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Progress
Aeromagnetic Survey - Outline of Round Top
Texas Mineral Resources Corp. (TMR) has evaluated the economic potential of the Round Top project, with the Preliminary Economic Assessment (PEA) of November 2013. TMR completed a number of geological and metallurgical studies in 2011, 2012 and 2013 after the drilling program was completed. The exploration program objectives were to define the contact between the intrusion and sedimentary rocks, determine the lateral extent and thickness of the rhyolite intrusion, and obtain samples for assay and metallurgical testing. The drilling results provided confirmation of historical drill and assay information and the basis for the Round Top geological model.
Drilling Program
As of April 2012, a total of 73 reverse circulation holes been drilled with a total depth of over 32,000 feet. The drilling program involved one reverse circulation drill rig on the mountain. An additional 90 holes are scheduled to be drilled through the feasibility study. A core drilling program commenced in March 2012.
Aeromagnetic Survey
In May 2011, an airborne magnetic survey was flown over the project area. This survey was conducted to identify future drill targets, assist with the present drilling program, and determine the location of the feeder neck for the Round Top intrusion.
Aeromagnetic Survey - Intrusions
Stream Sediment Study
A stream sediment study was completed during the summer 2011. The stream sediment study was used to identify future drill targets for beryllium and uranium mineralization on Round Top, Little Round Top and Little Blanca.
Milestones
In November 2013, Gustavson Associates to completed a Preliminary Economic Assessment (PEA) which is on this website. The PEA, as expected, moved TMR forward in the definition of the resource* and de-risking of the Round Top project. Following the completion of the PEA and subject to obtaining necessary financing, TMR expects the Pre-Feasibility Study (PFS) to be completed in the summer of 2014. It is expected that the PFS will further refine elements of project engineering including engineering studies, pilot tests, and mine/plant design. Also subject to obtaining necessary financing, a full Feasibility Study is expected in late 2014, which will establish a single option for bringing the Round Top project into production.
*See Cautionary Notes to Investors.