Mintails owns the rights to process and extract gold, uranium and sulphuric acid from extensive tailings resources located on the West and East Rand regions of South Africa's historic Witwatersrand Basin. Mintails controls these rights in respect of over 330 million tonnes of slimes, sands and rock tailings materials, mainly located on South Africa's historic West Rand and from its 50% joint venture share in over 1.5 billion tonnes of slime tailing materials located on the East Rand.

RESOURCES

Mintails controls directly or via 50 / 50 joint venture approximately 1.85 billion tonnes of tailing materials located on the West and East Rand Regions of the Witwatersrand Basin of South Africa.

After completing the sale of the Elsburg Gold Joint Venture to DRDGold Mintails retains a 50% interest in the ERGO Mines Joint Venture (East Rand) which comprises approximately 1.5 billion tonnes of tailings materials containing gold, uranium and sulphur. On the West Rand (100% Mintails / BEE) the Company has JORC Classified Resources of 322 million tonnes containing an estimated 3.19m ounces of gold and 25.65m lbs of uranium as described below.

Mogale Projects [West Rand] JORC Classified Resources

Table : Click here to view PDF

Far East [East Rand] Resources

At present none of the 1.5 billion tonnes of tailings materials contained in the ERGO Mines Joint Venture are JORC Classified.

The Company is undertaking classification studies on a proportion of these tailings and other "orphan" (i.e. non-Joint Venture, isolated) dumps with a view to defining JORC resources later in the year.