Marda Gold Project Feasibility - Additional Information
Brisbane, Dec 20, 2013 AEST (ABN Newswire) - On 10 December 2013, Southern Cross Goldfields (
ASX:SXG) released an announcement relating to the recent revision of its feasibility study for the Marda Gold Project located in Western Australia.
Further to that announcement the Company wishes to provide the following additional information.
a) The feasibility study update was based on a review of the study undertaken in 2012 which was documented in the announcement entitled "SXG set to open up new WA gold province with Marda Gold Development" released on 10th May 2012 ("May 2012 Announcement").
b) As the reported Mineral Resources and Ore Reserves are consistent with, and extracted from, the May 2012 Announcement, SXG is also required to advise that: "This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported."
c) SXG confirms that all the material assumptions underpinning the production target as stated in the May 2012 Announcement continue to apply and have not materially changed. However, in satisfaction of ASX Listing Rules 5.16 and 5.17, SXG restates these assumptions and includes other assumptions relating to forecast financial information. These are shown in Appendix 3 to the revised announcement.
The changes above have been included in the revised announcement on the following pages. No other material changes have been made to the announcement released on 10 December 2013.
SXG reiterates that the revised study delivers robust economics placing the project as one of the most attractive gold project development opportunities in Australia.
To view the orginal release, including updated information, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SXG-662671.pdf
Contact
Frank Terranova
Managing Director
Southern Cross Goldfields Ltd
TEL: +61-7-3221-6022
Email: frankt@scross.com.au
Web: www.scross.com.au
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