AMN - MOZAMBIQUE: Manica resource increases 36%

Xtract Resources has completed an independent technical report on the mineral resources of the company’s Fair Bride gold deposit at the 3990 Mining Concession Manica in Mozambique.

The report confirms that the resource at Manica has increased by 36% to 1.257 million ounces at a cut-off of 1 gram/tonne. The content of the report will form a key part of the Bankable Feasibility Study on the Manica project (BFS), which is nearing completion.

Xtract CEO Jan Nelson says: “We are extremely pleased with this significant increase in the Manica resource ahead of the completion of the Bankable Feasibility Study. 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%. This creates flexibility from an open pit perspective, considering our revised mine plan. The significant increase in the Inferred category also shows that the life of mine of the project has the potential to be increased well beyond 12 years with further drilling.”

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