Crusader starts BFS on Brazil project

21st February 2012 By: Esmarie Swanepoel - Creamer Media Senior Deputy Editor: Australasia

PERTH ( - ASX-listed Crusader Resources has undertaken a bankable feasibility study (BFS) on its Borborema gold project, in Brazil.

The BFS would investigate a possible four-million-ton-a-year operation, for an estimated life-of-mine of ten years. This compared with a recently completed three-million-ton-a-year prefeasibility study, and reflected the increased size of the Borborema gold resource.

Crusader MD Rob Smakman said on Tuesday that the Borborema project had the potential to be a company maker for Crusader.

“We have advanced rapidly through the exploration and resource definition phase and are taking large strides towards becoming a significant gold producer,” he said.

“The prefeasibility study on Borborema produced very positive results and we are expecting similarly positive results from the bankable feasibility study due to be finished later this year.”

The Borborema gold project currently contains an estimated 2.13-million ounces of gold from an indicated and inferred mineral resource of 68-million tons, grading 1.06 g/t gold. The mineral resource estimate would continue to be updated during 2012, as drilling programmes accelerated.

Smakman said that the BFS would likely be completed by the third quarter of this year.