OreCorp Limited (OreCorp or the Company) is pleased to announce the results of preliminary metallurgical testwork for both oxide and primary gold mineralisation from the Hobbes Gold Prospect (Hobbes), within the Company's Yarri Project area in the Eastern Goldfields.
The testwork highlight was the combined gravity and cyanidable gold recovery results of 97% and 89% recovery for oxide and primary gold mineralisation, respectively.
The testwork was undertaken by ALS Metallurgy in Perth to establish preliminary key process parameters and included: Comminution testwork; Head assays; Mineralogical analysis by Xray Diffraction (XRD) method; Grind establishment; Knelson gravity separation and mercury amalgamation and Direct cyanidation.
Samples for the testwork were selected from historical diamond drill core hole NDH002, with one composite created for the oxide gold mineralisation (NHD002 Oxide #1) and a second composite for the primary gold mineralisation (NHD002 Primary #2). Both samples are considered representative of the mineralised zone being tested.
ABOUT ORECORP LIMITED
OreCorp Limited is a Western Australian based mineral company with gold and base metal projects in Tanzania, Western Australia and Mauritania. OreCorp is listed on the Australian Securities Exchange (ASX) under the code 'ORR'. The Company is well funded with no debt. OreCorp's key projects are the Nyanzaga Gold Project in northwest Tanzania and the Yundamindra, Yarri (including Hobbes), Kalgoorlie (including Ringlock Dam) and Ponton Projects in the Eastern Goldfields of WA. OreCorp is seeking a joint venture partner for the Akjoujt South Nickel-Copper-Cobalt Project in Mauritania and has an active project acquisition program.
JORC 2012 Competent Persons Statements
The information in this release that relates to new 'Exploration Results' for the Hobbes Prospect within the Yarri Project is is based on and fairly represents information and supporting documentation prepared by Mr Henk Diederichs, a competent person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Diederichs is an employee and beneficial shareholder of OreCorp. Mr Diederichs has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Diederichs consents to the inclusion in this release of the new Exploration Results for the Hobbes Prospect in the form and context in which they appear. The information in this release relating to previous 'Exploration Results' in relation to the Yarri Project is extracted from the ASX announcements (Original Yarri Announcements) dated 30 April 2021 ('March 2021 Quarterly Reports'), 8 March 2021 ('Hobbes First RC Drilling Results'), 5 February 2021 ('Hobbes First RC Drilling Results'), 29 January 2021 ('December 2020 Quarterly Reports'), 21 September 2020 ('Annual Report to Shareholders 2020'), 31 October 2019 ('September 2019 Quarterly Reports') and 15 April 2019 ('March 2019 Quarterly Reports'), which are available to view on the Company's website 'orecorp.com.au'. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Original Yarri Announcements and, in the case of Exploration Results, that all material assumptions and technical parameters underpinning the Exploration Results in the Original Yarri Announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's (being Dr Mark Alvin and Mr Jim Brigden) findings are presented have not been materially modified from the Original Yarri Announcements
DISCLAIMER FORWARD-LOOKING INFORMATION
This release contains certain statements which may constitute 'forward-looking information' which are based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to pre-feasibility and definitive feasibility studies, the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. Forward-looking information is developed on the basis of, and subject to assumptions, known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Many factors, known and unknown could impact on the Company's investment in its projects. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; social and environmental risks; community protests; risks associated with foreign operations; governmental and environmental regulation (including whether the SML for the Nyanzaga project will be granted) and health crises such as epidemics and pandemics. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this release, see the Company's Annual Report for the year ended 30 June 2021 as well as the Company's other filings with ASX. As such, readers should not place undue reliance on such forward-looking information. No representation or warranty, express or implied, is made by the Company that any forward-looking information will be achieved or proved to be correct. Further, the Company disclaims any intent or obligations to update or revise any forward-looking information whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
Contact:
Tel: +61 8 9381 9997
ORECORP 