Auplata (Euronext Growth - FR0010397760 - ALAUP), the largest exchange-listed French gold producer, announces that, following the Scoping Study carried out to Joint Ore Reserve Committee (JORC) standards – international norms used to estimate and report mineral resources and reserves – which was published in late 2017 by the engineering consultancy firm SOFRECO based on inferred resources, the Company has asked the firm to design a program of work for the Yaou deposit, that would:
(i) report the “known reserves” at the deposit, as defined by JORC or NI 43-101; and
(ii) carry out a Pre-Feasibility Study (PFS).
SOFRECO has been able to collect all the existing data and has performed a detailed analysis of each deposit to establish the details, duration and cost of the work and studies that would have to be carried out to achieve this objective. For the analysis, the objective is achievable with a limited-scale program of work and studies on the Yaou deposit. For the pre-feasibility study, the amount of work required (details, duration and cost) has been quantified.
SOFRECO has estimated the implementation cost and timelines for the Yaou deposit as follows:
- Administrative time to obtain drilling permits: 4 to 6 months;
- Resampling of existing cores and drilling of new boreholes to obtain the resource data required by JORC standards: estimated 38 weeks, costing in the region of €1.4 million;
- Pre-feasibility study: estimated 18 months, costing in the region of €2.6 million;
In parallel with the work recommended by SOFRECO, Auplata could also explore little-known areas of Yaou that present gold mineralization potential, with the objective of developing the ore deposit.
As previously noted, at this stage of the company's knowledge of the Yaou deposit, the inferred resources are an estimated 22.9 million metric tons of ore with an average gold content of 2.1 g/t, which is an estimated 1.6 million ounces of gold (copper content 0.5 g/t).
The financial appraisal carried out in December 2017 reported that the Yaou deposit alone is worth between €44.3 and €51.3 million. The consolidated financial statements show the total value of the Dieu Merci, Yaou and Dorlin mining assets as an estimated €80.6 million.
The detailed analysis by SOFRECO is downloadable from the Auplata website: click here to download the study.
Based in French Guiana, Auplata is the largest French, stock-market listed gold producer. The Company has more than 700 sq km of mining permits and titles in French Guyana. Auplata operates an innovative industrial and financial strategy, aimed at developing and exploiting Guianese gold resources with the strong involvement of local players. The Company's objective is to offer sustainable exploitation for the Guianese mining industry. Since June 2015, Auplata is a shareholder in the Côte d'Ivoire mining company OMCI, which owns two mining projects in Côte d'Ivoire.
Auplata's share are listed on the Euronext Growth market in Paris (Euronext). ISIN: FR0010397760 – ALAUP; ICB: 1777 – Gold Mining.
For more information about Auplata, go to www.auplata.fr.