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Crusader resources Ltd.
Summary
| Project: | Borborema | |
|---|---|---|
| Deposit: | Borborema | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 2/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Mine Development | |
| Report details: | 8-2-2018: Crusader resources Ltd. announces a Optimisation Study report for its Borborema deposit at the Borborema project. Optimisation Study gives NPV (8%) of US$117.8M, IRR of 31%. Crusader Resources (ASX:CAS) (“Crusader”) is pleased to announce the up | |
| Resources: | (Reserve, P+P): 42.41Mt @ 1.18g/t Au for 1.61Moz Au contained at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Crusader Resources (ASX:CAS) (“Crusader”) is pleased to announce the updated results of the ongoing technical and financial optimisation of its 100% owned Borborema Gold Project located in the state of Rio Grande do Norte in North Eastern Brazil. Commenting on the results of the updated economics for the Borborema Gold Project, Crusader Managing Director Marcus Engelbrecht said: “The technical and financial review of our Borborema Gold Project has demonstrated the robust economics of the project and the potential to develop and operate a long life gold mine. Our model supports development of an open pit mine with a low stripping ratio from surface and a conventional processing facility in a prospective and mine friendly district. Based on these results and subject to funding, we intend to finalise a bankable feasibility study of the project during the year. I look forward to updating you on progress.” The optimisation update is based on processing 2Mtpa of an initial 20Mt of ore for an initial 10 year period. The initial development exploits the upper lens of the Borborema deposit, approximately half of the current ore reserve of 42Mt @ 1.18g/t. The initial 20Mt of ore optimises the project at current gold prices, minimises waste movement, capital expenditure and operational risks and does not prevent the future development of the deeper reserves. | |
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