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AngloGold Ashanti Ltd.
Summary
| Project: | Gramalote | |
|---|---|---|
| Deposit: | Gramalote | |
| Location: | Colombia | |
| Commodities: | Gold | |
| Date: | 2/20/2018 | |
| Report Code: | SAMREC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2018: AngloGold Ashanti Ltd. announces a Resource Estimation report for its Gramalote deposit at the Gramalote project. Initial Ore reserve for the Gramalote project. AngloGold Ashanti Limited (AGA) is pleased to announce the first Ore Reserve for th | |
| Resources: | (Reserve, Prob): 63.71Mt @ 0.86g/t Au for 1.76Moz contained at Gramalote | |
| CP/QP: | [Resources]: Claudio Devaux (Internal) | |
| ABSTRACT: | AngloGold Ashanti Limited (AGA) is pleased to announce the first Ore Reserve for the Gramalote project in Colombia - with 63.7Mt @ 0.86 g/t gold comprising contained metal content of 1.8Moz, on an attributable basis. The Gramalote project is a Joint Venture between AGA (51% and manager) and B2Gold (49%). The project lies on the eastern flank of the Cordillera Central near the towns of Providencia and San Jose del Nus in the municipality of San Roque, in the north-west of the Antioquia Department. It is approximately 230km north-west of Bogota and 124km north-east of Medellin (see Figure 1). We are developing this as a good long-term option in our pipeline, and will be working hard to optimise all of its key elements – including capital -- during the feasibility study phase,” Ludwig Eybers, AngloGold Ashanti’s Chief Operating Officer-International said. “While we are a long way from committing any capital to this project, it represents good value that we will realise over time.” There is a lot of work to do, during the feasibility study The region encompassing Gramalote has a long history of artisanal gold mining. Gramalote itself has had small scale artisanal mining for several decades prior to exploration work and mineral discovery by AGA. In view of the artisanal small-scale mining in the area, AGA has engaged with key stakeholders and managed to get community support for the project. The project aims to provide opportunities of alternative livelihood to the area once it is developed as planned. Drilling commenced in 2006. In 2010, AGA became the operator and manager of the project with a 51% share. Sufficient work was completed to enable a PreFeasibility study to be completed in late 2013. | |
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