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Emerald Resources NL
Summary
| Project: | Okvau | |
|---|---|---|
| Deposit: | Okvau | |
| Location: | Cambodia | |
| Commodities: | Gold | |
| Date: | 10/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2016: Emerald Resources NL announces an Exploration/Drilling Update report for its Okvau deposit at the Okvau project. Drilling results incl. 31m @ 3.11g/t Au from 81m. Emerald Resources Limited (ASX: EMR) (‘Emerald’) is pleased to provide an update | |
| Resources: | (Resource, Ind. + Inf.): 15.84Mt @ 2.22g/t Au for 1.131Moz Au contained (0.6g/t Au cut-off) | |
| CP/QP: | [Overall Report]: Craig Johnson (Internal) | |
| ABSTRACT: | Emerald Resources Limited (ASX: EMR) (‘Emerald’) is pleased to provide an update on its Cambodian Gold Project, including the status of the Definitive Feasibility Study (‘DFS’) and results received to date from shallow resource drilling at the 1.13Moz Okvau Deposit (refer Table Three). Emerald is in the process of completing its merger with Renaissance Minerals Ltd (‘Renaissance’) where shareholders representing 96% of the Renaissance shares outstanding accepted Emerald’s offer. Emerald is in the process of compulsorily acquiring the remainder. Following this merger, Emerald will have 100% ownership of the Cambodian Gold Project which includes the Okvau Deposit. Emerald is completing a DFS on the development of the Okvau Deposit following on from Renaissance’s positive PFS completed in August 2015. A resource infill program has recently been completed with assay results received for approximately two thirds of the program. Drilling attention is now focused on step-out drilling to test for strike and dip extensions outside the current Okvau resource envelope. All other aspects of the DFS are progressing on schedule for completion in early 2017. In particular a final metallurgical test work program is underway to optimize the flowsheet proposed in the Renaissance PFS which is expected to be completed by end of the year. The ESIA is expected to be submitted to the Ministry of Environment in the next few weeks which follows from extensive community consultation at both local and provincial levels. | |
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