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Luiri Gold says a feasibility study for its Dunrobin gold project in Zambia has proved it is technically feasible and economically robust.

Luiri said the study estimated an ungeared internal rate of return of 37 per cent with a net present value (at 7.5% real discount rate) of $US24.9 million.

Gold production is forecast to be 85,000 ounces over an eight-year mine life with initial capital expenditure of $US20 million and cash costs of $US790 an ounce.

The study put total revenues at $US137 million and net pre-tax post-royalty cash flow at $US48 million based on an average gold price of $US1550 an ounce over the life of the mine.

Luiri said Dunrobin, which hosts a resource of 10.53 million tonnes at 2.2 grams per tonne gold, for 760,000 ounces of gold, was ready to be developed with discussions with financiers already underway.

Luiri Gold chief executive Dr Evan Kirby said the company was confident of securing a large component of the capital required from debt sources, thereby reducing the stress on the company's balance sheet.

He said the company was hoping to secure initial debt funding for Dunrobin during this quarter.

Dunrobin is one of two deposits in the company's wider Luri Hill Gold Project, with the other deposit being Matala.

Luiri shares were up 0.7 cents, or 20 per cent, to 4.2 cents at 10.50am.