Crusader Resources Licensing Update - Borborema Gold Project (0890W)
July 30 2018 - 2:01AM
UK Regulatory
TIDMCAS
RNS Number : 0890W
Crusader Resources
30 July 2018
30 July 2018
Licensing Update - Borborema Gold Project
Crusader Resources Limited (ASX:CAS, AIM:CAS) ("Company" or
"Crusader") is pleased to announce that it has engaged Ausenco do
Brasil Engenharia Ltda ("Ausenco") to assist Crusader in completing
and reviewing the final documentation required to submit the
application for the Installation Licence for the Borborema Gold
Project ("Borborema").
As previously announced on 11 July 2018, Crusader has commenced
the application process for the full Installation Licence required
for mine construction. Ausenco's addition to the project team will
be highly valuable in enabling Crusader to present an attractive
and cost effective solution in its application for the Installation
Licence. Ausenco will focus initially on the design of the
metallurgical processing plant design as well as the mine layout
and design.
Ausenco has significant experience working with some of the
leading international mining companies, with experience, in
particular, in Brazil. It has successfully demonstrated delivery of
high-performance and low-cost outcomes globally, specialising in
engineering, supply, project development and management and
commissioning.
The Installation Licence will allow the commencement of
engineering work in accordance with the already approved
environmental control plan and is the only major outstanding permit
required to commence mine construction at Borborema.
Crusader has already received the Pre-Licence (Licenc a Previa
or 'LP') from the Rio Grande do Norte State Governmental Department
(IDEMA) in Brazil, which approved the Environmental Impact
Assessment for Borborema.
The Company has now submitted to IDEMA all studies related to
kinetics of the rocks in relation to drainage generation and lodged
an authorisation request for clearing the vegetation in the area of
the project for the pit and infrastructure.
Critically, Crusader has significant positive support from IDEMA
and local government for the project.
Crusader currently expects to receive the Installation Licence
in Q4 2018 and will provide an update on progression of the work
streams in due course.
Marcus Engelbrecht, Managing Director of Crusader said:
"Progress with key work-streams on the Borborema Bankable
Feasibility Study continues at pace and with the addition of an
experienced, international engineering firm of Ausenco's stature,
Crusader is very well placed to attain the final outstanding permit
for the project. Together with the support from IDEMA and the local
government for the project, the Company is making good
progress."
For further information, please contact:
Mr. Paul Stephen Investor Relations
Executive Director Office (Aus): +61 8 9320 7500
Office (Aus): +61 8 9320 7500 Email: admin@crusaderresources.com
Email: paul@crusaderresources.com
Smith & Williamson Corporate Camarco
Finance Limited
Nominated Adviser Financial PR
Azhic Basirov / Katy Birkin Gordon Poole / Nick Hennis
/ Ben Jeynes / Monique Perks
+44(0)20 3757 4997 / +44(0)20
+44(0)207 131 4000 3781 8330
Hannam & Partners
Joint Broker
Neil Passmore / Andrew Chubb
/ Ernie Bell
+44 (0)20 7907 8500
About Crusader
Crusader Resources Limited (ASX:CAS, AIM:CAS) is a minerals
exploration and development company listed on the Australian
Securities Exchange and the AIM Market of the London Stock
Exchange. Its major focus is Brazil; a country Crusader believes is
vastly underexplored and which offers high potential for the
discovery of world class mineral deposits.
Crusader has two key gold assets;
Borborema Gold Project
The Borborema Gold Project is in the Serido area of the
Borborema province in north-eastern Brazil. It is 100% owned by
Crusader and consists of three mining leases covering a total area
of 29 km(2) including freehold title over the main prospect
area.
The Borborema Gold Project benefits from a favourable taxation
regime, existing on-site facilities and excellent infrastructure
such as buildings, grid power, water, sealed roads and is close to
major cities and regional centres. The project's Ore Reserve
includes Proven and Probable Ore Reserves of 1.61Moz of mineable
gold from 42.4Mt @ 1.18g/t (0.4 & 0.5g/t cut-offs for oxide
& fresh). The measured, indicated and inferred Mineral Resource
Estimate of 2.43Moz @ 1.10g/t gold, remains open in all
directions.
Juruena Gold Project
The Juruena Gold Project is located in the highly prospective
Juruena-Alta Floresta Gold Belt, which stretches east-west for
>400km and has historically produced more than 7Moz of gold from
40 known gold deposits. Historically there is a database of more
than 30,000 meters of drilling and extensive geological data.
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END
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