CASS Projects Overview
Cass Offshore Minerals Limited
A New Zealand, Ironsand and Ilmenite, Mining Corporation
New Zealand is a stable and robust first world country with excellent infrastructure, stringent legal standards, active capital markets and a strong long-term mining industry that offers a highly investable geopolitical environment. New Zealand’s sovereign rights over its continental shelf extend to an area 20 times the land-mass of the country – the fourth largest continental shelf land mass in the world. Its volcanic geology has made the waters offshore New Zealand an untapped mineral resource target of unprecedented scale.
Cass Offshore Minerals Limited (‘CASS’) New Zealand was formed in May 2013 as the Holding for Ironsands Offshore Mining Limited (‘IOM’) and Pacific Offshore Mining Limited ('POM'). IOM was founded in August 2008 and POM was founded in February 2010; each has exclusive rights over areas of seabed (the tenements) and beneficially owns the minerals contained on and in the sediment. Extensive reconnaissance work, initial resource definition and internal feasibility studies have been completed.
Constrained supply with increasing demand for iron ore, which cannot be met by conventional high-grade reserves [in decline]. Increasing demand for downstream products, merchant pig iron, steel, titanium, vanadium and gold.
A tenement of 2,361 km2, with an Exploration Result of 223 km2, on the Western coast of the North Island, surrounding Port Taranaki. The area already has extensive offshore energy industries in operation, offshore and onshore. Taranaki has the potential to mine ironsand containing titanomagnetite and vanadium. Two airborne magnetic surveys and a Fugro inversion study conducted in 2010/11 have defined a potential bulk mineral resource of 11,662 Million Mt with a Magnetite Exploration Target resource of 1,213 Million Mt, grading 10.4% of the bulk sand resource at 5% cut-off grade.
A tenement of 2,157 km2 with an Exploration Result of 123 km2 located off the East coast of North Island in the Bay of Plenty region, near the Port of Tauranga (NZ’s largest). These offshore iron sand resources focus on Ilmenite in shallow (20-50m) water depths. A bulk mineral resource size of 2,214 million metric tonnes(‘Mt’) with an Ilmenite Exploration Target resource of 332 Million Mt, grading 15% of the sediment.
CASS is now planning further resource definition by systematic drill out of Exploration Results to inferred/indicated level according to the JORC Code (2012) on its projects.
For more information see permits 51536, 52474, 55709.01 and 57130.01 on the NZP&M Permit Maps.
The exploration results reported are based on assessments of prospects within the projects which are supported by drilling, sampling, geophysical surveys, geological mapping and modelling undertaken over the last 4 years. However, the potential quantity and grade is conceptual in nature with insufficient exploration to define a Mineral Resource and it is uncertain if further studies will result in a Mineral Resource. The exploration target grade and tonnage is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through mapping of workings and drill holes which may be of limited or of uncertain quality and reliability.