The prefeasibility study (PFS) for the Alpala project, in the Cascabel concession in northern Ecuador, has been delayed, LSE- and TSX-listed SolGold reported on Wednesday.
The company planned to deliver the PFS at the end of the third quarter, but Covid-19-related restrictions have limited physical access to the site, which resulted in geotechnical data not being available to meet the study schedule originally contemplated.
SolGold said that the PFS was well advanced, with current work focusing on the mine plant and production schedules to allow finalisation of tailings and concentrate production.
The developer pointed out that it would aim to complete the study “as soon as possible”.
The PFS will be based on the third mineral resource estimate, announced in April. At a copper-equivalent cutoff grade of 0.21%, the project has a mineral resource of 2.66-billion tonnes at 0.53% copper-equivalent for 9.9-million tonnes of copper, 21.7-million ounces of gold and 92.2-million ounces of silver in the measured and indicated categories.
The company previously pointed out that a high-grade core of 442-million tonnes at 1.4% copper-equivalent for 3.8-million tonnes copper, 12.3-million ounces of gold and 33.3-million ounces of silver supports early cash flows and accelerated payback of capital.