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Crusader resources Ltd.
Summary
| Project: | Borborema | |
|---|---|---|
| Deposit: | Borborema | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 3/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 6-3-2018: Crusader resources Ltd. announces a Resource Estimation report for its Borborema deposit at the Borborema project. Mineral reserve estimate unchanged after current economic inputs. Crusader Resources (ASX: CAS) is pleased to announce an update | |
| Resources: | (Reserve, P+P): 42.4Mt @ 1.18g/t Au for 1.61Moz Au contained | |
| CP/QP: | [Overall Report]: Linton Kirk (Kirk Mining Consultants Pty Ltd.) | |
| ABSTRACT: | Crusader Resources (ASX: CAS) is pleased to announce an update to the Borborema Ore Reserve in compliance with the 2012 version of the JORC code and using current economic inputs as at 31st December 2017. The Mineral Resource and Ore Reserve was previously reported in July of 2017. This update fully supports the previously reported ore reserve using current economic inputs including commodity pricing, exchange rates and allowance for inflation as at December 2017. This update has been prepared in connection with the Dual Listing process as announced on 20 November 2017. This revised Crusader Ore Reserve estimate represents a production plan comprising 4.0Mtpa for a period of approximately 11 years. As recently announced (on 8 February 2018), the Company is also currently pursuing an optimisation of this production plan. This optimisation exercise is dependent on work that has not yet been completed to a sufficient level of confidence to include in the estimation of Ore Reserves and is referenced as future work for the project, in this statement. The Ore Reserve Estimate demonstrates that the Borberema Gold Project is an economically mineable project when applying the stated Ore Reserve modifying factors (See attached JORC Table‐1 Section 4). However, the Company intends to pursue the additional optimisation work in the near future to further enhance the technical and financial optimisation of Crusader’s 100% owned Borborema Gold Project based on processing 2Mtpa of an initial 20Mt of ore for an initial 10‐year period. The reporting criteria for the updated Ore Reserve along with a revised Section 4 of the JORC Table 1, are included. For the summary of material information used to estimate the Mineral Resources, a table of historic drilling results and diagrams please refer to the ASX release dated 24 July 2017. | |
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