For thousands of other reports visit RSC's Mineral Intellingence Map
Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Carosue Dam | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-8-2018: Saracen Mineral Holdings Ltd. announces a Resource Estimation report for its Carosue Dam deposit at the Carosue Dam project. Annual statement of mineral resource and ore reserve estimate at Carouse dam. Saracen Mineral Holdings (ASX: SAR) is ple | |
| Resources: | (Reserve, P+P): 16Mt @ 2.3g/t Au for 1.2Moz Au contained at Carouse Dam | |
| CP/QP: | [Resources]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Mineral Holdings (ASX: SAR) is pleased to announce more strong progress in its strategy to grow mine life and production from organic sources, with Reserves rising by 20 per cent to a record 2.5Moz. The new Reserve underpins a mine life of at least seven years based on the mid-point of FY19 production guidance of 325-345,000oz. A total Resource of 8.6Moz, as well as significant exploration upside, highlights the potential to establish +10-year life. The updated Reserve and Resource estimates also support Saracen’s strategy to grow production to a base case of 350,000oz a year as part of its seven-year plan. Saracen Managing Director Raleigh Finlayson said the Reserve increase capped a run of strong progress for the Company on several fronts. “We have just posted record production of 316,453oz for the past financial year, which exceeded our guidance,” Mr Finlayson said. “And we increased our guidance for this financial year to 325,000-345,000oz. “Today’s Reserve increase shows we are on track to continue growing mine life and production from organic sources immediately adjacent to our mills and we are doing it at a cost of just A$25 per Reserve ounce. “With almost 9Moz in Resources and drilling generating strong results across our assets, we are confident of achieving our objective of becoming a 400,000ozpa gold producer with long mine life.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report