Crusader Advances Borborema Licensing - Update
Perth, July 20, 2016 AEST (ABN Newswire) - Brazil-focused gold development company Crusader Resources (
ASX:CAS) (CHLXF:OTCMKTS) ("Crusader" or "the Company") is pleased to announce its current operating licence for its wholly-owned Borborema Gold Project in Rio Grande do Norte State, Brazil, has been renewed by the State Government Environmental Authority- IDEMA. Highlights
- Crusader has received an important renewal from the Rio Grande do Norte state government environmental department (IDEMA) for its operating licence for Borborema
- The current operating licence is the penultimate step in the updated licensing process for Borborema, with the final step being an alteration to the operating licence
- Strong support for the new project plan has been received from both the environmental agency, local council and the State Governor of Rio Grande do Norte
The licence grant comes in the wake of the new project plan submission made to the environmental authorities which proposes a smaller footprint, dry stacked tailings and restricts the project infrastructure to Crusader's owned farm area (see Figure 1 in link below, and ASX release 16/05/2016).
The renewal of the operating licence for tenement 805.049/1977 means that, subject to the normal licence conditions which are materially unchanged from previous versions, Crusader is free to operate within an 8Ha area- an area covering the main open pit and historic heap leaching area. This operating licence needed to be renewed before it could be altered to allow for Carbon in Leach (CIL) processing on a much increased footprint.
The granting comes in the wake of a technical visit from an IDEMA team who visited in May 2016 (see Figure 2 in link below) in order to audit the renewal application and importantly, the subsequent alteration licence application which is now the final and most important hurdle to licensing Borborema.
Crusader Managing Director Rob Smakman said:
"We are very pleased with the progress we are making on the licensing at Borborema, by pro-actively changing the project scope, we have received very strong support from both the environmental agency and the government as a whole. We are now very confident IDEMA will grant the full licence for the project in coming months."
Previously mined as a heap leach in the 1980's (Brazil's first such project), Crusader has completed sufficient work to delineate a JORC compliant mineral resource estimate of 68.6Mt @ 1.10g/t Au for 2.43Moz contained gold, including Proven and Probable reserves of 42Mt @ 1.20g/t for 1.6Moz. (See Figure 4 in link below).
To view tables and figures, please visit:
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About Crusader Resources Limited
Crusader Resources Limited (ASX:CAS) is a minerals company focussed on the identification, acquisition, development and operation of projects in Brazil. Crusader believes that Brazil is a vastly underexplored country with high potential for the discovery of world class mineral deposits. The company has already acquired a diverse portfolio of projects including gold, iron ore, tin, tungsten and uranium and continues to utilise its strong networks in Brazil to identify new opportunities.
Crusader is characterised by a tight corporate structure and features an experienced board of directors who are strongly focussed on the success of the company.
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