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DRD
DRDD
DRD - DRDGold - Ergo JV: Initial Samrec Compliant Gold Resource
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the Company")
ERGO JV: INITIAL SAMREC COMPLIANT GOLD RESOURCE
Further to the DRDGOLD announcement released on 26 November 2007 regarding the
expansion of its East Rand gold tailings treatment joint venture with Mintails
Limited of Australia ("the ERGO JV"), DRDGOLD is pleased to announce a new
SAMREC compliant Measured Resource for the Elsburg Tailings Complex.
The ERGO JV was established to explore, evaluate and process approximately 1.7
billion tonnes of surface gold, uranium and sulphur bearing tailings on the East
and Central Rand goldfields of South Africa. The ERGO JV will refurbish and
utilise the full ERGO plant which previously produced significant quantities of
gold, uranium and sulphuric acid.
Recent sampling and technical evaluation by RSG Global of the Elsburg Tailings
Complex only has established a new SAMREC compliant Measured Resource containing
an estimated 1.6 million ounces of gold as described below:
Measured Mineral Resource Statement for Elsburg Tailings Complex
(November 2007)
Dump Tonnes Grade Au Au
(Mt) (g/t) (Tonnes) (Moz)
4/L/48 and 114.0 0.33 37.3 1.20
4/L/49
4/L/47 and 34.2 0.26 8.7 0.28
4/L/47A
4/L/50 23.4 0.25 5.9 0.19
Total 171.6 0.30 51.9 1.67
* It has been assumed that the tailings dams would be mined in their entirety,
therefore no cut off grades or losses were included in the estimation.
The above resources refer only to gold mineralisation. Further analysis is
planned to be undertaken for uranium and sulphur content within the next two to
six months.
The Elsburg Tailings Complex, which was introduced to the ERGO JV by DRDGOLD,
represents approximately 10% of the total 1.7 billion tonnes of tailings
materials forming the ERGO JV. The ERGO JV intends to continue with an ongoing
programme of resource evaluation and upgrade to properly identify and classify
the gold, uranium and sulphur content of all of its tailings materials.
Phase 1 of the ERGO JV will be confined to gold production only and is based on
the refurbishment of one of the carbon in leach circuits at the Brakpan plant to
treat and process approximately 15 million tonnes a year to produce an estimated
75 000 ounces of gold a year.
Randburg
18 December 2007
Sponsor
BDO QuestCo
Date: 18/12/2007 08:30:01 Produced by the JSE SENS Department.
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