Name and Location
Manica gold project, Mozambique.

Client
Auroch Minerals.

Project Description
The proposed project will include two openpits, a shallow underground mine area to be accessed through adits and a 60 000 t/m processing plant, with supporting infrastructure and residue facilities.

The project is targeting the nonrefractory, relatively shallow ore.

Life-of-mine is currently expected to be less than ten years.

Value
Initial capital expenditure is estimated at $31.62-million.

Duration
Not stated.

Latest Developments
In early 2014, Auroch committed resources to a comprehensive review of the Fair Bride deposit, which is the largest orebody within the Manica project area. The new work included a new mineral resource estimate for Fair Bride and a comprehensive set of metallurgical tests on the fresh ore.

Both results were released to the market and form the basis of a scoping study on Fair Bride as a stand alone development.

The new mineral resource estimate includes a significant re-interpretation of the geological controls on mineralisation; along with this better understanding comes a significant increase in the global grade of the deposit to more than 3 g/t. The additional detail has significantly improved the ability to devise and manage a more selective mining strategy, which will predominantly be from an openpit before proceeding underground on the high-grade shoots.

The company is in the final stages of completing a scoping study for the development of the Fair Bride deposit as an opencut operation, which will progress towards an underground development through declines from the high-wall of the openpit. The results of the scoping study are expected to be released to the market early in the first quarter of 2015.

Key Contracts and Suppliers
JP Mining Consulting (scoping study), EnviroSig and SLR Consulting Africa (environmental-impact assessment) and Read Matomo (preliminary gold plant and infrastructure capital and working-cost estimates).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Auroch Minerals, tel +27 11 218 3856, fax +27 11 880 1270 or email admin@aurochminerals.com.