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Aura Minerals Inc.
Summary
| Project: | Mineracao Apoena | |
|---|---|---|
| Deposit: | Ernesto | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 3/8/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-3-2019: Aura Minerals Inc. announces a Resource Estimation report for its Ernesto deposit at the Mineracao Apoena project. Updated resource and reserves in statement before commencement of mining. ROAD TOWN, British Virgin Islands, March 08, 2019 -- Aur | |
| Resources: | (Reserve, P+P): 1.121Mt @ 3.32g/t Au for 119.864Koz Au contained | |
| CP/QP: | [Resources]: Farshid Ghazanfari (Internal) | |
| ABSTRACT: | ROAD TOWN, British Virgin Islands, March 08, 2019 -- Aura Minerals Inc. (TSX: ORA) is pleased to announce that the Ernesto Deposit, located in Mato Grosso, Brazil, has received approval from the Board of Directors for Commencement of Operations. The Ernesto Project is a high-grade gold deposit located within the main mining concession of the Mineração Apoena operations in Mato Grosso State. The deposit is located approximately 400 meters north of the Apoena gold plant. Prestripping will start in Q3 2019 with ore production to commence in December 2019. Rodrigo Barbosa, the Company’s President and CEO noted, “We are satisfied that the additional work performed in the last year related to further infill drilling and transitioning into an open pit mining method has further de-risked this Project. The Project will be financed through a combination of our own operational cashflows in Brazil and a secured US$ 8 MM loan.” The guidance provided in this press release regarding CAPEX, OPEX, mining costs, processing costs, G&A costs and discounted free cash flow is based on certain estimates and assumptions, including, but not limited to, mineral reserve estimates, grade and continuity of interpreted geological formations and metallurgical performance. Please refer to the technical report prepared by P&E Mining Consultants Inc., in respect of the Project filed on January 13, 2017 (the “Technical Report”) and to the Company’s SEDAR filings for complete risk factors. | |
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