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Crusader resources Ltd.
Summary
| Project: | Borborema | |
|---|---|---|
| Deposit: | Borborema | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 7/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 24-7-2017: Crusader resources Ltd. announces a Resource Estimation report for its Borborema deposit at the Borborema project. Mineral resource and ore reserve updated to JORC 2012 Compliance. As part of the process to complete the merger transaction with | |
| Resources: | (Reserve, P+P): 42.41Mt @ 1.18g/t Au for 1.61Moz Au contained at project | |
| CP/QP: | [Resources]: Lauritz Barnes, Aidan Platel, Brett Goassage (Independent) | |
| ABSTRACT: | As part of the process to complete the merger transaction with Stratex International PLC, and in compliance with Australian Securities Exchange (ASX) and Australian Securities and Investments Commission (ASIC) requirements to apply for a dual listing of the merged entity through the issuance of CHESS Depositary Interests (CDI), Crusader is pleased to report (together with its independent consultants Trepanier, Platel Consulting, EGRM Consulting Pty Ltd and Kirk Mining Consultants) an updated Borborema Mineral Resource and Ore Reserve to comply with the 2012 version of the JORC code. The Mineral Resource was previously reported in July of 2012 and the Ore Reserve in November 2012 under the 2004 version of the JORC code. There is no difference in the numbers between the versions (see Tables 1 and 2 below), however the current version has additional background information and disclosure around the Mineral Resource and current explanations and discussion for the Ore Reserve. Crusader intends to lodge the draft Scheme Booklet with the Australian Securities and Investments Commission in the coming days, and will provide further updates to the market regarding the indicative timetable for the merger process in due course. The reporting criteria for the Mineral Resource and Ore Reserve along with the JORC Table 1, table of historical drilling results and diagrams are included. | |
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