Nyanzaga Project

[OreCorp - 100%]

The Nyanzaga Project is a gold development project with considerable drilling and associated mining information comprising 22 Prospecting Licences and applications covering a combined area of 210km2 in northwest Tanzania in east Africa. A Special Mining Licence application has been lodged over the Nyanzaga Deposit and parts of the surrounding licences covering 23.4km2. The Project is situated approximately 60km southwest of Mwanza and 35km northeast of the Bulyanhulu gold mine.

The Project hosts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 23.7Mt @ 4.0g/t gold for 3.07Mozs using a 1.5g/t lower cut-off, in the Nyanzaga Deposit. A Pre-Feasibility Study has been completed and a Project Financing Definitive Feasibility Study has commenced.

OreCorp Limited – Nyanzaga Gold Deposit – Tanzania

Mineral Resource Estimate (MRE) as at 12 September, 2017

JORC 2012 Classification

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (Moz)

Measured

4.63

4.96

0.738

Indicated

16.17

3.80

1.977

Sub-Total M & I

20.80

4.06

2.715

Inferred

2.90

3.84

0.358

Total

23.70

4.03

3.072

Reported at a 1.5g/t gold cut-off grade. MRE defined by 3D wireframe interpretation with subcell block modelling. Gold grade for high grade portion estimated using Ordinary Kriging using a 10 x 10 x 10m estimation panel. Gold grade for lower grade sedimentary cycle hosted resources estimated using Uniform Conditioning using a 2.5 x 2.5 x 5m SMU. Totals may not add up due to appropriate rounding of the MRE.

The Project is situated in the Archaean greenstone in the Lake Victoria Goldfields and lies approximately 60km east of the Geita Gold Mine (AngloGold Ashanti) on a similar trend. The Nyanzaga Deposit offers scalability for both open pit and underground gold mining.

Nyanzaga Project Geology & Tenure

The Kilimani deposit is located approximately 450m to the northeast of the Nyanzaga deposit, lying beneath the lower southerly slopes of the Kilimani Ridge and covered by a veneer of shallow (1-5m thick), ferruginised talus. A maiden Inferred Mineral Resource Estimate (MRE), classified and reported in accordance with the JORC Code (2012 Edition) was completed in 2020. The Kilimani MRE is 5.64Mt @ 1.21g/t Au for 220Kozs of gold and is in addition to the Nyanzaga deposit.


In addition, the Project offers a suite of priority and regional exploration prospects within a 13km radius of the Nyanzaga deposit.

Nyanzaga Project