Bloomberg
Name
Otso (formerly Laiva) mine.
Location
Central Finland, 80 km south from the City of Oulu.
Mine Owner/s
Otso Gold.
Brief Description
The Otso mine is a developed, fully permitted mine and has all infrastructure in place, two openpits and is currently in the ramp-up towards commercial production at a nameplate capacity of two-million tonnes a year.
Brief History
The Otso gold mine started production in January 2012, and ceased in December 2013. The mill continued to operate, processing low-grade stockpile material until March 2014.
In November 2021, Otso restarted production.
Primary Metals/Minerals
Gold.
Secondary Metals/Minerals
None stated.
Geology/Mineralisation
The Otso gold deposit is located in the Svecofennian orogenic belt, part of the Archean-Palaeoproterozoic Fennoscandian Shield, which formed about 1 900 Ma.
The deposit is an orogenic deposit with gold hosted in shears. The current focus for mining is on an area of 988 000 m2 that is well defined to the east and west of a local shear. The quartz sulphide veins carry the gold mineralisation and are found in areas where they are easily identified and other areas where they cannot be seen with the naked eye as they are microveins within the mineralised areas.
Reserves
Total proven and probable openpit reserves as at November 5, 2021, were estimated at 10.49-million tonnes grading 1.08 g/t gold for 365 400 troy ounces of gold.
Resources
Total measured and indicated mineral resources as at August 5, 2021, were estimated at 15.12-million tonnes grading 1.08 g/t gold for 527 200 troy ounces of gold. Inferred resources were estimated at 7.33-million tonnes grading 1.17 g/t gold for 276 000 troy ounces of gold.
Mining Method
Openpit.
Major Infrastructure/Equipment
The mine includes a state-of-the-art 6 000 t/d processing plant, with a nameplate production throughput of two-million tonnes a year.
Prospects
In November 2021, Otso announced the completion of a National Instrument 43-101-compliant feasibility study on the Otso gold mine.
The feasibility study includes the mine designs and production plan, which will underpin Otso’s long-term production, as well as optimisations to the milling circuit being implemented by the company.
The study provides Otso with reserves to underpin a minimum five-year mine life.
The company has said that it will continue its exploration and infill drilling programme to replace and expand its reserve base on an ongoing basis.
Contact Details
Otso Gold Corporation
Tel +1 416 572 2214
Email info@otsogold.com
Website https://www.otsogold.com/
Sources
Otso Gold Corporation. https://www.otsogold.com/ (accessed January 5, 2022).