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Orca Gold Inc.
Summary
| Project: | Block 14 | |
|---|---|---|
| Deposit: | Block 14 | |
| Location: | Sudan | |
| Commodities: | Gold-Silver | |
| Date: | 11/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-11-2018: Orca Gold Inc. announces a Feasibility Study report for its Block 14 deposit at the Block 14 project. Feasibility Study results incl. pre-tax NPV of US $484M, IRR of 28.0%, Initial ore reserve. Thisreport comprises a Feasibility Study (FS) of O | |
| Resources: | (Reserve, Prob.): 79.943Mt @ 1.11g/t Au | |
| CP/QP: | [Overall Report]: Geoff Duckworth (Lycopodium Minerals Pty Ltd.) | |
| ABSTRACT: | Thisreport comprises a Feasibility Study (FS) of Orca Gold’s Block 14 Project (Project) located in Sudan. The FS has been prepared by Lycopodium Minerals Pty Ltd (Lycopodium) on behalf of Orca Gold Inc. (Company). This Technical Report conforms to National Instrument 43‐101 Standards of Disclosure for Mineral Projects (NI 43‐101). 1.2 Reliance on Other Experts The author of this report is not qualified to provide comment on the legal issues associated with the Project, including any agreements, joint venture terms and the legal status of the exploration permits and mining tenure included in the Project. Lycopodium has relied on the advice of other experts in the preparation of this report. 1.3 Property Description and Ownership 1.3.1 Property Description The Block 14 mineral exploration project covers an area of 2,170 km2 , located in the Nubian Desert in the north of the Republic of the Sudan, close to the international border with Egypt. The property is situated 700 km north of the national capital Khartoum and straddles the boundary between the Red Sea and Nile States. The nearest population centre is the town of Abu Hamad, located 180 km due south of the property. 1.3.2 Ownership The Exclusive Prospecting License (EPL) for Block 14 was originally granted to Meyas Nub under a Concession Agreement dated 19 May 2010. A purchase agreement dated 1 March 2012 (the “Purchase Agreement”), granted Sand Metals Company Ltd (SMCL), a wholly owned subsidiary of Orca, the right to acquire a 70% interest in Meyas Sand Mineral Company Ltd (MSMCL), a Sudanese joint venture company incorporated to hold the Block 14 EPL. Under the terms of the Purchase Agreement, SMCL have paid Meyas Nub US$9.5M and own 70% of MSMCL | |
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