Revised mine plan gives Gidgee new life – Panoramic
PERTH (miningweekly.com) – An alternative development scenario over ASX-listed Panoramic Resources’ Gidgee gold project, in Western Australia, has identified significant cost savings.
In a 2012 scoping study, Panoramic contemplated mining from a combination of various underground and openpit sources, including the Swan Bitter, Swift, Howards, Toedter, Specimen Well and an underground ore from the Wilsons pit.
Under the scoping study, the ore would be treated through a 1.05-million-tonne-a-year processing plant to produce some 606 000 oz of gold over an initial seven years, or averaging between 80 000 oz/y and 90 000 oz/y.
The scoping study assumed an upfront capital cost of A$127-million.
However, Panoramic said on Tuesday that following the 2013 drilling programme and the significant increase in the gold resource at Gidgee, the company had taken the decision to expand the bankable feasibility study on Gidgee to include a separate development option, which would focus solely on mining the high-grade Wilsons deposit.
The new development option involved traditional underground mining methods, and processing the ore on site to produce a gold concentrate that would either be sold to a third party, or processed on site to produce gold dore.
The Wilsons Only concept would mill 300 000 t/y of ore to produce between 45 000 oz/y and 50 000 oz/y.
Under the Wilsons Only scenario, upfront capital would be reduced to between A$60-million and A$70-million.
Panoramic is now completing mining approval documentation, which would likely be lodged in December.
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