Name of the Project
Centrogold project.

Location
The project is located in the state of Maranhão, in northern Brazil.

Client
Avanco Copper.

Project Description
A scoping study on the project has indicated strong potential for a high-grade low capital expenditure gold mining operation, with an 11-year mine life.

The project comprises three neighbouring deposits – Contact, Blanket and Chega Tudo, with total mineral resources of 32.8-million tonnes grading 2.1 g/t gold. The study proposes conventional drill-and-blast, load-and-haul from Contact to Blanket to the run-of-mine (RoM) stockpile adjacent to the plant. 

Ore from the more remote Chega Tudo pit will be hauled 8 km to the RoM using off-road trucks. Mining is envisaged to be undertaken by a mining contractor, with Avanco providing management and technical services.

The mobile fleet is expected to include:

• two Liebherr R9150 hydraulic excavators,
• ten CAT 7777 dump trucks,
• three cat D9T dozers,
• two 16M graders,
• two off-road water trucks, and three Sandvik DP1500i Pantera drill rigs.

Processing entails primary crushing, semiautogenous grinding milling, secondary ball milling, gravity concentration in the ball milling circuit, gravity concentrate intensive leach, froth flotation, flotation concentrate carbon-in-leach, elution and electrowinning to refine to doré.

The process plant is designed for 2.5-million tons a year RoM for 129 900 oz/y of gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a net present value, at a 10% discount rate of $231.6-million and an internal rate of return of 73%, with a capital payback of 24 months.

Value
Preproduction capital is estimated at $108-million.

Duration
Not stated.

Latest Developments
None stated.

Key Contracts and Suppliers
MIPTEC Belo Horizonte (financial modelling, site infrastructure/basic engineering and process engineering); CSA Global (resource estimation and pit optimisation/production targets); AU@BR (metallurgical testwork); Antonio Landi Borges and GHT Consultoria of São Paulo (tailings dam design) and FFA Legal (legal).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Avanco Copper, tel +61 8 9324 1865 or email info@avancoresources.