Name of the Project
Bird-in-Hand gold project.

Location
The project is situated on the site of the historic Bird-in-Hand gold mine, in Adelaide Hills, South Australia.

Client
Terramin Australia.

Project Description
The Bird-in-Hand project has a Joint Ore Reserves Committee-compliant resource of 650 000 t at 12.6 g/t for 265 000 contained ounces of gold and 5.8 g/t for 122 000 contained ounces of silver.

The project will involve the underground mining of gold-bearing ore at the Bird-in-Hand site, the transportation of ore to Angas zinc mine for processing and sale of gold concentrate products to market.

Over the five year life-of-mine, the plant will produce an average of 8 000 dry metric tonnes of concentrate a year containing, 47 000 oz of gold and 22 000 oz of silver at 11 g/t gold and 5 g/t in silver by-product credits.

The project has a four-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$102-million and an internal rate of return of 96%, with a payback of one year.

Value
Total preproduction capital for the project is estimated at A$34-million.

Duration
Not stated.

Latest Developments
Terramin is finalising documentation to support a mining lease application (MLA) for the project and a miscellaneous purpose lease (MPL) to allow Angas zinc mine to treat material mined from Bird-in-Hand. Terramin successfully completed managed aquifer recharge Phase 1 trials in October with MAR re-injection phase trials to follow in the first quarter of 2019.

The company expects to be able to submit the MLA and MPL applications by the end of the first quarter in 2019 or early in the second quarter of 2019. Terramin envisages a 12-month approval process post-submission of the MLA and MPL.

Once approved, Terramin will require a programme for environment protection and rehabilitation, which is well advanced.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Terramin Australia, tel +61 8 8213 1415 or email info@terramin.com.au.