Steam Energy gold project, Australia
Name of the Project
Steam Energy gold project.
Location
Queensland, Australia.
Project Owner/s
Gold miner Superior Resources.
Project Description
A scoping study has highlighted an opportunity to develop the project as a low capital expenditure, financially and technically robust openpit mining and toll treatment operation.
The study is based on the March 2021 revised mineral resource estimate of 1.73-million tonnes at 2.2 g/t gold for 122 000 oz of gold.
An opencut mining and toll treatment operation has been selected for the base case scenario for the study.
Pit optimisation and mine planning exercises have resulted in pit shells that are amenable to mining 1.13-millon tonnes at 2.31 g/t gold to recover 70 000 oz of gold.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 7% discount rate, of A$21.2-million and an internal rate of return of 242%, with a payback of 11 months.
Capital Expenditure
A$5.1-million.
Planned Start/End Date
Not stated.
Latest Developments
As a result of the positive scoping study, a feasibility study will start immediately, along with further metallurgical testwork and drilling programmes aimed at expanding the current mineral resources, including a maiden drilling programme at the project’s Dinner Creek lode.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Superior Resources, tel +61 7 3847 2887 or email manager@superiorresources.com.au.
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