Name of the Project
Crawford Stage 1 oxide pit project.

Location
East of the Leonora township, in Western Australia.

Project Owner/s
Explorer and gold and nickel project developer Cavalier Resources.

Project Description
The project has probable reserves of one-million tonnes grading 0.91 g/t gold. Stage 1 has a project life of 18 months for total gold production of 23 467 recovered ounces.

Traditional truck-and-shovel operations and processing by heap leaching will be used to mine.

There remains significant upside in increased revenues and total project growth, owing to Stage 1 being constrained to the central oxide portion of the resource and the resource remaining open along strike and depth.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a gold price of a$4 600/oz, the project has a net present value, at an 8% discount rate, of A$51.7-million and an internal rate of return of 580%, with a payback of 8.9 months.

Capital Expenditure
Total capital costs are estimated A$9.82-million.

Planned Start/End Date
Not stated.

Latest Developments
Not stated.

Key Contracts, Suppliers and Consultants
Asgard Metals and Geomin Consulting (exploration geology); Auranmore Consulting (resource estimation); Peter O’Bryan and Associates (geotechnical studies); Geowater Consulting (groundwater studies); Auralia Mining Consulting (mining engineering); KCAA, Daniel Schwann Consulting and ALS Metallurgy (metallurgical studies); CPC Engineering and ARC-Vanture International (processing); and Native Vegetation Solutions and Terrestrial Ecosystems (environmental).

Contact Details for Project Information
Cavalier Resources, tel +61 8 6188 8181 or email info@cavalierresources.com.au.