Richfield starts Toli-Toli molybdenum project scoping study & PFS

Australian mining firm Richfield Group Limited has engaged Beijing General Research Institute of Mining and Metallurgy (BGRIMM) to carry out a scoping and pre-feasibility study on its Toli- Toli Molybdenum project, Central Sulawesi.

According to the company in a report released last week, BGRIMM is China?s biggest comprehensive research and design corporation engaged in mining, metallurgy and engineering technology.

The research program will be in three stages with the aim of outlining the path to commercially produce a marketable product of Molybdenum, it said.

The Company has also engaged Transocean Securities Pty Ltd (Transocean) to provide equity capital, market advice and corporate advisory services to assist the Company during its current exploration stage as well as managing and assisting the Company in its further capital raisings.

The company also reported on Wednesday that assay results for the interval 197-317 meters of drillhole M37 have confirmed to continuance of the mineralized sheeted vein system to a downhole depth of 250 metres.(denny)