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Dunrobin gold project, Zambia

22nd November 2013

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

  

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Name and Location
Dunrobin gold project, Zambia.

Client
Luiri Gold.

Project Description
An independent feasibility study has confirmed Luiri Gold’s internal studies that the Dunrobin project is a technically feasible and economically viable project in the current gold price environment.

Gold production is forecast at 77 000 oz, supported by a probable ore reserve of 87 000 oz over a six-year mine life.

Phase 1 of the project includes the development of the Dunrobin openpit and processing plant.

Phase 2 includes the possibility of constructing a moderate scale openpit mine at Matala followed by deeper extraction of ore from underground. In addition, the advanced targets, Chosa and Shadreck, which are in close proximity to Dunrobin, will be further investigated for near surface ore that could be easily mined to extend gold production for several years.

Although no studies have yet been commissioned, an underground mining operation at Dunrobin may be possible, which will extract additional tonnage from the Joint Ore Reserves Committee-compliant indicated and inferred resources situated below the current proposed pit shell. All of these development opportunities could add significantly to the life of the Dunrobin plant and the yearly production levels.

Further exploration of the licence area is also warranted, as there are many indicators of targets highly prospective for gold and copper that have not been explored with modern techniques.

Value
Initial capital expenditure is estimated at $21-million.

Duration
Not stated.

Latest Developments
The independent study will immediately be lodged with potential debt financiers to advance debt negotiations.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Luiri Gold, tel +61 8 6313 5155, fax +61 8 9324 2977 or email info@luirigold.com.

Edited by Creamer Media Reporter

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