Name of the Project
Aphrodite gold project.

Location
Western Australia.

Client
Aphrodite Gold.

Project Description
Aphrodite has an openpit mineral resource estimate of 10.2-million tonnes grading 1.8 g/t gold for 598 000 oz.

The underground mineral resource is estimated at 2.9-million tonnes grading 7 g/t gold for 663 000 oz, which has prompted a review of the 2013 underground mining study.

A prefeasibility study on the project has proposed a carbon-in-leach (CIL) operation processing about 447 000 t of ore grading 2.6 g/t gold to deliver an estimated 38 000 oz of gold. 

If a pressure oxidation (POX) process is incorporated, it would process about 2.7-million tonnes of ore grading 2.2 g/t gold to deliver about 187 000 oz of gold.

Given the steep nature of the mineralised bodies, it is likely that part of the resource will be extracted by openpit methods and the remainder by underground methods.

The openpit operation is expected to have a mine life of about three years, based on the current resource.

Jobs to Be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
A capital injection of A$81-million will be required for a one-million-tonne-a-year CIL operation, and will increase to A$123-million if a POX is incorporated.

Duration
Not stated.

Latest Developments
The baseline surveys commissioned have proven to be sufficient to provide the basis for starting government and regulatory approvals, including clearing permits, and the project management and mine closure plan.

The company plans to conduct a A$10-million definitive feasibility study (DFS), starting in July, which will likely take between six to nine months to complete. The DFS will include further drilling, as well as mining, metallurgical and civil studies.

Aphrodite will likely also start discussions with potential lenders and equity providers for the funding required to start construction of the on-site production facilities, assuming the results of the DFS support these findings.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Aphrodite Gold, tel +61 3 8609 6321, fax +61 3 9331 7323 or email info@aphroditegold.com.au.