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Emerald Resources NL
Summary
| Project: | Okvau | |
|---|---|---|
| Deposit: | Okvau | |
| Location: | Cambodia | |
| Commodities: | Gold | |
| Date: | 10/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 3-10-2018: Emerald Resources NL announces an Exploration/Drilling Update report for its Okvau deposit at the Okvau project. Drilling results incl. 10m @ 13.92g/t Au from 13m. Emerald Resources NL (ASX:EMR) (‘Emerald’) is pleased to provide initial results | |
| Resources: | (Reserve, Prob.): 14.26Mt @ 1.98g/t Au for 907Koz contained at Okvau | |
| CP/QP: | [Overall Report]: Keith King (Internal) | |
| ABSTRACT: | Emerald Resources NL (ASX:EMR) (‘Emerald’) is pleased to provide initial results from Phase 2 of the simulated grade control drilling program at the Okvau Gold Deposit. Emerald has embarked on the second phase of its previously announced simulated grade control drilling program. The program designed to further de-risk the development of the Okvau Gold Project consisted of a total of 368 shallow holes (~25m) drilled on a 10m by 10m spacing (refer Figure 1). The first phase of the drill program (152 collars) was completed in November 2017 and results were announced to the ASX on 27 December 2017 and 10 January 2018. The second phase of the program commenced in July 2018 and was completed mid-September. Currently 108 of the 216 drill collars from Phase 2 have assay results returned. Managing Director, Morgan Hart said: “The results to date strongly support the DFS Ore Reserve estimate in the area tested, particularly in respect to gold grade and add strongly to our confidence in our ability to reconcile reserve grade and ounces (during operations) with the intended mining equipment type, scale of operation and grade control methodology. The cost of the program will represent an operating cost saving.” He added “The Company’s financing discussions are progressing well and we look forward to updating shareholders with our proposed funding strategy in due course.” Emerald’s main focus is the exploration and development of its Cambodian Gold Projects which comprise of a combination of 100% owned granted licences, applications and earn-in & joint venture agreements covering a combined area of 1,442km2. The 100% owned Okvau Gold Project (‘Okvau Gold Project’) is the Company’s most advanced project which is located approximately 275 kilometres north-east of Cambodia’s capital city of Phnom Penh in the province of Mondulkiri (refer Figures One and Two). The town of Kratie is located on the Mekong River approximately 90 kilometres to the west and the capital of Mondulkiri, Saen Monorom is located approximately 60 kilometres to the south-east. In May 2017, Emerald completed a Definitive Feasibility Study (‘DFS’) on the development of the Okvau Gold Project which demonstrated a robust project producing approximately 106,000 ounces of gold per annum on average over 7 years from a single open pit. | |
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