Cerro del Gallo heap-leach gold project, Mexico
Name of the Project
Cerro del Gallo (CDG) heap-leach gold project.
Location
The project is located 30 km east of Guanajuato City, Guanajuato, Mexico.
Project Owner/s
Argonaut Gold.
Project Description
A prefeasibility study (PFS) has demonstrated the project as a long-life, low-cost asset in an attractive mining jurisdiction.
The project has been planned as an openpit, truck-and-shovel operation.
The PFS proposes that the CDG property will be mined by a mining contractor, using 91 t haul trucks and 13 m3 front-end loading equipment. Ore will be sent from the pit directly to the crusher prior to heap leaching. Mine throughput is estimated at six-million tonnes a year.
The PFS envisages production of about 64 000 oz/y of gold, 1.3-million ounces a year of silver and 2 400 t/y of copper over a 15.5-year mine life.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $290-million and an internal rate of return of 25.8%, with an after-tax payback period of 4.5 years.
Capital Expenditure
Initial capital costs are estimated at $134-million.
Planned Start/End Date
Completion is expected to take 18 months.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
Contact Details for Project Information
Argonaut Gold, tel +1775 284 4422 or email info@argonautgold.com.
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