Luiri Gold Limited
Latest News
Drilling Confirms Extensions
February 24th 2010
DRILLING CONFIRMS EXTENTIONS IN MATALA CENTRAL ZONE AND EXPLORATION DEFINES LARGE GOLD TARGET.
Luiri Gold Limited (TSX.V:LGL) (“Luiri Gold”) has released the assay results from the first 5 RC drill holes at the Luiri Hill Gold Project which were completed to test the continuity of the wider mineralization in the central Matala zone (New Release December 17, 2009).
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Latest Drilling Results
January 14th 2010
ADDITIONAL ASSAY RESULTS FROM THE 2009 DRILLING PROGRAMME.
Luiri Gold Limited (TSX.V:LGL) (“Luiri Gold”) has released the assay results from a further 34 drill holes at the Luiri Hill Gold Project. These assay results were from 5 infill diamond drill holes at the Dunrobin deposit, 6 infill diamond drill holes at the Matala deposit, and 23 Reverse Circulation (RC) exploration drill holes on the Matala Dome near the Dunrobin deposit.
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Latest Drilling
December 2nd 2009
LUIRI GOLD ANNOUNCES LATEST DRILLING RESULTS.
Luiri Gold Limited (TSX.V:LGL) (“Luiri Gold”) has released the assay results from the first 23 drill holes of its plus 9,000m RC drilling programme at the Luiri Hill Gold Project
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ASX Approval
November 17th 2009
LUIRI GOLD CLOSES C$7.69 MILLION FINANCING AND RECIEVES APPROVAL TO TRADE ON THE ASX.
Luiri Gold Limited (TSX.V:LGL) (“Luiri Gold”) is pleased to announce that it has successfully closed the fund raising of A$8 million (approximately C$7.69 million) and has received the necessary approval to list on the Australian Securities Exchange Limited (“ASX”).
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C$7.6M Financing
November 4th 2009
Luiri Gold completes C$7.69 Million financing with Euroz Securities Limited.
Luiri Gold Limited (TSX.V:LGL) (“Luiri Gold”) is pleased to announce that Euroz Securities Limited (“Euroz”) has successfully completed the raising of A$8 million (approximately C$7.69 million) to advance exploration at its Luiri Hill Gold and Nambala Iron Projects in Zambia.
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Prospectus
October 19th 2009
FOR AUSTRALIAN RESIDENTS, DOWNLOAD 2009 PROSPECTUS FOR UPCOMING ASX LISTING OF LUIRI GOLD
ASX Listing
October 16th 2009
Management Discussion and Analysis
Luiri Gold Limited (TSX.V:LGL) (“Luiri Gold”) is pleased to announce that it has lodged a prospectus with the Australian Securities and Investment Commission (“ASIC”) on October 16, 2009 for a fully underwritten A$8,000,000 (approximately C$7,640,000) capital raising and to undertake a secondary listing on the Australian Securities Exchange (“ASX”).
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Management Discussion and Analysis
September 25th 2009
Management Discussion and Analysis
Luiri Gold Limited (“Luiri Gold”) provides discussion and analysis of the three months ended July 31, 2009.
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Unaudited Financial Results
September 25th 2009
Unaudited Financial Results
Luiri Gold Limited (“Luiri Gold”) provides the unaudited interim consolidated financial statements nine months ended July 31, 2009.
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Drilling Commences
September 17th 2009
Drilling Commences
Luiri Gold Limited (“Luiri Gold”) wishes to announce the start of a 9,500m drilling programme aimed both at increasing and upgrading existing resources and testing the recently discovered drilling targets.
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C$1.5 Million Placement
July 8th 2009
C$1.5 Million Placement Completed
Luiri Gold Limited (“Luiri Gold”) has closed the first placement from Lachlan Star Ltd (“Lachlan Star”) for CDN $ 1,489,932.10 to bring their holdings to 20% and has called for a shareholders meeting on the 28 July to approve Lachlan Star increasing their holdings to approximately 31%.
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Management Discussion & Analysis
June 25th 2009
Certificate of Interim Filings
This discussion and analysis of the operating results and financial condition of Luiri Gold Limited (“Luiri Gold”, or the “Company”) for the three months ended April 30, 2009 should be read in conjunction with the audited consolidated financial statements for the year ended October 31, 2008, and is intended to provide the reader with a review of the factors that affected the Company’s
performance during three months ended April 30, 2009, and the factors reasonably expected to impact future operations and results.
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Certificate of Filings
June 25th 2009
Certificate of Interim Filings
Review of Interim Financial Statements.
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Lachlan Star
June 8th 2009
Cash Injection from Lachlan Star
Luiri Gold Limited (TSX.V: LGL) and Lachlan Star Limited (ASX:LSA) are pleased to announce that they have entered into an Agreement whereby Lachlan Star will invest A$3 million in Luiri Gold through an initial loan of A$300,000 via a convertible note (immediately) and a two phase placement in Luiri Gold, the first taking their holding to 20%, and the second, subject to Luiri Gold shareholder approval to the full outstanding amount of A$2.7million.More...
2008 Annual Report
February 10th 2009
Notice of Shareholders Meeting.
NOTICE IS HEREBY GIVEN that an annual meeting of the shareholders of Luiri Gold Limited will be held at Suite 1750, 1185 West Georgia Street, Vancouver, British Columbia on FRIDAY, THE 6TH DAY OF MARCH, 2008.More...
Drilling Results
October 6th 2008
POSITIVE DRILLING RESULTS.
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is pleased to announce the results of a 9,600m first phase RC drilling programme at six new targets on the Matala Dome structure all within a 10km radius of the Matala and Dunrobin deposits. Significant gold intersections were returned from five of the six targets.More...
Metallurgical Results
September 24th 2008
POSITIVE METALLURGICAL RESULTS.
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is pleased to announce the results of the scoping metallurgical study undertaken on the Matala and Dunrobin deposits. The work was supervised by Coffey Mining using the Ammtec analytical facilities in Perth, Australia.More...
Drilling Update
September 9th 2008
LUIRI GOLD DRILLING RESULTS IN ZAMBIA.
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is pleased to announce the results of 15 diamond drill holes at the Matala deposit. These drill holes were planned to accomplish three main objectives: to increase the geological knowledge of the mineralization where previously only historical or RC drilling drill holes were available; to improve the understanding on the grade continuity of the mineralization; and to further test the western extension of the deposit.More...
Resource Upgrade
April 15th 2008
LUIRI GOLD INCREASES GOLD RESOURCE IN ZAMBIA.
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is pleased to announce that it has finalized its resource updates resulting from the 9,244m diamond drilling programme recently completed at the Luiri Hills Project (Dunrobin and Matala deposits) in Zambia. The new mineral resource estimates show a significant increase in gold ounces with the total inferred mineral resource increasing from 378,000 ounces to 656,000 ounces (+74%) and the total indicated mineral resource increasing from 117,000 ounces to 144,000 ounces (+23%). These mineral resource ounces are contained in 7.1 million tonnes at 2.9 Au g/t for the inferred category and 2.2 million tonnes at 2.1 Au g/t for the indicated category.More...
Issue of Stock Options
March 12th 2008
Issue of Stock Options.
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) announced that the Board of Directors has approved a grant of 400,000 stock options to Ted Grobicki, a Director and Chairman of the company, exercisable for a period of five years at a price of $0.50 per share. The rules of the Luiri Option plan apply.More...
2007 Annual Report
March 3rd 2008
Notice of Shareholders Meeting.
NOTICE IS HEREBY GIVEN that an annual meeting of the shareholders of Luiri Gold Limited will be held at Suite 1750, 1185 West Georgia Street, Vancouver, British Columbia on FRIDAY, THE 7TH DAY OF MARCH, 2008.More...
Exploration Update
February 5th 2008
LUIRI GOLD RELEASES FINAL ASSAY RESULTS OF THE 2007 DRILLING PROGRAMME AT THE LUIRI HILL PROJECT AND STARTS DRILLING ON SIX NEW TARGETS
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) has released the final results of its 9,244m (31 drill holes) diamond drilling programme at the Matala and Dunrobin deposits. These results are in addition to those given in the Press Release of October 17, 2007.More...
Placement Completed
January 8th 2008
LUIRI GOLD CLOSES C$3 MILLION FINANCING WITH STRATA CAPITAL AND FIRST CANADIAN CAPITAL
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) announces it has closed a C$3 million private placement in respect of which Strata Capital and First Canadian Capital served as finders and provided certain corporate advisory services.More...
$3M Private Placement
December 11th 2007
LUIRI GOLD ANNOUNCES C$3 MILLION FINANCING WITH STRATA CAPITAL AND FIRST CANADIAN
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) announces a C$3 million private placement in respect of which Strata Capital and First Canadian served as finders and provided certain corporate advisory services.More...
Gold Results
October 22nd 2007
LUIRI GOLD CONTINUES TO EXTEND GOLD MINERALIZATION AT THE LUIRI HILLS PROJECT
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) has completed 23 drill holes including 6,946m of diamond core drilling of the planned 8,000m at the Dunrobin and Matala gold deposits.
The drilling programme has been planned to expand the current resource estimates for both deposits. The drilling is ahead of schedule and will be completed a month early in October due to the company’s decision to use two available diamond rigs for the total programme.More...
Nambala Iron
October 15th 2007
LUIRI GOLD IN DISCUSSIONS WITH JV PARTNER ON THE NAMBALA IRON PROJECT
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) has received a report on an independent project review of the Nambala iron deposit on the Luiri Hill license about 120km west of Lusaka in Zambia prepared by RSG Global Consulting Pty Ltd (now Coffey Mining).
The scope of the review, which did include a site visit by a RSG Global geologist, was to assess the current information available on the deposit, and to check the economic viability of mining an iron deposit at the Luiri Hill project in Zambia, a landlocked country.More...
Resource Increase
August 8th 2007
LUIRI GOLD INCREASES GOLD RESOURCE BY 76% IN ZAMBIA
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is pleased to announce that it has finalized its resource updates resulting from the 4,159 m drilling programme recently completed at the Luiri Hills Project (Dunrobin and Matala deposits) in Zambia. The new mineral resource estimates show an increase of 76% in total gold ounces with the total inferred mineral resource increasing from 173,000 ounces to 378,000 ounces and the total indicated mineral resource increasing from 108,000 ounces to 117,000 ounces.
These mineral resource ounces are contained in 3.2 million tonnes at 3.7g/t for the inferred category and 1.8 million tonnes at 2.0 g/t for the indicated category.More...
Drilling Commences
July 17th 2007
LUIRI GOLD COMMENCES MAJOR DRILLING PROGRAMME IN ZAMBIA
Drilling has commenced as part of a program that will include up to 10,000 meters at the Luiri Hills Project with the main objective to expand the resources at the Matala and Dunrobin deposits. Furthermore, work has started on a number of technical scoping studies in preparation for a Preliminary Economic Assessment to be undertaken at the completion of this phase of drilling.More...
Gold Intersections
May 28th 2007
LUIRI GOLD DRILLING CONFIRMS EXTENDED GOLD MINERALIZATION AT THE LUIRI HILLS PROJECT, ZAMBIA
Analytical results from the 4,159m drilling program has confirmed a high grade depth extension at the Matala gold deposit over a 1km strike length, and the continuation of the mineralized zone at the Dunrobin gold deposit at the Luiri Hills Project in Zambia.More...
Capital Placement
May 25th 2007
LUIRI CLOSES C$4 MILLION FINANCING WITH STRATA CAPITAL
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) which last month signed a Memorandum of Understanding with Strata Capital UK LLP (“Strata”) under which Strata will support the Strategy of Luiri, has successfully closed the C$4 million private placement in respect of which Strata served as a finder and provided certain corporate advisory services.
The closure was on schedule and the private placement fully subscribed. More...
Stock Options
April 16th 2007
LUIRI GOLD ISSUES STOCK OPTONS
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) announced that subject to TSX Venture Exchange approval, the Board of Directors has approved a grant of 1,000,000 stock options to Ted Grobicki, a Director of the company, exercisable for a period of five years at a price of $0.38 per share.
This is subject to the successful completion of the private placement by Strata Capital UK LLP currently been undertaken by that company and announced in a separate Press Release today. The rules of the Luiri Option plan apply. More...
Strategic Alliance with Strata Capital
April 16th 2007
LUIRI ENTERS INTO A STRATEGIC ALLIANCE WITH STRATA CAPITAL
Toronto, Canada - Luiri Gold Limited (“Luiri”) and Strata Capital UK LLP (“Strata”) have signed a Memorandum of Understanding under which Strata will support the strategy of Luiri to grow the company into a geographically diversified African gold resource company.
Strata will initially raise up to C$4million through a private placement to finance Luiri’s current growth program and evaluate new acquisition opportunities. Mr. Ted Grobicki has also agreed to join the Board of Luiri as Chairman. More...
Drilling Programme Completed
March 23rd 2007
LUIRI COMPLETES DRILLING PROGRAMME AT
THE LUIRI HILLS PROJECT, ZAMBIA
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) has completed a 4,159m combined RC and diamond core drilling programme at the Dunrobin and Matala gold deposits.
The company has also received the results of the first four drill holes completed at the Dunrobin deposit. More...
Issue of Options
March 13th 2007
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is please to provide its Annual Report for 2006.
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) announced that the Board of Directors has approved a grant of 146,500 stock options to Richard Billingsley, a director of the company, exercisable for a period of five years at a price of $0.40 per share. More...
2006 Annual Report
Feburary 9th 2007
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) is please to provide its Annual Report for 2006.
The report ccontains:
- Notice of Annual Meeting of Shareholders
On March 12, 2007 - Management Information Circular
Dated February 9, 2007 - Audited Financial Statements
For the year ended October 31, 2006 - Management’s Discussion and Analysis
For the year ended October 31, 2006 - Corporate Information
The document is made available here in pdf format...More...
Change of Directors
Feburary 2nd 2007
Toronto, Canada - Luiri Gold Limited (TSX.V: LGL) announced the following changes in the structure of its Board:
Resignation of Director.
Mr Glenn Laing has resigned as a Director of the Company. Glenn assisted the company through its formative stages as a listed company. The Directors of Luiri Gold Limited wish to express their thanks to Glenn.
Appointment of Director.
Mr Richard Billingsley has been appointed to the Board of Directors of Luiri Gold Limited. Mr Richard Billingsley is a company director and mineral explorationist who acquired extensive experience in geochemical sampling and geophysical field work early in his career...More...
Pilot geophysical survey completed
January 19th 2007
Luiri Gold Limited (TSX.V: LGL) announced the initial results of a geophysical induced polarization (“IP”) pilot study programme that was undertaken over the western nose of the Matala Dome mineralized structure including the measured Dunrobin gold Deposit.
The programme has resulted in the identification of two strong open-ended geophysical anomalies that will be targeted for follow up work. The first, in the south-east, is the strongest and is associated with a known gold soil target, while the second, in the east, is on a geological trend that may be preferential for gold mineralization. A third strong anomaly in the west is believed to be associated with a known geological feature that is not expected to be mineralized..More...
Drilling commences
December 12th 2006
Luiri Gold Limited (TSX.V: LGL) announced today that the 5,000m combined RC and Diamond core drilling programme at Dunrobin and Malata is now in progress with almost 1,000m haveing been completed.
Drilling has been planned to expand the current resource estimates at both deposits, and to evaluate, over a distance of 4km, the New Malata Extension immediatelywest of and on strike with the Matala Deposit..More...
New Gold Anomaly
October 17th 2006
Luiri Gold Limited (TSX.V: LGL) announced today that the first phase of soil geochemical sampling over the western portion of the Matala Dome mineralized structure has identified several new potential targets, including a large gold anomaly of over 2km by 800m which is still open, located 4km to the north of the Matala Deposit.
The new anomaly, known as the "Marco" anomaly (see Figure 1), is the largest identified to date in the area. It is substantially larger thatn the anomalies found either at the Dunrobin or Matala Deposits, which currently have a combined resource of 108,000 ounces of gold in the indicated and 173,000 ounces in the inferred category.More...
Drilling Contract Finalized
August 22nd 2006
Luiri Gold Limited (TSX.V: LGL) is pleased to announce it has finalized the drilling contract with Drillafrica Co. Ltd. to carry out 5,000 meters of combined RC and diamond drilling at its two deposits on the Luiri Hills Project in Zambia, commencing in September 2006.
These two deposits, Matala and Dunrobin, currently have an estimated resource of 108,000 ounces of gold in the indicated and 173,000 ounces in the inferred category according to JORC classification (1.6 million tonnes at 2.1g Au/t and 1.3 million tonnes at 4.1g Au/t respectively).
The drilling programme is being managed by RSG Global, an internationally recognized geological and mining consultancy, in consultation with Luiri Gold. More...
Stirling closes acquisition to become Luiri Gold
June 23rd 2006
Stirling Exploration Ltd (TSX Venture: PND.P) (“Stirling”) is pleased to announce it has closed the
acquisition of all of the outstanding common shares of LG Holdings (“LGH”), in exchange for common
shares of Stirling.
The LGH acquisition constitutes the Qualifying Transaction of Stirling as defined in Policy 2.4 Capital Pool Companies of the TSX Venture Exchange. LGH is an African-focused resource company with a stated strategy of creating shareholder value through the discovery and exploitation of gold and copper-gold ore deposits in Zambia. LGH’s wholly owned Zambian subsidiary, Luiri Gold Mines Limited (“Luiri Gold”) holds mineral tenements within southern-central Zambia covering approximately 2,500 km2 of highly prospective exploration ground focused on the historic Dunrobin and Matala gold mines. More...
Luiri Gold to list on the TSX
June 21st 2nd 2006
Luiri Gold (TSX Code: LGL) is pleased to announce that it has listed on the Toronto Stock Exchange following a successful capital raising of $C3M.
Please note that most public documents and press releases relating to Luiri Gold Limited can be found on the website www.sedar.com. This is the official site that provides access to most public securities documents and information filed by public companies and investment funds with the Canadian Securities Administrators (CSA) in the SEDAR filing system
Luiri Gold in potential reverse takeover of Stirling Exploration Ltd, a TSX-Venture listed company
February 2nd 2006
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Stirling Exploration Ltd (TSX Venture: PND.P) (“Stirling”) is pleased to announce the signing of a Term Sheet dated January 30, 2006 (“the Agreement”) to acquire all of the outstanding common shares of LG Holdings (“LGH”), in exchange for common shares of Stirling.
LGH is an African focused private resource company incorporated in Mauritius with the stated strategy of creating shareholder value through the discovery and exploitation of gold and copper-gold ore deposits in Zambia. LGH’s wholly owned Zambian subsidiary, Luiri Gold Mines Limited (“Luiri Gold”) holds mineral tenements within southern-central Zambia covering approximately 2,500 km2 of highly prospective exploration ground focused on the historic Dunrobin and Matala gold mines.
MINING REVIEW AFRICA - PDF Summary of Luiri Gold Project
Issue 1 2005
Mining Review Africa Looks at the Luiri Gold Project.
Luiri Gold Project
Mining Review Africa 2005
(30Kb .pdf format)
VALUE NEWS - Zambia enters gold-mining fray
16:26:25 GMT, 14 February, 2005
Luiri Gold Mines has started drilling on a promising new prospect in Zambia.
The company has embarked on its first phase of drilling at the defunct Dunrobin mine, some 120 km west-northwest of Lusaka. The new gold prospect reportedly has the promise to be significantly-sized, long-life operation, Mining Weekly reports.
Ten kilometres away, Luiri also has the long-dormant Matala mine, which was mined between 1928 and 1941, as well as 2,500 km2 of exploration tenements surrounding the Matala and Dunrobin mines, where a number of promising targets have been identified.
The mine at Dunrobin consists of an open pit, which was last systematically mined by Reunion. "Although Reunion had reasonable grades, the low gold prices at the time forced the closure of the operation," Luiri Gold managing director, Mike Sperinck, said.
Luiri was granted a full mining licence for the site in 2003 and the two mines have historically-defined resources of almost 300,000 oz at depths above 200m below surface.
The company plans to erect a centralised mill and carbon in leach (CIL) gold plant, which would serve both Dunrobin and Matala mines, as well as any future targets in the region.
The drilling is being carried out by the Zambian company, Stanley Mining, while Geoquest is facilitating the logistics for Luiri's programme in Zambia. RSG Global, which has been involved in the oversight of the Luiri project for the last three years, will continue to manage the exploration campaign.
MINING WEEKLY - Zambia set for golden opportunity
Published: 2005/02/25 Author: Andrew Lanham
One would not normally associate Zambia with gold-mining; the mainstay of its mineral industry for decades having been copper.
However, Mining Weekly visited a new gold prospect, Luiri Gold Mine, in Zambia, that has the promise to be a significantly-sized, long-life operation.
Luiri Gold has embarked on its first phase of drilling at the defunct Dunrobin mine some 120 km west-north-west of Lusaka.
Ten kilometres away, Luiri also has the long-dormant Matala mine which was mined between 1928 and 1941.
In addition, Luiri has 2 500 km2 of exploration tenements surrounding the Matala and Dunrobin mines, where a number of promising targets have been identified.
The mine at Dunrobin consists of an openpit, which was last systematically mined by Reunion.
Although Reunion had reasonable grades, the low gold prices at the time forced the closure of the operation," explains Luiri Gold’s MD Mike Sperinck.
Reunion's efforts can be seen near the Dunrobin mine offices in the form of a 400 000-t heap-leach dump.
Vincent Morel, RSG Global’s consulting geologist on the project, explains that there were some technical problems with the dump as the ore was not being crushed sufficiently finely and the resulting recoveries would have suffered.
"A heap-leach operation such as this does not have sufficient tonnage to make for a viable operation," he says.
After Reunion closed the Dunrobin mine, the operation was taken over by another South African-based operation, which attempted to wrest some value from the openpit.
Morel points out that the mining then became haphazard and-after a short spell, this company abandoned the mine.
What augurs well for Luiri is that it has, in 2003, at this early stage, been granted a full mining licence.
What is more, the two mines have historically-defined resources of almost 300 000 oz at depths above 200 m below surface.
However, Sperinck is cautious about attempting any mining at this stage.
While it would be possible to start mining at Dunrobin immediately, Sperinck would like to build up the resource to at least a million ounces before any mining is undertaken.
The ultimate aim is to erect a centralised mill and carbon-in-leach gold plant, which would serve both Dunrobin and Matala mines, as well as any future targets in the region.
"Our aim to build up a well-planned long-life operation which can offer sustained value," he says.
To secure previous exploration data from the two mines took some deft detective work.
Extensive networking was done with consultants in Zambia, Zimbabwe and South Africa, some of whom had been involved with the mine previously and others, such as JCI Limited and Cogema, in France, who had undertaken exploration drilling at the Zambian site.
Today Luiri has in its possession more than 7 088 m of diamond and reverse circulation (RC) drilling records dating from the 1990s, which are considered reliable and are being used to model and evaluate the ore- bodies.
As none of the accompanying borehole core is available, Luiri is currently undertaking a first phase of another 3 000 m to 4 000 m of RC drilling to validate this information.
This programme began in January, after overcoming the considerable challenge of sourcing an exploration drillrig in Zambia.
The drilling is being carried out by the Zambian company, Stanley Mining, while the logistics for Luiri’s programme in Zambia are being facilitated by Geoquest.
RSG Global, which has been involved in the oversight of the Luiri project for the last three years, will continue to manage the exploration campaign.
Once the results of the first phase of drilling have been evaluated, a further 10 000 m is planned for mid-2005.
To date, the historical drilling data has shown that good grades are still available.
"One must bear in mind that, at Dunrobin, mining stopped in ore," explains Sperinck.
Sperinck was part of the Randgold Resources team that took Morila mine, in Mali, from greenfields to a five-million-ounce operation in four years.
"A priority of mine is to bring Luiri’s exploration data and resources to conform to JORC and SAMREC standards," explains Sperinck.
When Mining Weekly visited the Matala mine site, the small vertical shafts testified to the modest tonnages the mine was producing.
Similarly Dunrobin’s heap-leach operation was not of sustainable size.
During times of low gold prices, these operations would have been vulnerable.
The new Luiri Gold operation will be mining larger tonnages, and the mine will also use hedging to cover its capital commitments by locking in a sustainable price for its production during the payback period.
Although not the main focus, Luiri's prospects also carry the potential for viable copper production.
Once the deposit has been proven to international reporting standards, RSG Global and MDM Ferroman will undertake a feasibility study on starting mining operations at Dunrobin.
