliminary testwork suggest that these minerals can be readily separated and that indium can then be extracted from this concentrate by using an organic acid for dissolution and then collecting the indium via electrolysis. Most indium production is currently as a by-product of zinc mining and indium is much more difficult to extract from this type of deposit.
SBG is currently conducting a scoping study using Hatch, one of the world largest mining engineering companies, and this should be completed by the middle of 2015. SBG is also in the process of collecting channel samples from underground to both confirm the previous assaying and to obtain bulk samples for additional metallurgical testwork.
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+ Competent Person Statements
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The data in this report that relates to Exploration Data, cut off grades, metallurgical recoveries and metal price assumptions for the Tellerhauser Project is based on information evaluated by Mr Antony Truelove who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and the Australian Institute of Geoscientists (MAIG) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Truelove is a Director of Treliver Minerals and consents to the inclusion of the exploration data in the report of the Mineral Resource in the form and context in which they appear.
The data in this report that relates to Mineral Resources for the Tellerhauser Project is based on information evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Tear is a Director of H&S Consultants Pty Ltd and he consents to the inclusion of the estimates in the report of the Mineral Resource in the form and context in which they appear.