Auroch starts Manica gold project DFS
JOHANNESBURG (miningweekly.com) – ASX-listed Auroch Minerals on Wednesday said it had embarked on a definitive feasibility study (DFS) after a new scoping study confirmed the technical and commercial viability of the Manica gold project.
The scoping study, completed by JP Mining Consulting, on the existing nonrefractory and transitional resources, revealed the potential of the 40 000 oz/y gold mine to provide near-term cash flow for the Mozambique-focused explorer.
The company approved a “near-term route to production” after the scoping study confirmed an estimated production of 273 469 oz of gold over an operating life-of-mine of seven years, with a 60 000 t/m, or 720 000 t/y, centralised processing plant.
Auroch said that, while the Manica gold project had potential for further exploration upside, the focus would be on the generation of cash flow to fund future exploration activities.
“The development of Manica will give us a first-mover advantage and allow us to accelerate our consolidation strategy in the area, giving the company momentum and critical mass,” MD Dean Cunningham said.
The DFS would focus on the existing free-milling, non-refractory and transitional resources within the Fair Bride and Dot's Luck deposits, which showed the potential for simple shell openpit operations, and Guy Fawkes deposit, which could become a shallow-depth underground open-stoping operation.
The DFS would see the gold explorer complete a $360 000 infill drilling programme at the Guy Fawkes and Dot’s Luck deposits to upgrade the confidence categories of existing resources and undertake metallurgical testwork at the Fair Bride, Guy Fawkes and Dot’s Luck deposits to confirm the amenability of the non-refractory resources to traditional carbon-in-leach processing.
Auroch would also move to complete the environmental licence requirements by finalising the environmental impact assessment and its land-use licence for the Manica project.
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