Austral restarts Casposo precious metals mine
VANCOUVER (miningweekly.com) – ASX- and TSX-V-listed Austral Gold is restarting operations at its Argentina-based Casposo gold/silver project, based on the results of an updated reserve estimate.
As at June 30, Vancouver-based Austral reported compliant proven and probable reserves of 972 000 t grading 2.53 g/t gold and 231 g/t silver, containing about 79 000 oz of gold and 7.2-million ounces of silver. Measured and indicated resources, including reserves, stood at 1.4-million tonnes at 3 g/t gold and 238 g/t silver, containing about 136 500 oz gold and 10.8-million ounces silver.
The project, with a four-year mine life, has a calculated after-tax net present value, at a 5% discount, of $37-million.
It will implement an 800 t/d, or 300 000 t/y, operation for processing underground ore, producing 21 000 oz/y of gold and 1.7-million ounces a year of silver at all-in-sustaining costs of $1 038/oz gold equivalent.
The life-of-mine capital totals $41.7-million, including reclamation and closure costs.
Austral will fund the project from existing internal cash resources.
According to Austral, the technical report confirms that the optimisation of the plant and move to small-scale mining will support a robust and economically viable underground gold and silver mine.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation