Broken Hill Prospecting Ltd.: Quarterly Activities and Cash Flow Reports September 2017

01.11.2017  |  ABN Newswire

Sydney - Broken Hill Prospecting Ltd. (ASX:BPL) provides the Company's Quarterly Activities and Cash Flow Reports September 2017.

Highlights - Extensive Expansion Plans Underway

Corporate

- Strategy of becoming a significant heavy mineral sands (HMS) producer in the world class Murray Basin is advancing well with new acquisitions

- Strong cash position of $3.3 million at 30 September 2017 and no debt

- BPL is positioned for both organic and acquisition-based growth and new project assessment is ongoing

Projects

Murray Basin Heavy Mineral Sands Project

- BPL now holds the largest tenement portfolio in the world class Murray Basin

- Focus on high-grade, low-tonnage shallow deposits with high value mineral assemblage

- Development via low capex and low opex mobile, modular mining technology with extensive IP with leading edge Industry groups

- Market confidence remains high with sustained Titanium pigment and Zircon price increases in past 12 months

Thackaringa Cobalt Project, NSW

Base & Precious Metals

- Major geophysical survey completed at end of the quarter with assessment of initial results underway

- Major mapping/sampling program is planned for early November to target multiple base and precious metal prospects

Cobalt Blue Joint Venture

- Pre-feasibility studies advancing well

- Major drilling program commenced with four drill rigs onsite to complete 84 holes for 13,500m

- Joint venture terms modified to reflect best project delivery requirements

To view the full report, please visit:
http://abnnewswire.net/lnk/YQ032DN3

About Broken Hill Prospecting Ltd:

Broken Hill Prospecting Ltd. (ASX:BPL) is focused on the development of strategic technology mineral resources: Cobalt and Heavy Mineral Sands (HMS). The Thackaringa Cobalt Project is potentially a world class deposit, well positioned to met the growing demand for Lithium-ion batteries. The Murray Basin HMS Project is targeting the establishment of a sustainable pipeline of high grade, low tonnage deposits (titanium and zirconium) amenable to processing through mobile mining unit technology.



Contact:

Broken Hill Prospecting Ltd.
Tel: +61-2-9238-1170
Email: info@bhpl.net.au
www.bhpl.biz