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Italy

Gorno Project

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Gorno Project

Location: 23 km NNE from Bergamo, Italy

Project Contacts:

Via Roma 492 24013 Oltre il Colle
Bergamo
Italy
24013

Contacts:

Additional Resources for Suppliers & Investors

Categories

Overview

Mine TypeUnderground
StagePreliminary Economic Assessment
Commodities
  • Zinc
  • Lead
  • Silver
  • Lead-Silver
Mining Method
  • Drift & Fill
  • Longitudinal retreat
  • Transverse stoping
Backfill type ... Lock
Mine Life... Lock
SnapshotGorno is largely a “brown-fields” project due to the extensive historical mining activities, which ceased in the 1980s. The area benefits from well-developed existing infrastructure, including roads, grid power, water, sanitation and several nearby towns with plentiful available accommodation and facilities.

At the Gorno Project activities continued towards completing the Phase 1 Definitive Feasibility Study, which is intended to provide technical inputs necessary to specify the project’s environmental impacts and therefore support the proposed mining licence application.

Owners

SourceSource
CompanyInterestOwnership
Appian Capital Advisory LLP 26.1 % Indirect
Altamin Ltd. 73.9 % Indirect
Vedra Metals SRL (operator) 100 % Direct
Gorno is owned and operated by Vedra Metals Srl, a special

purpose joint-venture company established by Altamin in 2022.

On 19 January 2024 Vedra Metals Srl completed a drawdown of a further US$2,000,000 of funding for the Gorno Project. As a result, Appian Italy B.V.’s interest in the joint venture company has increased from 21.14% to 26.10%.

Contractors

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SourceSource

Deposit type

  • Mississippi Valley Type
  • Stratabound
  • Breccia pipe / Stockwork

Summary:

The Gorno mineral district is an Alpine Type lead-zinc deposit similar to Mississippi Valley Type (MVT) lead-zinc deposits. The mineralisation is broadly stratabound with some breccia bodies and veining also observed. Higher grade and thicker mineralisation are often associated with late-stage brittle faulting which is generally orientated north-south or east-west. The mineralogy is simple consisting of low iron sphalerite, argentiferous galena and minor pyrite. Mineralisation is hosted by the Metallifero Formation which consists predominantly of limestones with interbedded shales in the higher parts of the sequence. The Gorno deposit lies in the “Lombard Basin” of the Italian Southern Alps where during the Permian- Triassic periods a thick sedimentary pile was formed as a result of strong subsidence.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Zinc Payable metal M lbs 743
Zinc Concentrate kt 85630
Lead Payable metal t 77,748
Silver Payable metal koz 3,180
Lead-Silver Concentrate kt 14108

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Annual processing rate  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
* According to 2021 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Zinc Equivalent USD  ....  Subscribe
C1 cash costs Zinc Equivalent USD  ....  Subscribe
Assumed price Lead USD  ....  Subscribe
Assumed price Zinc USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
* According to 2021 study / presentation.

Operating Costs

Currency2021
UG mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2021 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 97.9
Total OpEx $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2024
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2024
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2024

Aerial view:

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