Name of the Project
Blyvoor gold tailings retreatment project.

Location
Carletonville, in Gauteng, South Africa.

Project Owner/s
Katoro Gold.

Project Description
A scoping study completed in May 2020 has found the project to be technically and economically robust. Potential measured and indicated mineral resources are estimated at 27.6-million tonnes grading 0.31 g/t gold. Inferred resources are estimated 106.03-million tonnes grading 0.3 g/t gold.

The project has a life-of-mine (LoM) of 25 years, with mining and processing planned to be undertaken at 250 000 t a month for the first 36 months, building to a production capacity of 500 000 t a month and 35 000 oz/y of gold. Overall production over the LoM is estimated at 661 171 oz of gold. Further feasibility work is required to complete trade-offs to determine the optimal processing and mining method.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The scoping study has demonstrated an unlevered net present value, at a 5% discount rate, of $131-million and an internal rate of return of 25%, with a payback of 5.3 years from the start of production.

Capital Expenditure
Capital expenditure is estimated $110-million.

Planned Start/End Date
Not stated.

Latest Developments
Katoro Gold has completed all the technical work pertaining to the upgrade and restatement of the Blyvoor gold tailings project resource statement, with specific reference to the resource and geotechnical drill programme.

About 1 500 samples were produced from the now completed resource drill programme and submitted for assay analysis. These assay results have now all been returned from the laboratory.

The results, in conjunction with the confirmatory metallurgical and geotechnical results, are being interpreted and integrated into the various key technical reports.

The final reports, with an updated resource and reserve statement and South African Code for the Reporting of Mineral Asset Valuation, or SAMVAL Code, valuation report, are expected to be received by the company during November.

Key Contracts and Suppliers
Minxcon (scoping study).

Contact Details for Project Information
Katoro Gold, email info@katorogold.com.