Resource and mine life increased at Taysan

摘要

MEASURED and indicated resources at Crazy Horse Resources' Taysan Copper-Gold Project have increased to from 411 million to 459 million tonnes while a revised pit optimization has increased mine life from 15 to 24 years. The new estimate has seen contained copper increase by 7%, gold by 15%, silver by 1 % and magnetite by 11 %.A pre-feasibility study was due to be completed during April and with 302 drill holes for 82,594 metres of core drilling, the Taysan project has been sufficiently drilled for defining a bankable feasibility study based on the planned mining operation of an annual 15 million tonnes. The revised resource statement was prepared by Mining Associates and shows a measured resource of 156 million tonnes at an average grade of 0.31 % for 1077 million pounds of contained copper and an indicated resource of 303 million tonnes at an average copper grade of 0.23% for 1502 million pounds of contained copper. The combined measured and indicated resources also show 1.46 million ounces of gold, 12.34 million ounces of silver and 14.89 million tonnes of magnetite.