For thousands of other reports visit RSC's Mineral Intellingence Map
Calidus Resources Ltd.
Summary
| Project: | Warrawoona | |
|---|---|---|
| Deposit: | Warrawoona | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/17/2019 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-7-2019: Calidus Resources Ltd. announces a Pre-Feasibility Study report for its Warrawoona deposit at the Warrawoona project. PFS results incl. post-tax NPV (8%) Of $168M, IRR of 27%. Calidus Resources (ASX:CAI) is pleased to announce the Maiden JORC R | |
| Resources: | (Reserve, Prob.): 8.9Mt @ 1.5g/t Au for 418Koz Au | |
| CP/QP: | [Overall Report]: Steve O’Grady (Intermine Engineering Consultants) | |
| ABSTRACT: | Calidus Resources (ASX:CAI) is pleased to announce the Maiden JORC Reserve and results of the PreFeasibility Study (PFS) for its Warrawoona Gold Project in Western Australia’s Pilbara region. The PFS demonstrates that Warrawoona will be a robust gold project based on a Maiden Probable Reserve of 418,000oz underpinning an estimated initial six-year mine life producing ~100,000ozpa with a Life-of-Mine All-in Sustaining Cost of ~A$1,159/oz. Importantly, Calidus emphasises that it has adopted a conservative approach to the project, including the assumptions used in its resource and reserve models and a further planned continued drill-out, which is aimed at minimising the mining risks as the project moves into Bankable Feasibility Stage. Calidus Managing Director Dave Reeves said: “The Maiden Reserve and PFS show that Warrawoona will be a robust Australian gold project based on a simple operation with strong margins and cashflow. It also has substantial potential for growth in the mine plan material and mine life, as demonstrated by recent exploration results. We have deliberately taken a conservative approach to the modifying factors applied to the anticipated mined grade because this is the highest sensitivity in any project. We will undertake systematic drilling in the next quarter to further improve our knowledge of the orebody as another step in the de-risking process. A subsequent grade control programme prior to construction in conjunction with the drilling to a planned Measured Resource will be applied to both the wider resource model and the feasibility modifying factors. Project permitting is expected to take 12 months, during which time we will continue to de-risk the project, finalise the Feasibility Study, secure project finance and continue regional and extensional exploration to grow the mine life. Initial drilling will be both down-dip to improve confidence and shallow drilling along strike to the east to allow an increased conversion from resource to reserve. The Calidus team has demonstrated experience in developing and operating mines successfully and is excited about the journey ahead to build this outcropping gold project. We look forward to continuing to work with the community, the Shire of East Pilbara and the Traditional Owners as we advance the project for the benefit of all stakeholders. On behalf of the Board, I’d like to thank our staff, study managers, respected consultants and mining contractors we engaged for the various scopes, and in particular GR Engineering Services Limited, which has done the heavy lifting on the processing plant and infrastructure component to bring the PFS together.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report