Emerald Resources expects to release the results of a definitive feasibility study (DFS) for the Okvau Gold Project in Cambodia by the end of April. The company believes the DFS will demonstrate enhanced project economics when compared to a pre-feasibility study (PFS) completed in 2015.
Emerald says that this will primarily be due to lower waste to ore strip ratio driven by improved geotechnical parameters, a slight increase to in pit ounces and reduced capital costs.
The company is undertaking final review and optimisation of mine scheduling and capital cost inputs, which are the only outstanding DFS items. It is likely to release the DFS results along with a maiden JORC reserve estimate by the end of April.
The previous PFS was completed by Renaissance Minerals, which was the subject last year of a successful takeover by Emerald.
The Okvau and adjoining O’Chhung licences cover about 400sqkm and are within the core of a prospective Intrusive Related Gold province in the eastern plains of Cambodia, about 265km northeast of Phnom Penh.
An independent indicated and inferred resource estimate of 15.8 million tonnes @ 2.2 g/t for 1.13 million ounces of gold was completed for the Okvau deposit in July 2015, with 85% of this in the indicated category. The deposit remains open and there is significant potential to define additional ounces from shallow extensions along strike to the northeast and at depth.
A shallow drilling program of 77 holes for 7424 metres was completed in the December quarter to infill the top 120 vertical metres of the deposit.
Best results were: 16 metres from 19 metres @ 2.90 g/t, 5 metres from 74 metres @ 13.16 g/t, 31 metres from 81 metres @ 3.11 g/t, 9 metres from 34 metres @ 5.69 g/t, 3 metres from 81 metres @ 17.99 g/t, 34 metres from 14 metres @ 2.27 g/t, 24 metres from 93 metres @ 3.06 g/t, 8 metres from 81 metres @ 10.25 g/t, 2 metres from 14 metres @ 33.91 g/t, 2 metres from 109 metres @ 25.38 g/t, 9 metres from 35 metres @ 15.09 g/t, 18 metres from 83 metres @ 4.53 g/t, 20 metres from 93 metres @ 2.53 g/t, 17 metres from 45 metres @ 4.72 g/t and 5 metres from 135 metres @ 10.34 g/t.
Emerald Resources