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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Rietfontein | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 2/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-2-2017: Stonewall Resources Ltd. announces a Scoping Study report for its Rietfontein deposit at the TGME project. Scoping study results incl. pre-tax NPV (10%) of $114M, IRR of 83%, LOM of 9 years. The Board of Stonewall Resources Limited (ASX: SWJ) ( | |
| Resources: | (Resource, M+I): 720kt @ 10.06g/t Au for 233000oz Au contained at project | |
| CP/QP: | [Overall Report]: Uwe Engelmann (Minxcon Projects (Pty) Ltd. Consulting (Pty) Ltd.) | |
| ABSTRACT: | The Board of Stonewall Resources Limited (ASX: SWJ) (“Stonewall or Company”) is pleased to announce the Scoping Study results for its fully permitted Rietfontein high-grade, hard-rock development. The Scoping Study was delivered by South African mining engineering consultants Bara Consulting (Pty) Ltd (“Bara”) following geological and Mineral Resource assessments by South African geological consultants Minxcon, conducted in accordance with the JORC (2012) Reporting Code, as announced on the 7 February, 2017. Rietfontein contains a JORC resource of 2.55Mt @ 11g/t for 905koz (Indicated & Inferred). Rietfontein is the first Scoping Study to be reported of the three areas of potential mine development currently under scoping-level investigation by Minxcon and Bara. Results from Beta hard-rock and the PMR project work will be progressively announced as the work is completed in coming months. The results of the Rietfontein study suggest a base-case pre-tax NPV of US$114M, and C1 cost of US$417/oz is achievable, and importantly provides strong encouragement for the Company to commit to the next stage of its Rietfontein resource upgrade, exploration and development program, as well as to commence the Preliminary Feasibility Study (PFS) phase, including the declaration of ore reserves. | |
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