Freda Rebecca produces 65,000 oz annually. Zani-Kodo is an exciting new resource of 2.9M/oz, close to Randgold's Kibali gold mine (22M/oz). These assets offer the opportunity for ASA Gold to become a significant gold producer.
Freda Rebecca is the single largest gold-producing mine in Zimbabwe and has plans to increase its annual output significantly from 65,000 oz to over 90,000 oz per annum over the next few years.
The combined JORC resource for Freda Rebecca and Zani Kodo is 1.7Moz at an average grade of 2.42 g/t.
|Classification||Cut off (g/t)||Tonnes (t)||Grade (g/t)||Gold (oz)|
The objective for our 80% owned Zani Kodo is to start a trial operation by installing a pilot gravity plant to recover near-surface gold resources, with a production target of 5,000 oz to 10,000 oz in the first year.
On the basis of experience to date, management is confident that it can increase Zani-Kodo resource at a rate of c 1Moz per annum to reach at least 5Moz within 2 or 3 years of starting a new drilling programme, and up to 10Moz in 5 years.
|Category||Cut off (g/t)||Tonnes (t)||Grade (g/t)||Gold (oz)|
ASA GOLD — OVERALL STRATEGY
We have a 50% interest in Maligreen. An indicated resource of 371,000 ounces at a cut-off grade of one gram per tonne. This gold mine is dormant.