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WPG Resources Ltd.
Summary
| Project: | Tarcoola | |
|---|---|---|
| Deposit: | Tarcoola | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 1-9-2016: WPG Resources Ltd. announces a Feasibility Study report for its Tarcoola deposit at the Tarcoola project. Updated DFS results incl. pre-tax NPV (7.5%) of $39.6M, 2 year LOM, updated ore reserves. WPG Resources Ltd (ASX: WPG, WPGO) is pleased to | |
| Resources: | (Reserve, Prob.) 710000t @ 3.1g/t Au for 71000oz Au contained at project | |
| CP/QP: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | WPG Resources Ltd (ASX: WPG, WPGO) is pleased to announce the results of its updated Definitive Feasibility Study for the development of the Tarcoola gold project in South Australia, prepared on the premise that the ore will be trucked to Challenger for treatment at the CIP plant there. In addition, the Company has updated its Ore Reserve estimate for Tarcoola, prepared under these assumptions and reported in accordance with JORC (2012) guidelines. The Feasibility Study indicates substantially enhanced economic outcomes over the original heap leach option announced to the market on 25 September 2015. The project remains a small to medium sized open pit gold mine, but now with a much smaller footprint as there will be no leach pads or gold recovery circuit on site. The ore will be hauled to Challenger, 165km away, for treatment, supported by substantially reduced on and off-site services and infrastructure. Treatment through the Challenger CIP plant results in substantially increased gold recovery, now estimated to be 95%, up from the 81% for the original heap leach option. The Ore Reserve estimate, based on the mine design completed by independent mining engineering consultants Australian Mine Design and Development Pty Ltd for inclusion in the Tarcoola gold project Feasibility Study, is a total of 710,000 tonnes at 3.1 g/t gold containing 71,000 ounces and was prepared and reported in accordance with JORC (2012) guidelines. | |
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