PERTH (miningweekly.com) – Initial results from the definitive feasibility study (DFS) of ASX-listed Red Mountain Mining's Batangas gold project, in the Philippines, have delivered a significant increase in gold recovery and a new production schedule.
The previously completed scoping study demonstrated the potential for a viable gold mining and processing project that could deliver about 90 000 oz of gold over a four-and-a-half-year mine life.
However, a revised production schedule has indicated a potentially longer mine life and increased production.
“The initial results from the DFS are encouraging and indicate a potentially longer initial mine life and greater gold recovery compared with the scoping study outcomes,” said Red Mountain MD Jon Dugdale.
The new revised production schedule was based on the new indicated resource, and included a high-grade mining inventory of 1.08-million tonnes, grading 3 g/t gold and 10.3 g/t silver.
Based on the scoping study’s production rates of 100 000 t/y from the South West Breccia deposit and 250 000 t/y from the Kay Tanda West deposit, along with the new metallurgical recovery assumptions, this would allow for an increased mine life of five-and-a-half years, and a production of some 100 000 oz/y of gold equivalent.
The completion of the DFS was planned to coincide with the expected final permitting of the Batangas project.