Scoping study proves Katanning a hit
PERTH (miningweekly.com) – A scoping study into the Katanning gold project, in Western Australia, has confirmed the viability of a standalone operation, ASX-listed Ausgold said on Friday.
The scoping study estimated that Katanning could produce around 50 000 oz/y of gold, over a mine life of more than seven years, based on the current resource of 33.9-million tonnes, grading 1.1 g/t gold for 1.2-million ounces of contained gold.
The study estimated that the project would require a capital input of A$102-million, with C1 operating costs estimated at A$1 276/oz, while the pre-tax net present value had been estimated at A$77-million and the internal rate of return at 28.2%.
“The scoping study is a huge step forward for the Katanning gold project, highlighting as it does the potential for a standalone mining operation,” said Ausgold MD Matthew Greentree.
He noted that the scoping study had been completed to a high standard, and provided a realistic base case at an A$2 000/oz gold price, providing an attractive pay-back period of less than two-and-a-half years.
“The scoping study highlights the potential for the development of a robust standalone gold operation, and as a result, the Ausgold board has approved the commencement of further studies, metallurgical testwork and new drilling programmes with the aim of expanding the current resource with a focus of targeting high-grade mineralisation to expand the current resource within the central zone.”
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