News re JV B2Gold (49%) and AngloGold Ashanti (51%) Pre-feasibility study of Gramalote project in Columbia
20 February 2018
NEWS RELEASE Release of 1.8Moz Maiden Ore Reserve (Attributable) for Gramalote The following market release contains information derived from the pre-feasibility study into the development of the Gramalote project. The project will now undergo a full feasibility study, during which all metrics, including capital and costs, will be optimised. No capital for development of the project has been committed. AngloGold Ashanti Limited (AGA) is pleased to announce the first Ore Reserve for the Gramalote project in Colombia - with 63.7Mt @ 0.86 g/t gold comprising contained metal content of 1.8Moz, on an attributable basis. The Gramalote project is a Joint Venture between AGA (51% and manager) and B2Gold (49%). The project lies on the eastern flank of the Cordillera Central near the towns of Providencia and San Jose del Nus in the municipality of San Roque, in the north-west of the Antioquia Department. It is approximately 230km north-west of Bogota and 124km north-east of Medellin (see Figure 1). “We are developing this as a good long-term option in our pipeline, and will be working hard to optimise all of its key elements – including capital -- during the feasibility study phase,” Ludwig Eybers, AngloGold Ashanti’s Chief Operating Officer-International said. “While we are a long way from committing any capital to this project, it represents good value that we will realise over time.” There is a lot of work to do, during the feasibility study
Here is the link to full news release (32 pages)
https://thevault.exchange/?get_group_doc=143/1519106205-Releaseof1.8MozMaidenOreReserveforGramalote.pdf