The all-in sustaining price (AISC) for gold, with copper as a byproduct credit score, is estimated at $334 per ounce. On a co-product foundation, the AISC is measured at $595 per ounce. Upfront capital price for the mission is $309 million.
The Hod Maden mission has confirmed and possible mineral reserves of two.45 million ounces of gold and 287 million kilos of copper. The research reveals a 13-year mine able to producing roughly 195,000 gold-equivalent ounces yearly, at a median head grade of 11.1 g/t AuEq.
The FS contemplates Hod Maden as an underground mine divided into two distinct mining zones. A modified drift and fill (DAF) method will probably be used on the higher mine space, whereas a protracted gap stoping (LHS) method will probably be utilized to the decrease mine space, the place the majority of the mineralization is positioned.
The mine capability is 800,000 tonnes each year with a complete of 8.7 million tonnes of ore produced in the course of the 13-year mine life.
The ore to be processed is classed into two essential classes: common ore and a pyrite ore with a flowsheet reconfiguration when processing pyrite ore to maximise gold restoration. The copper and pyrite concentrates are to be transported to a port positioned on the Black Sea in Turkey for cargo to smelting amenities.
“The discharge of the Hod Maden feasibility research is a significant turning level for not solely the mission, however for Sandstorm as effectively,” Nolan Watson, Sandstorm’s president and CEO, commented in a information launch.
“After we bought the stake in Hod Maden again in 2017, we knew that it will be a significant development catalyst for Sandstorm, and the constructive outcomes of this research spell out simply how transformational it will likely be as soon as in manufacturing,” he added.
With the discharge of the FS, the Hod Maden mission now strikes into the following stage of growth. In accordance with Sandstorm, the mission’s operator has commenced the appliance course of for the forestry allow after receiving the ultimate approval of the Environmental Impression Evaluation (EIA) earlier this month.
Manufacturing from Hod Maden is presently anticipated within the second half of 2024, the corporate added.