Vector reveals JORC upgrade for Adidi-Kanga Gold Project
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. (FinFeed/Stocks Digital) advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Vector Resources (ASX:VEC) today announced it has finalised conversion of the historical SAMREC Mineral Resource Estimate prepared by AngloGold Ashanti in 2013 for the Adidi-Kanga Gold Project to a JORC-compliant Mineral Resource Estimate of 3.2 million ounces of contained gold.
The verification process has resulted in an upgrade of the Mineral Resource Estimate to 15.0 million tonnes at 6.6 grams per tonne of gold for 3.2 million ounces of contained gold.
The conversion and verification process has been completed during the due diligence and documentation phase of VEC’s acquisition of the Adidi-Kanga Project. VEC has engaged Perth-based consultant, BM Geological Services (BMGS), for independent verification.
The updated Mineral Resource Estimate includes 46 per cent in the indicated category for 6.9 million tonnes at 6.74 grams per tonne of gold for 1.5 million ounces and 8.1 million tonnes at 6.6 grams per tonne of gold for 1.7 million ounces in the inferred category.
Validation of the interpretation, data density and data quality confirms the previous resource classification process and outcome.
Of course, as with all minerals exploration, success is not guaranteed – consider your own personal circumstances before investing, and seek professional financial advice.
A second stage of work is planned with BMGS post-acquisition — this will involve an in-depth modification to the Mineral Resource Estimate, including re-estimation and re-wire framing.
As reported in its most recent quarterly report, VEC is expecting to finalise the transaction documentation for the Adidi-Kanga Gold Project acquisition in February.
VEC CEO, Simon Youds, said: “The verification of the Adidi-Kanga Mineral Resource has been a valuable exercise for our technical team and we are pleased it has confirmed and even exceeded the historical resource prepared by AngloGold Ashanti.”
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