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OreCorp estimates 2.78 million-ounce maiden resource at Nyanzaga project

OreCorp Ltd.said March 31 that a maiden JORC 2012-compliant mineral resource of 21.3 milliontonnes at 4.1 g/t for 2.78 million ounces of gold, at a cutoff grade of 1.5 g/tof gold, was estimated at its Nyanzagaproject in Tanzania.

According to the release, 83% of the mineral resource is in themeasured and indicated categories, and 1.5 million tonnes at 3.5 g/t for 172,000ounces has been identified in the near-surface oxide and transitional zones.

The thickness and grade of the resource model will allow forthe consideration of open pit, underground and a combination of both mining scenarios,the company said.

OreCorp is earningup to a 51% joint venture interest in the Nyanzaga project from .