Crusader targets at least 1Moz gold resource in Brazil
miningweekly.com
By: Esmarie Swanepoel
25th August 2010
PERTH (miningweekly.com) – ASX-listed gold explorer Crusader Resources has declared a maiden Joint Ore Reserves Committee (Jorc) resource of 728 000 oz for its Borborema gold project, in Brazil.
The project is estimated to host 13,88-million tons of ore, grading at 1,63 g/t.
MD Rob Smakman said on Wednesday that the mineral resource validated Crusader’s decision to acquire the project, and showed the potential to significantly improve the size of the resource.
“We have a goal of increasing the resource to greater than one-million ounces, which could support a 100 000-oz/y production rate.”
Smakman added that the project was “fantastically” situated for development, as it was located on a sealed highway, had access to water and power, and only had 140 km from the coast and the state capital.
Crusader recently bought the Borborema property from a group of private investors, following a six-months due-diligence period.
The project includes the freehold title over the project, mine buildings and the mineral rights over three granted mining leases.
Smakman said that the company would now look to start drilling the next phase of the project, and was hoping to deliver a resource expansion, leading to a scoping study to define the route to project development. |
