Name and Location
Manica gold project, Mozambique.

Client
Xtract Resources.

Project Description
The proposed project will include two openpits, a shallow underground mine area to be accessed through adits and a 60 000 t/m processing plant, with supporting infrastructure and residue facilities.

The project is targeting the nonrefractory, relatively shallow ore.

Life-of-mine is currently expected to be less than ten years.

Net Present Value/Internal Rate of Return
Not stated.

Value
$28-million.

Duration
Production is targeted for 2017.

Latest Developments
The gold resource of the Manica project has increased 36% to 1.26-million ounces.

The increase follows an independent technical study of the mineral resources of the project’s Fair Bride gold deposit by Minxcon Projects. The results of the study will form a part of the Manica project’s bankable feasibility study, which is nearing completion.

"Not only has the gold content increased significantly, but the total measured and indicated volume available to be mined has also increased by over 56%,” Xtract CEO Jan Nelson has said.

He notes that this creates flexibility from an openpit perspective, considering the company’s revised mine plan.

“The life-of-mine of the project has the potential to be increased well beyond 12 years with further drilling," he has said.

Key Contracts and Suppliers
JP Mining Consulting (scoping study), EnviroSig and SLR Consulting Africa (environmental-impact assessment) and Read Matomo (preliminary gold plant and infrastructure capital and working-cost estimates).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Auroch Minerals, tel +27 11 218 3856, fax +27 11 880 1270 or email admin@aurochminerals.com.