JOHANNESBURG (miningweekly.com) - A revised ore reserve estimate at Crusader Resources' Borborema gold project, in the Seridó area of the Borborema province, in north-eastern Brazil, represents a production plan comprising four-million tonnes a year for 11 years life-of-mine.
The ASX-listed company said that it was also currently pursuing an optimisation of the production plan at its 100%-owned project, which consists of three mining leases covering a total area of 29 km² including freehold title over the main prospect area.
"This optimisation exercise is dependent on work that has not yet been completed to a sufficient level of confidence to include in the estimation of ore reserves and is referenced as future work for the project," the company said in a statement.
The ore reserve estimate demonstrated that Borberema was an economically mineable project when applying the stated ore reserve modifying factors. However, the company intends to pursue the additional optimisation work in the near future to further enhance the technical and financial optimisation.
This was based on processing two-million tonnes a year of an initial 20-million tonnes a year of ore for an initial ten-year period.