OreCorp Limited (ASX: ORR) has identified significant life of mine extension opportunities at its Nyanzaga Gold Project in Tanzania since it completed its Definitive Feasibility Study (DFS) in August 2022.
Highlights
• Nyanzaga has a combined open pit and underground production target defined in the DFS of 42.51 Mt @ 2.07 g/t gold for 2.83 Moz1 contained gold providing a 10.7 year mine life
• OreCorp has identified opportunities to increase this 10.7 year mine life of Nyanzaga as follows:
• the company has generated an underground Exploration Target for Nyanzaga based on
drill results combined with extensive geological knowledge of the deposit; and
• a larger, stage 4 pit (8.4 Mt at 1.17g/t gold) has been identified applying a higher gold price.
“The company is excited by the life of mine extension opportunities, particularly the Exploration Target which highlights the depth extension of Nyanzaga and demonstrates the potential to extend the longevity of the mine well beyond the current 10.7 year mine life,” CEO and Managing Director, Matthew Yates, said.
“The Exploration Target is in addition to the robust DFS for Nyanzaga we announced in August, where we delivered a long-life asset with a production schedule of 242,000 ounces pa over the first 10 years at a very competitive All-In Sustaining Cost of US$954/oz. The system remains open at depth down plunge offering further potential for mineralised extensions of the deposit.”
A review of drilling at Nyanzaga has identified significant downhole intercepts below, and adjacent to, the combined open pit and underground production target defined in the DFS.
Utilising in-depth geological knowledge of the deposit and drill intercepts, OreCorp has generated an Exploration Target of approximately 4.0 Mt to 6.0 Mt at a grade range of approximately 3.4 g/t to 4.0 g/t gold2 below, and in addition to, the production target. Significant intercepts open below the production target include:
6m @ 6.28g/t gold from 674m 4m @ 7.11g/t gold from 679m 10m @ 6.91g/t gold from 766m 9m @ 6.82g/t gold from 801m 9m @ 8.21g/t gold from 809m 3m @ 4.35g/t gold from 910m 13m @ 3.19g/t gold from 712m 5m @ 5.03g/t gold form 718m
These downhole intercepts indicate the potential for extensions of mineralisation up to 200m down plunge below the current production target.
The company has also reviewed the Nyanzaga pit optimisations and identified opportunity for a fourth stage pit in a higher gold price environment. The pit shell contains an additional 8.4 Mt at 1.17g/t gold at an incremental 6.1:1 waste to ore strip ratio compared to the pit shell selected for the DFS pit design.
The Nyanzaga stage 4 material (8.4 Mt) and any potential extension of the underground mineralisation could have a significant positive impact on the life of the Project.
For further information please visit: https://www.orecorp.com.au/
