Latest News

  • 13/09/2016 - Annual Financial Report 2016 more …
  • 10/08/2016 - Scoping Study Confirms Outstanding Potential of Nyanzaga Project & Delivers MRE Upgrade more …
  • 2/08/2016 - Significant Nickel-Copper Drill Intercepts from Akjoujt South Project, Mauritania more …
  • 26/07/2016 - June 2016 Quarterly Reports more …

Latest Investor Presentation

  • 5/09/2016 - Investor Presentation more …

Current Share Price

OreCorp is listed on the ASX (Code: ORR)

ORR: $ 0.52   - 2.800%

Updated 30/09/2016 at 4:15PM AEST

ORR share price chart

OreCorp Limited (OreCorp or the Company) is a development company listed on the Australian Securities Exchange (ASX) under the code ORR. OreCorp's key projects are the Nyanzaga Gold Project in northwest Tanzania and the Akjoujt South Nickel-Copper Project in Mauritania. The Company is well funded with no debt.

The Company has a joint venture agreement with Acacia Mining plc to earn up to a 51% interest in the Nyanzaga Gold Project (Nyanzaga or the Project) in the Lake Victoria Goldfields of Tanzania (LVG). The Project hosts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 29.8Mt @ 3.5g/t gold for 3.34Mozs using a 1.5g/t lower cut-off, in the Nyanzaga Deposit. A Scoping Study has recently been completed and confirmed the outstanding potential of the Project. The Board has approved the commencement of the Pre-Feasibility Study.

OreCorp Limited – Nyanzaga Gold Project – Tanzania

Mineral Resource Estimate (MRE) as at 10 August, 2016

JORC 2012 Classification

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (Moz)

Measured

2.93

3.77

0.356

Indicated

21.77

3.45

2.416

Sub-Total M & I

24.70

3.49

2.772

Inferred

5.10

3.49

0.572

Total

29.80

3.49

3.344

Reported at a 1.5g/t gold cut-off grade. MRE defined by 3D wireframe interpretation with subcell block modelling. Gold grade estimated using Ordinary Kriging using a 10 x 10 x 10m estimation panel and Uniform Conditioning followed by Localisation to simulate 2.5 x 2.5 x 5m selectivity. Totals may not add up due to appropriate rounding of the MRE

Nyanzaga Project Highlights

  • Study indicates outstanding potential, expected to deliver a project with average gold production of 220koz per annum for the first five years of full production
  • Life of mine (LOM) average production is expected to be 182koz per annum over 13 years for a total of ~2.4Moz
  • Average Cash Cost estimated to be US$756/oz and All-in Sustaining Cost (AISC) of US$798/oz over LOM
  • Pre-production capital costs including all associated project infrastructure expected to be $248M (inclusive of contingency)
  • Updated MRE of 29.8Mt @ 3.5g/t gold for 3.3Moz gold, an increase of 566koz (~19%) compared to the Maiden JORC 2012 MRE released 31 March 2016
  • The MRE averages approximately 4,200 ounces per vertical metre
  • An initial open pit mine is expected to deliver approximately 1.2Moz of gold over its five year mine life
  • A transition to an underground mine from year four onwards at a steady state of 1.1Mtpa, for a total period of nine years is expected to deliver a further 1.2Moz of gold
  • Average LOM open pit strip ratio (unmineralised:mineralised) of 2.5:1 (based on low grade mineralised material included in mineralised material)
  • Base Case 4Mtpa Carbon in Leach (CIL) processing plant with gold recoveries forecast to average ~85% over the LOM
  • Scoping Study optimised at US$1,250/oz gold price

 

Pursuant to the requirements of ASX Listing Rule 5.8 and the JORC Code, OreCorp provides the following compliance statement:

The information in this website relating to the Nyanzaga Project is extracted from the following original ASX Announcements dated; 10 August 2016 titled ‘Scoping Study Confirms Outstanding Potential of Nyanzaga Project & Delivers MRE Upgrade’, and 22 September 2015 titled ‘OreCorp enters into JV with Acacia Mining for the Advanced Nyanzaga Gold Project in Tanzania’ which are available to view on this website.

The information in this website relating to the Akjoujt South Project is extracted from the following original ASX Announcements dated; 2 August 2016 titled ‘Significant Nickel-Copper Drill Intercepts from Akjoujt South Project, Mauritania’, and 1 July 2016 titled ‘Drilling Update and Ground Magnetic Anomalies Identified’ which are available to view on the Company’s website.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX Announcements referred to above, and in the case of (i) Mineral Resources, (ii) Metallurgical Test Work and Results, and (iii) Exploration Results in relation to the Nyanzaga Project in Tanzania and the Akjoujt Project in Mauritania (Project Results), that all material assumptions and technical parameters underpinning the Project Results in the relevant ASX Announcements referred to above continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original ASX Announcements referred to above.

 Forward Looking Statements »