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Ord River Resources moves closer to Yuqida JORC Resource update in Laos
Edited by : AL CIRCLE
2 min read
Ord River Resources (ASX: ORD) is in the final stages of a JORC Resource statement for the Yuqida prospect at the company’s bauxite bauxite/alumina project in Laos, which follows a 300% increase in the LSI tenement in late 2011.
Proposals for a Bankable Feasibility Study at the project are being assessed.
Yuqida has an existing Indicated Resource of 110 million tonnes at 23% available aluminium, while the updated Resource at LSI is 77 million tonnes at 23% available aluminium with a 10% aluminium cut-off grade.
The project is held by Sino Australian Resources (SARCO), a joint venture company which is 49% owned by Ord River and 51% owned by China Nonferrous Metal Industry’s Foreign Engineering and Construction Company (NFC).
Australian operations
In other company news, Ord River is planning a drilling program at its 100%-owned Suplejack Gold Project in the Northern Territory.
The program, which is scheduled for the dry season, will target the Tregony prospect, where previous drilling has intersected significant zones of gold mineralisation, with assays of up to 220 grams per tonne gold.
Suplejack has a JORC Inferred Resource of 55,000 ounces of gold, and is located in a producing gold region.
Meanwhile, Ord is reviewing the Copper Flat Project to remove any uncertainty about the company’s funding requirements on the project.
In November 2010 Ord and Guangdong Rising Assets Management announced a joint venture agreement under which GRAM would farm into the Copper Flats Project.
However, Ord was notified that the Guangdong State Asset Supervision and Administration Committee had not approved the investment due to exploration uncertainty and risks.
Ord has engaged Patersons Securities to advise on the potential sale of Copper Flats.
Proposals for a Bankable Feasibility Study at the project are being assessed.
Yuqida has an existing Indicated Resource of 110 million tonnes at 23% available aluminium, while the updated Resource at LSI is 77 million tonnes at 23% available aluminium with a 10% aluminium cut-off grade.
The project is held by Sino Australian Resources (SARCO), a joint venture company which is 49% owned by Ord River and 51% owned by China Nonferrous Metal Industry’s Foreign Engineering and Construction Company (NFC).
Australian operations
In other company news, Ord River is planning a drilling program at its 100%-owned Suplejack Gold Project in the Northern Territory.
The program, which is scheduled for the dry season, will target the Tregony prospect, where previous drilling has intersected significant zones of gold mineralisation, with assays of up to 220 grams per tonne gold.
Suplejack has a JORC Inferred Resource of 55,000 ounces of gold, and is located in a producing gold region.
Meanwhile, Ord is reviewing the Copper Flat Project to remove any uncertainty about the company’s funding requirements on the project.
In November 2010 Ord and Guangdong Rising Assets Management announced a joint venture agreement under which GRAM would farm into the Copper Flats Project.
However, Ord was notified that the Guangdong State Asset Supervision and Administration Committee had not approved the investment due to exploration uncertainty and risks.
Ord has engaged Patersons Securities to advise on the potential sale of Copper Flats.
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