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Kalgoorlie North project, Australia

27th June 2014

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

  

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Name and Location
Kalgoorlie North project, Australia.

Client
Excelsior Gold.

Project Description
A prefeasibility study (PFS) completed on the Kalgoorlie North project is based on the development of a multiple openpit and underground mining operation, centred on the Zoroastrian gold system and located 45 km north of Kalgoorlie-Boulder, in Western Australia.

The PFS ore reserves are 7.64-million tonnes at 2 g/t of gold for 491 600 oz of gold. Significant potential exists for underground ore-reserve expansion at Zoroastrian.

The PFS incorporates the construction of a new standalone one-million-tonne-a-year conventional carbon-in-leach (CIL) gold treatment plant to process ore sourced from the large openpits at the Zoroastrian and Excelsior deposits and seven smaller satellite pits, as well as underground ore from mechanised stope designs on a portion of the large Zoroastrian gold system.

The facility consists of a primary and secondary crusher, a ball mill, gravity gold recovery, CIL and carbon elution, as well as electrowinning and smelting circuits to produce gold doré.

Average yearly production is estimated at 60 800 oz of gold over an estimated 7.5-year mine life.

Value
Preproduction capital is estimated at A$76.73-million.

Duration
Not stated.

Latest Developments
Excelsior has accepted a credit offer of up to A$4-million through a convertible loan facility from Macquarie bank. The facility will provide working capital to complete a definitive feasibility study (DFS) on the Kalgoorlie North project.

The DFS will evaluate the construction of a new standalone one-million-tonne-a-year treatment plant and other possible toll milling and joint venture scenarios.

The facility is subject to several customary conditions precedent.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Excelsior Gold, tel +61 8 9335 7770 or fax +61 8 9335 6231.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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