15 Mile project, Canada

8th December 2023 By: Sheila Barradas - Creamer Media Research Coordinator & Senior Deputy Editor

15 Mile project, Canada

Name of the Project
15 Mile project.

Location
Trafalgar, in Nova Scotia, Canada.

Project Owner/s
St Barbara.

Project Description
The project comprises four openpits – Egerton-Maclean, Plenty, Hudson and 149 – with proven and probable reserves of 18.47-million tonnes grading 1.04 g/t gold for 618 000 oz of gold.

The project will be mined using a conventional drill, blast and haul setup, and is expected to produce 55 000 oz/y to 60 000 oz/y of gold over the 11-year life-of-mine.

The project has been modified from producing flotation and gravity concentrates to delivering gold doré bars through conventional gravity and carbon-in-leach cyanidation techniques.

The change of project design allows for the reuse of the existing Touquoy processing plant.

The primary production equipment includes 4.5 m3 bucket production excavators and 64 t payload off-highway mining trucks.

The 24.5-million-cubic-metre tailings management facility will be centreline construction and comprise a “starter” storage facility followed by subsequent engineered lifts during operation.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value (NPV), at a 5% discount rate, of C$174-million at a gold price of $1 700/oz, and an internal rate of return (IRR) of 22%.

Payback is estimated at 4.3 years.

The project has a pretax NPV, at a 5% discount rate, of C$329-million at a gold price of $1 900/oz, and an internal rate of return of 29.2%. Payback is estimated at 3.4 years.

Capital Expenditure
Initial capital expenditure is estimated at C$182-million, including mine preproduction, mine fleet, processing and infrastructure.

Planned Start/End Date
The start of development is considered achievable in mid-2026.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
St Barbara, tel +61 8 9476 5555 or email info@stbarbara.com.au.