Bardoc Gold Limited (ASX: BDC)

Advised that its strategy to establish a significant long-term gold operation at its flagship 100%-owned 3.02 M oz au Bardoc Gold Project, located 50 km north of Kalgoorlie in Western Australia, continues to advance rapidly, with the ongoing Definitive Feasibility Study (DFS) entering a significant new phase.

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BARDOC COMMENCES MAJOR DRILLING PROGRAM TO
INCREASE RESERVES AS DEFINITIVE FEASIBILITY STUDY MAKES
STRONG PROGRESS

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Bardoc Gold Limited (ASX: BDC) (Bardoc or the Company) is pleased to advise that its strategy to establish a significant long-term gold operation at its flagship 100%-owned 3.02Moz Bardoc Gold Project, located ~50 km north of Kalgoorlie in Western Australia, continues to advance rapidly with the ongoing Definitive Feasibility Study
(DFS) entering a significant new phase.

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The Company is pleased to announce the commencement of a new +7,000 m resource in-fill drilling program targeting additional mining reserves at the cornerstone Excelsior, Zoroastrian and Aphrodite deposits. This program is designed to target and unlock upside potential revealed during successful open pit optimisations
conducted recently as part of the DFS.

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In addition, Bardoc Gold continues to make excellent progress with metallurgical testwork programs and has recently received indicative term sheets from potential off-take partners for the gold concentrate it intends to produce, allowing it to short-list preferred off-takers.

 

Optimisation reveals new upside opportunities as DFS moves up a gear
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Key Points:
• +7,000m in-fill program underway at the cornerstone Excelsior, Zoroastrian and Aphrodite deposits aimed at growing mining reserves following recent mining optimisations.
• Indicative term sheets received for gold concentrate off-take with short-listing of groups now underway. Initial responses demonstrate upside on the assumptions used in the March 2020 Pre-Feasibility Study.
• Metallurgical programs progressing on schedule, with comminution testwork and modelling completed with extensive progress made on the flotation testwork.
• Experienced Environmental and Stakeholder Manager, Helen Chernoff, has joined the Company.

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• The DFS remains on schedule for completion in the March Quarter 2021.

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.To read the full news release, please click HERE

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.Company highlights – Bardoc Gold Limited (ASX: BDC)

Focused on building a substantial long-term gold business in Western Australia’s Eastern Goldfields through a combination of exploration, acquisition and strategic consolidation.

In September 2019, Bardoc announced a 17% increase of the Global Mineral Resource to 3.02 M oz following a successful drilling and acquisition strategy, supporting open pit and underground mining studies; an important step towards its objective of building a significant new mid-tier Australian gold company.

The Company’s other assets include the South Woodie Woodie Manganese Project in WA’s Pilbara region.

Bardoc completed a transformational capital raising in July 2020, which was strongly supported by a number of leading Australian and international institutional and strategic investors. The capital raising increased Bardoc’s cash reserves to over $35 million, putting it in a very strong position as it makes the transition from explorer to developer to producer.

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   andrew@city-investors-circle.com