| Announcement Date: | 2022-08-22 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | JORC |
| Company name: | OreCorp Ltd. |
| Project name: | Nyanzaga |
| Location: | Tanzania |
| Commodities: | Gold |
| Highlight: | Feasibility Study result incl. Post Tax NPV (5%) of USD $618M & IRR of % |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | OreCorp Limited (OreCorp or the Company) is delighted to announce the Definitive Feasibility Study (DFS or Study) for the Nyanzaga Gold Project (Nyanzaga or the Project) in Tanzania has confirmed a project with robust economics. Nyanzaga’s DFS, led by experienced global engineering firm Lycopodium Minerals Pty Ltd, a subsidiary of Lycopodium Limited (ASX: LYL), detailed all facets of geology, mining, processing, supporting infrastructure and Project execution to a nominal accuracy of ±15%. The DFS evaluated the technical and economic viability of various open pit and underground development scenarios and was optimised considering mining, processing and economic factors. The study delivered an optimal development scenario of 4 Mtpa with concurrent development of both the open pit and underground operations. The Project is expected to deliver average gold production of 234 koz pa over a 10.7 year LOM, with >242 koz pa (average) for the first 10 years peaking at 295 koz pa in Year 6 delivering a total of approximately 2.5 Moz of gold produced over the LOM. The AISC is estimated to be US$954/oz over the LOM |
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