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OreCorp Ltd.
Summary
| Project: | Nyanzaga | |
|---|---|---|
| Deposit: | Nyanzaga | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 9/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 12-9-2017: OreCorp Ltd. announces a Resource Estimation report for its Nyanzaga deposit at the Nyanzaga project. Mineral resource update for the Nyanzaga project. OreCorp Limited (OreCorp or Company) is pleased to announce the updated JORC 2012 compliant | |
| Resources: | (Resource, Total): 23.70Mt @ 4.03g/t Au for 3.072Moz Au contained at project | |
| CP/QP: | [Resources]: Malcolm Titley (CSA Global Pty Ltd.) | |
| ABSTRACT: | OreCorp Limited (OreCorp or Company) is pleased to announce the updated JORC 2012 compliant Mineral Resource Estimate (MRE or Resource) for the Nyanzaga Gold Project (Nyanzaga or Project) in Tanzania of 23.7Mt at 4.03g/t for 3.07Moz gold. The MRE was updated by independent consultants CSA Global Pty Ltd (CSA) following completion of the 2016/2017 infill drilling program which aimed to lift the MRE categories and improve grade. The Resource replaces the previous MRE included within the 13 March 2017 Pre Feasibility Study (PFS) announcement. The updated MRE better defines the higher grade zones, linking gold mineralisation continuity based on nominal drill hole intercepts which exceed 2.0g/t gold over 3m downhole widths. Nine distinct high grade mineralised zones within the Nyanzaga deposit have been defined. This high grade mineralisation is supported by extensive interpretive geological and geostatistical work completed by OreCorp and CSA. The mineralised zones average 5m in true width, to a maximum of 20m true width; 600m in strike length and over 450m down dip. Several zones are still open at depth below 800m from surface and represent an excellent opportunity for future exploration upside. The distance between the high grade mineralisation varies laterally from 10 to 70m. On 22 September 2015, the Company announced that it had entered into a conditional, binding earn‐in and joint venture agreement (JVA) with Acacia Mining plc (Acacia) to earn up to a 51% interest in the Project in the Lake Victoria Goldfields of Tanzania (Figure 1). | |
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