https://www.engineeringnews.co.za

Mozambique gold project advancing – Auroch

24th May 2013

By: Martin Creamer

Creamer Media Editor

  

Font size: - +

The Manica gold project, in Mozambique, which has a three-million-ounce Joint Ore Reserves Committee-compliant resource, is firming up historical data and identifying additional ounces.

ASX-listed Auroch Minerals, which in January raised $3- million to augment its cash of $5.3-million, is carrying out exploration drilling within the Odzi-Mutare-Manica greenstone belt in central Mozambique, on the corridor that links Beira to Zimbabwe.

“Capital is limited so you have to be very careful. We keep our overheads exceptionally tight and invest as much money in the ground, on drilling, as we can,” Auroch MD Dean Cunningham told Mining Weekly.

The former gold analyst and investment banker reported that interpretation of the latest information was under way, following the completion of an electromagnetic survey across the entire property.

The project, 4 km from the town of Manica, is close to power lines and roads and has access to mining-related migrant labour and semiskilled labour that serviced neighbouring Zimbabwe and South Africa.

The company has completed 7 400 m of diamond drilling and defined the project into a number of sectors, with the Guy Fawkes sector the current focus.

Information received when the project was acquired from the JSE-listed Pan African Resources showed historical grades of 2 g/t to 7 g/t.

The company is working on a long-term gold price of $1 200/oz and foresees a number of openpittable opportunities in the mining of near-surface gold.

Two contractors are in place to bring down mining and processing costs.

Of the 81 employees, 71 are Mozambicans.

Auroch has spent more than $2.5-million since January, on top of $19-million spent earlier by Pan African, which remains a significant share- holder.

With small the new beautiful in gold mining, Cunningham sees Auroch as being in a good space on a go-forward basis.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.043 1.065s - 122pq - 2rq
Subscribe Now