In FY2018, the Group completed the feasibility study of a 1,500 tpd production plant and the Independent Qualified Person’s Report (“IQPR”), including the estimation of mineral resources and ore reserves at its Ciemas Gold Project.
The Group’s independent consultant, SRK Consulting (China) Ltd. (“SRK”), has estimated approximately 3,260 kt of ore reserves with an average grade of approximately 7.7 g/t of gold (in accordance with the JORC Code 2012 Edition) as shown in Table A.
This further validates the significant ore reserves offered by the Ciemas Gold Project, particularly in the four prospects at Pasir Manggu West, Cikadu, Sekolah, and Cibatu:
Table A : Summary of ore reserves as at 30 June 2018
| Section |
Category |
Reserve |
Grade |
Gold |
|
(kt) |
(g/t Au) |
(kg) |
||
| Cikadu |
Probable |
986 |
8.0 |
7,849 |
| Sekolah |
Probable |
679 |
8.1 |
5,511 |
| Cibatu |
Probable |
1,008 |
7.9 |
7,945 |
| Pasir Manggu West |
Probable |
587 |
6.6 |
3,898 |
| Total |
3,260 |
7.7 |
25,203 |
kt – 1,000 tonnes
g/t Au – grams of gold per tonne of ore
Note:
- The information in the IQPR which relates to ore reserve conversion is based on information compiled by Mr Falong Hu (“Mr Hu”), MAusIMM, and Mr Qiuji Huang (“Mr Huang”), FAusIMM, employees of SRK Consulting (China) Ltd. Both Mr Huang and Mr Hu have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Persons as defined in the JORC Code 2012 Edition. Mr Huang supervised the work of Mr Hu. Mr Huang and Mr Hu consent to the reporting of this information in the form and context in which it appears.
