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OreCorp Ltd.
Summary
| Project: | Nyanzaga | |
|---|---|---|
| Deposit: | Bululu | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 12/16/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 16-12-2016: OreCorp Ltd. announces an Exploration/Drilling Update report for its Bululu deposit at the Nyanzaga project. Drilling results incl. 16m @ 2.84g/t Au from 48m. OreCorp Limited (OreCorp or the Company) is pleased to announce the results from the | |
| Resources: | (Resource, Total): 3.3Moz Au at a 3.5g/t Au grade | |
| CP/QP: | [Overall Report]: Matthew Yates (Internal) | |
| ABSTRACT: | OreCorp Limited (OreCorp or the Company) is pleased to announce the results from the reconnaissance aircore and reverse circulation drilling program completed at Bululu Prospect within the Nyanzaga Project (Nyanzaga or Project) in northwest Tanzania. Bululu is a regional prospect located six kilometres from the Nyanzaga Deposit which hosts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 3.3Mozs of gold at 3.5g/t gold (refer ASX release 10 August 2016). Significant gold mineralisation has been intersected at shallow depths over broad widths. The drilling was designed to test the down-dip and along strike extensions of mineralisation identified in historical diamond drilling. These exciting new results are a very encouraging start to testing a suite of exploration targets that have been enhanced and refined by OreCorp since the commencement of the joint venture (JV) with Acacia Mining Plc (Acacia). OreCorp has always recognised the wider potential of the Nyanzaga Project. The results confirm there is potential at the Bululu Prospect, and will be followed up with a further program in 2017. In addition, the Company is currently awaiting the results of a regional soil sampling program, which will be integrated with the aeromagnetics to delineate further targets for drill testing within the Project area. | |
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