The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Additional gold expected to boost economics of future mine North of 60 Mining News – December 4, 2020
The aurora borealis lights up the sky over a drill testing new high-grade gold zones at the Goose mine project on Sabina's Back River project in Nunavut.
Sabina Gold & Silver Corp. Dec. 2 reported that an updated feasibility study for the proposed Goose Mine on its Back River gold project in Nunavut is slated for completion early in 2021.
A feasibility study completed in 2015 details plans for developing four deposits at the Goose mine project – Goose, Llama, Umwelt, and Umwelt Underground. Ore from these deposits would feed a 3,000-metric-ton-per-day mill forecast to produce an average of roughly 200,000 ounces of gold per year over an 11.8-year mine life.
This study was based on 28.2 million metric tons of measured and indicated resources averaging 5.87 grams per metric ton (5.33 million oz) gold; and 7.75 million metric tons of inferred resources averaging 7.43 g/t (1.85 million oz) gold.
The more than 50,000 meters of drilling completed by Sabina since the completion of this resource and feasibility study has discovered new gold zones at Goose, including the two separate high-grade underground zones at Umwelt, and significantly extended the previously known deposits.
In 2020, exploration and infill drilling focused on areas that could positively impact the mine plan. Due to COVID-19, however, the amount of drilling needed to define reserves was not achievable for all the new deposit areas. The updated resource estimate will include upgrades to Umwelt, Goose, and Echo; as well as new inferred resources at the Nuvuyak and Llama Extension deposits.
Sabina says its internal studies show the expanded and new gold zones could significantly increase annual production and mine life, which is expected to improve the overall financial metrics of the Goose Mine over the already positive economics demonstrated in the 2015 feasibility study.
"The significant exploration success we have delivered since the September 2015 feasibility study has been incorporated into the resource estimate and mine plan, along with many other improvements to the project," said Sabina Gold & Silver President and CEO Bruce McLeod. "This work continues to showcase the Goose Mine as a very compelling project – the first of many opportunities on Sabina's 80-kilometer- (50 miles) long Back River belt."
The feasibility study is expected to be completed during the first quarter of 2021.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
Reader Comments(0)