Hindustan Zinc Limited ("HZL") announces that ongoing exploration activities have yielded significant success with an increase of 46.3 million tonnes to its reserves and resources, prior to a depletion of 6.7 million tonnes in FY 2009. Containted Zinc-lead metal has increased by 4.7 million tonnes, prior to a depletion of 0.7 million tonnes during the same period. Total reserves and resources at 31 March 2009 were 272 million tonnes containting 31.5 million tonnes of zinc-lead metal. The reserves and resources position has been independently reviewed and certified as per JORC standar.
In FY2009, record annual drilling of 70,300 metres was completed. The success of our exploration efforts has been primarily at the Rampura Agucha and Sindesar Khurd mines. The success of exploration efforts during the year is signified by additions at the Rampura Agucha and Sindesar Khurd mines where we now have a reserve and resource base of 118.7 million tonnes (FY2008: 107.3 million tonnes) and 56.6 million tonnes (FY2008: 37.1 million tonnes), respectively.
Source: Equity Bulls
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