Fair Bride gold project, Mozambique
Name and Location
Fair Bride gold project, Mozambique.
Client
Auroch Minerals.
Project Description
A preliminary economic assessment (PEA) of the Fair Bride deposit has confirmed the technical and economic viability of the project. The PEA has been based on the measured and indicated portions of the updated mineral resource estimate for Fair Bride of 9.5-million tonnes at 3 g/t for a contained 923 000 oz of gold at a cutoff grade of 1 g/t of gold.
Once ramp-up is achieved, Fair Bride will deliver an average steady-state production profile of 46 700 oz/y of gold. There is an expectation of increasing the mine life by adding further ore along strike to the west, and at depth, as well as over 150 000 oz already defined at other targets throughout the Manica gold project 3990C mining licence.
The PEA is based on a conventional openpit, treating oxide and transitional ore through a standard carbon-in-leach (CIL) circuit at a rate of 500 000 t/y. The deeper transitional and sulphide ore will be processed through a flotation circuit, with recoveries of more than 95% of the gold from final concentrate mass pull of less than 12% to 13% proven in testwork. Net Present Value/Internal Rate of Return
The project has a net present value, at an 8% discount rate, of $50.3-million and an internal rate of return of 57.5%.
Value
Initial start-up capital is estimated at $28.4-million. Underground development costs are estimated at $14.8-million.
Duration
Not stated.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Auroch Minerals tel +27 11 581 7673, fax +27 11 880 1270 or email admin@aurochminerals.com.
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