PROJECT

Projects

Summary of Investment Information

Project Number

34022

Company Name

CRUSADER RESOURCES LIMITED

Date SPI Disclosed

Apr 28, 2014

Country

Brazil

Region

Latin America and the Caribbean

Projected Board Date

May 30, 2014

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Infra-WBG Dir. Minerals & Metals

Industry

Metals and Mining

Previous Events

Approved : May 30, 2014
Signed : May 30, 2014
Invested : Jun 26, 2014

Sector

Gold

Project Description

Crusader Resources Ltd. (“Crusader” or “the Company”) is a junior mineral exploration company organized and existing under the laws of Western Australia, Australia. The Company is focused on the development of the Borborema Gold Project (“Borborema” or the “Project”) located in Rio Grande do Norte, in Northeastern Brazil. Borborema, Crusader’s flagship project, is an advance gold exploration project which has a gold resource of 2.43Moz of which 1.6Moz (@1.18 g/t) are classified as reserves. The Project is at the feasibility stage and Crusader is currently conducting an optimization study to determine the Project’s optimal size. The Project hosts the old San Francisco mine which operated in the 1980s and produced 100,000 ounces of gold.

IFC’s investment will support the optimization study on Borborema and further exploration in the Serido belt in which the Project is located.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation