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Beadell Resources Ltd.
Summary
| Project: | Tucano | |
|---|---|---|
| Deposit: | Tucano (incl. Urucum) | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 4/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-4-2017: Beadell Resources Ltd. announces a Resource Estimation report for its Tucano (incl. Urucum) deposit at the Tucano project. 11% increase in mineral resources and 7% increase in ore reserves at Tucano project. Beadell Resources Limited (Beadell o | |
| Resources: | (Reserve, P+P): 28.2Mt @ 1.74g/t Au for 1.58Moz Au contained at project | |
| CP/QP: | [Resources]: P Tan, M Batelochi, B Wolfe (Internal;MB Soluções em Geologia e Mineração Ltda;International Resolutions Pty Ltd.) | |
| ABSTRACT: | Beadell Resources Limited (Beadell or Company) is pleased to announce an annual Ore Reserve and Mineral Resource update as at 31 December 2016, produced in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Simon Jackson, CEO and Managing Director commented: “We are very pleased that our exploration success at Tap AB has translated into meaningful increases in both Reserve gold grade and ounces. This in turn increases the open pit mine life to approximately seven years. With planned mill upgrades we expect that Tucano will develop into a long life robust operation. Importantly, these reserve and resource increases are a result of only eight months of drilling – we are at the beginning of the exploration journey at Tucano and we are very excited for the future of Tucano as an exploration story.” The Company’s Measured, Indicated and Inferred Mineral Resources as at 31 December 2016 was 67.0 million tonnes @ 1.82 g/t gold for 3.92 million ounces. Resource ounces increased by 11% compared to the previous year-end 2015 as a result of large increases to the Tap AB deposit of 559,000 gold ounces. The Tucano Proved and Probable Ore Reserves as at 31 December 2016 were 28.2 million tonnes @ 1.74 g/t gold for 1.58 million ounces. Reserve ounces increased by 99,000 ounces (7%) compared to the 2015 Reserve or 267,000 ounces (18%) after allowing for 2016 depletion of 168,000 ounces. | |
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