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OreCorp is listed on the ASX (Code: ORR)

ORR: $ 0.85   - 10.050%

Updated 17/06/2021 at 5:53PM AEST

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OreCorp Limited (OreCorp or the Company) is a development and exploration company listed on the Australian Securities Exchange (ASX) under the code ORR. OreCorp's key projects are the Nyanzaga Gold Project (Nyanzaga or Project) in northwest Tanzania and the Yarri (including the Hobbes Prospect), Yundamindra, Ponton and Kalgoorlie Projects in the Eastern Goldfields of Western Australia (WA). OreCorp is seeking a Joint Venture partner for the Akjoujt South nickel-copper-cobalt Project in Mauritania. The Company is well funded with no debt and is looking to expand its footprint in WA.

OreCorp owns 100% of the Nyanzaga Project through its wholly owned subsidiary companies. Nyanzaga hosts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 23.7Mt @ 4.0g/t gold for 3.07Mozs using a 1.5g/t lower cut-off. A Pre-Feasibility Study has been completed and confirmed the significant potential of the Project. The Project Financing Definitive Feasibility Study (DFS) has commenced.

OreCorp Limited – Nyanzaga Gold Deposit – Tanzania

Mineral Resource Estimate (MRE) as at 12 September, 2017

JORC 2012 Classification

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (Moz)

Measured

4.63

4.96

0.738

Indicated

16.17

3.80

1.977

Sub-Total M & I

20.80

4.06

2.715

Inferred

2.90

3.84

0.358

Total

23.70

4.03

3.072

Reported at a 1.5g/t gold cut-off grade. MRE defined by 3D wireframe interpretation with subcell block modelling. Gold grade for high grade portion estimated using Ordinary Kriging using a 10 x 10 x 10m estimation panel. Gold grade for lower grade sedimentary cycle hosted resources estimated using Uniform Conditioning using a 2.5 x 2.5 x 5m SMU. Totals may not add up due to appropriate rounding of the MRE.

Nyanzaga Project Highlights

  • Forecast life of mine (LOM) average gold production of 213koz per annum over 12 years
  • The PFS determined that a concurrent open pit (OP) and underground (UG) mine schedule represents the optimum mining sequence
  • The OP will deliver the base load of mineralised material over the LOM and is expected to deliver approximately 1.75Moz of contained gold over its 12 year mine life
  • UG mining will commence in Year 1, from a box cut external to the OP, and is expected to produce approximately 1.16Moz (including UG development material) of contained gold. The UG will be developed to a depth of 800m below surface, with the deposit remaining open at depth
  • Detailed metallurgical test work in the PFS has confirmed gold recovery of 88% through a conventional 4Mtpa Carbon in Leach (CIL) processing plant, an increase of 3% over the Scoping Study
  • Competitive cost position with a forecast All-in Sustaining Cost (AISC) of US$838/oz and All-in-Cost (AIC) of US$858/oz over the LOM
  • Pre-production capital cost of US$287M includes OP pre-strip, plant (including first fill inventory), all associated project infrastructure expected and a US$33M contingency
  • 88% of the MRE is in the Measured and Indicated categories. It is anticipated that a maiden Ore Reserve for Nyanzaga will be prepared as part of the Project Financing DFS
  • The PFS has been based on a US$1,250/oz gold price

Note: Figures stated above do not include the legislative changes of July 2017 and Regulations of January 2018

Compliance Statements »

Forward Looking Statements »