PERTH (miningweekly.com) – First production from the Tuvatu alkaline gold project, in Fiji, is still on track for the fourth quarter of this year, triple-listed Lion One Metals said on Thursday.
The ASX- and TSX-V-listed company noted that mine construction was 75% complete and remained on track. Earthworks and concrete works were also 70% complete, with over 3 500 m3 of concrete poured to date.
Once complete, Lion One plans to operate the processing plant at an initial production capacity of 300 t/d for the first 18 months of operations before increasing the capacity to 500 t/d in mid-2025.
A 2020 preliminary economic assessment indicated that the project would have a mine life of five years producing 331 369 oz of gold at a yearly rate of 77 969 oz/y.
The company is fully funded to complete mine construction and bring the Tuvatu alkaline gold project into production by the end of the year.