Sleeping Giant gold project, Canada

Image of gold nuggets

Photo by © Bloomberg

1st September 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Sleeping Giant gold project.

Greenstone belt of Abitibi, 80 km north of the town of Amos, in Quebec, Canada.

Project Owner/s
Abcourt Mines.

Project Description
The project is an underground mine that was operated until 2014.

A recently completed preliminary economic assessment (PEA) envisages a rapid startup of operations with minimal initial investment.

The project involves the extraction of 720 000 t of ore, including new stopes that can be accessed almost exclusively from existing levels.

Production will be split between levels N-145 and N-1110, and will require rehabilitation of the drifts, escapeway, shaft service compartment and existing infrastructure.

The stopes will be mined using longhole, shrinkage, and room-and-pillar methods, with a tonnage distribution of 27%, 30% and 43% respectively. Ore will be processed at Sleeping Giant’s concentrator plant, which has a capacity of between 700 t/d and 750 t/d.

Sleeping Giant has strong potential for mineral resource expansion, based on more than 800 mineralised structures remaining open at depth, down plunge and to the east. Future modelling could offer an increase in the potential of the project. Using nearly 50% of its capacity, the current ore-processing plant has excess capacity that could offer the opportunity to accept material from deposits surrounding the project.

Further, the contribution of other deposits could positively influence the economics of the PEA.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at a 5% discount rate, of C$54.4-million and an internal rate of return of 33.3%, with a payback of 2.1 years.

Capital Expenditure
Initial capital expenditure is estimated at C$42-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Abcourt Mines, tel +1 819 768 2857 or email

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor



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