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Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Karari | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-8-2017: Saracen Mineral Holdings Ltd. announces a Resource Estimation report for its Karari deposit at the Carosue Dam project. Mineral Reserve update at Karari Underground. Saracen Mineral Holdings (ASX: SAR) is pleased to announce that its aggressive | |
| Resources: | (Reserve, Prob.): 4.73Mt @ 3.1g/t Au for 465koz Au contained at Karari Underground | |
| CP/QP: | [Resources]: Daniel Howe, Lynn Widenbar (Internal) | |
| ABSTRACT: | Saracen Mineral Holdings (ASX: SAR) is pleased to announce that its aggressive exploration campaign of the past year has paid strong dividends, resulting in record Mineral Resources and Ore Reserves. The results show Saracen has a mine life of at least seven years based on its updated Reserve of 2.1Moz and current production rate of ~300,000oz pa. A total Resource of 9Moz, as well as significant exploration upside, highlights the potential to establish +10 year life. Saracen Managing Director Raleigh Finlayson said the latest results showed the Company could support its expanded production rate of 300,000ozpa for many years to come. “Karari is rapidly proving to be one of Australia’s fastest growing mines,” Mr Finlayson said. “After ramping up production to more than 100,000ozpa, we have now almost quadrupled the Reserves after accounting for depletion. “At Thunderbox, we have delivered a maiden Reserve for what is shaping up to be one of Australia’s larger and more productive underground mines. “The results show that last year’s record exploration budget was money well spent, supporting the Company’s strategy to grow production and mine life at its existing assets. The AMC PFS focused on the assessment of an appropriate mining method, based on orebody geometry, grade and geotechnical parameters. It determined that a combination of two mining methods, sub-level caving (SLC) and sub-level open stoping (SLOS), will be suitable for different sections of the large orebody. Both methods combine high productivity and low costs. SLC and SLOS are commonly employed in the Australian underground gold mining industry. | |
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