Sihayo completes feasibility and ore reserve studies
Wednesday, January 29 2014 - 09:00 AM WIB
ASX-listed Sihayo Gold Limited announced on Wednesday the Sihayo Open Pit Reserve and the conclusion of its feasibility study on Sihayo Pungkut Gold Project, located in North Sumatra.
?The Sihayo Life of Mine represents the best project returns balancing the previous Stage 1 concept and high strip ratio options. It continues to provide an operating footprint to realise the value from remaining resources at Sambung & Sihayo and retains significant upside pending alternative solutions for power supply and metallurgy recoveries?, said Stuart Gula, Chief Executive Officer and Managing Director of the firm, in a statement.
The company said it is now focused on activity to obtain permits and approvals required to achieve a Construction permit.
The Sihayo and Sambung deposits Mineral Resource Estimate was previously announced June 17, 2013 and no material changes have occurred, the firm said. It is based on Mineral Resource Estimates review and work undertaken by H&S Consultants Pty Ltd. The relevant JORC 2012.
Resource |
Tonnage (Mt) |
Grade Au (g/t) |
Contained Gold ounces |
JORC Classification |
Au Cut-off grade (g/t) |
SIHAYO
|
2.4 |
2.8 |
218,000 |
Measured |
1.2 |
9.2 |
2.5 |
747,000 |
Indicated |
1.2 |
|
3.7 |
3.0 |
357,000 |
Inferred |
1.2 |
|
15.3 |
2.7 |
1,322,000 |
Measured & Indicated & Inferred |
1.2 |
|
SAMBUNG |
0.5 |
2.1 |
32,000 |
Measured |
1.2 |
1.0 |
2.0 |
65,000 |
Indicated |
1.2 |
|
0.1 |
2.0 |
6,000 |
Inferred |
1.2 |
|
1.6 |
2.0 |
102,000 |
Measured & Indicated & Inferred |
1.2 |
|
TOTAL |
16.9 |
2.6 |
1,424,000 |
Measured & Indicated & Inferred |
1.2 |
Indicated and Measured Resources have been converted to Probable and Proved Ore Reserves respectively subject to mine design physicals and an economic evaluation by Entech Pty Ltd. All Inferred material was set to zero grade for the purposes of the estimation. The relevant JORC 2012.
Resource Grade |
Tonnage (Mt) |
Au (g/t) |
Contained Gold ounces |
Resource Category |
SIHAYO
|
2.43 |
2.4 |
190,000 |
Proved |
4.71 |
2.4 |
363,000 |
Probable |
|
TOTAL |
7.14 |
2.4 |
554,000 |
Proved & Probable |
Editing by Johannes Simbolon