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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Dalgaranga | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-11-2016: Gascoyne Resources Ltd. announces a Feasibility Study report for its Dalgaranga deposit at the Dalgaranga project. Pre-tax NPV: Au$177m - IRR 65%. Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX:GCY) is pleased to announce the comple | |
| Resources: | (Resource, Total): 25.7Mt @ 1.4g/t Au for 1.116Moz Au contained at Dalgaranga | |
| CP/QP: | [Overall Report]: Mike Dunbar, Karl Van Olden (Internal;CSA Global Pty Ltd.) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX:GCY) is pleased to announce the completion of the Feasibility Study for the Company’s 80% owned Dalgaranga Gold Project in the Murchison region of Western Australia. The Dalgaranga Gold Project contains a Measured, Indicated and Inferred Resource of 25.7 Mt @ 1.4 g/t gold for 1.12Moz of contained gold (see Figure 1&2). The Dalgaranga Gold Project is located in the Dalgaranga Greenstone Belt in the Murchison Province of Western Australia. The Project is located approximately 65km by road North West of the town of Mt Magnet in the Murchison gold mining region and covers the majority of the Dalgaranga greenstone belt. After discovery in the early 1990’s, exploration and development resulted in a profitable gold mining operation from between 1996 to 2000 producing some 229,000 oz’s of gold. Gascoyne Resources Limited (Gascoyne) completed the 80% acquisition of the Dalgaranga Project and associated joint venture agreements with Mr Jaime McDowell and Murchison Gold Mines Pty Ltd on the 7th of February 2013 with Gascoyne the Manager of the joint ventures. The minor JV partners are “free carried” to completion of a FS, at which point they must elect to either contribute to further capital and operating costs or revert to a 2% NSR royalty. Gascoyne is currently in discussions to move to 100% ownership of the Mining Lease, which hosts the entire current resource base. In 2014 Mining Lease M59/749 was granted; the rest of the tenement group are granted exploration licences. Gascoyne has been conducting exploration programs for the last 3 years culminating in significant resource upgrades during the period and now the completion of a Feasibility Study. The Gilbeys and Golden Wings deposits are situated on Mining Lease M59/749. The planned infrastructure for the Project will be sited on the Mining Lease and adjoining granted Miscellaneous Licences. | |
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