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OreCorp Ltd.
Summary
| Project: | Nyanzaga | |
|---|---|---|
| Deposit: | Nyanzaga | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 8/10/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 10-8-2016: OreCorp Ltd. announces a Scoping Study report for its Nyanzaga deposit at the Nyanzaga project. Scoping study results incl. LOM average production expected to be 182Koz per annum over 13 years. OreCorp Limited (OreCorp or the Company) is please | |
| Resources: | (Resource, Total): 29.80Mt @ 3.49g/t Au for 3.344Moz Au contained at Nyanzaga | |
| CP/QP: | [Resources]: Malcolm Titley (CSA Global Pty Ltd.) | |
| ABSTRACT: | OreCorp Limited (OreCorp or the Company) is pleased to announce that the Scoping Study (or Study) for the Nyanzaga Gold Project (Nyanzaga or the Project) in Tanzania, has confirmed the outstanding potential of the Project. Board approves Pre‐Feasibility Study (PFS) to commence immediately. The Scoping Study, led by Lycopodium Minerals Pty Ltd (ASX: LYL; Lycopodium) of Perth, Western Australia, examined all facets of geology, mining, processing and supporting infrastructure at a US$1,250/oz gold price. The Study identified the opportunity to incorporate lower grade mineralisation not included in the JORC 2012 MRE released on 31 March 2016. This lower grade mineralisation is included in an updated MRE estimated at 29.8Mt at 3.5g/t gold for 3.3Moz gold, an increase of 566koz. The Study evaluated the technical and economic viability of both open pit (OP) and underground (UG) development scenarios. Processing options were considered in the context of various mining scenarios to optimise both throughput capacity utilisation and mineralised feed flexibility to enhance metallurgical outcomes. The current preferred development option is to initially develop Nyanzaga as a 4Mtpa OP operation (Phase 1), transitioning in year four into an OP/UG operation (Phase 2). The Project is expected to deliver average annual gold production of 182koz over a 13 year LOM, peaking at 246kozin year five and totalling ~2.4Moz over the LOM. The first five years of full production are expected to average ~220koz pa. The AISC is estimated to be US$798/oz over the LOM. | |
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