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Australia
Costerfield Operation

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 Location:
10 km E from Heathcote, Victoria, Australia

  Address:
1023 Heathcote Nagambie Rd
Costerfield
Victoria, Australia
3523
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  • Overview
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  • Mining
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  • Production
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  • Costs & Financials
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  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Gold
  • Antimony
Mining Method
  • Longhole stoping
  • Longitudinal retreat
  • Longitudinal stoping
  • Cemented backfill
Production Start...
Mine Life5 years (as of Jan 1, 2021)
Costerfield Operation includes encompasses the underground Augusta Mine including the Augusta, Cuffley, Brunswick, Youle and Shepherd Deposits; the Brunswick Processing Plant; Splitters Creek Evaporation Facility; Brunswick and Bombay Tailings Storage Facilities (TSF) and associated infrastructure.


Owners

Source: p. 5
CompanyInterestOwnership
Mandalay Resources Corp. 100 % Indirect
Mandalay Resources Australia Pty Ltd. (operator) 100 % Indirect
Mandalay Resources Australia Pty (“MRA”), formerly Australian Gold Development (“AGD”), is a private Australian Corporation that operates Costerfield. MRA owns 100% of the voting securities of its sole subsidiary, Mandalay Resources Costerfield Operations Pty.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Mesothermal


Summary:

The Costerfield Property lies within a broad gold-antimony province mainly confined to the Siluro-Devonian Melbourne Zone of Victoria. The narrow quartz-stibnite-gold veins of the Melbourne Zone are mesothermal to orogenic in nature and are a product of a 380 Ma to 370 Ma tectonic event. Gold in Central Victoria is believed to have been derived from the Cambrian greenstones that underlie the entire province at depth, however the origin of the associated antimony has been less studied.

The mineralisation at Costerfield occurs as narrow veins or lodes, typically less than 50 cm wide and hosted within unmetamorphosed (anchizone) mudstone and siltstone of the Lower Silurian Costerfield Formation.

Typical lode material at Costerfield consists of gold-bearing quartz and carbonate with massive stibnite either as the latest stage vein fill or segregated to one contact of the vein. The average grade of this material is approximately 9 g/t Au (often greater than 20 g/t) and 4% antimony (Fromhold et. al. 2017). A variety of accessory minerals are associated with the mineralisation, including pyrite, arsenopyrite, aurostibite, pyrrhotite, muscovite, sphalerite and galena within the vein. Wallrock alteration minerals are dominantly pyrite, arsenopyrite and ferroan carbonate spotting, surrounded by a broader, visually cryptic halo of muscovite replacing phengite. Small crystals of barite and bournonite are often seen in chlorite-coated joints near the lodes.


Mining Methods

  • Longhole stoping
  • Longitudinal retreat
  • Longitudinal stoping
  • Cemented backfill


Summary:

The Augusta Mine is serviced by a decline haulage system developed from a portal within a box-cut. The Augusta decline dimensions are primarily 4.8 m high by 4.5 m wide at a gradient of 1:7 down. The majority of the decline development has been completed with a twin-boom jumbo; however, development of the decline from the portal to 2 Level was completed with a road-header, this section of decline has dimensions of 4.0 m high by 4.0 m wide. The Augusta decline provides primary access for personnel, equipment and materials to the underground workings.

The Brunswick Incline development was mined to breakthrough into the Brunswick Open pit, establishing the Brunswick Portal during the second half of 2020. The Brunswick Incline has the dimensions 4.8 m high by 4.5m wide at a gradient of 1:7 up and was mined with a twinboom jumbo. The Brunswick Open Pit was prepared for the portal breakthrough with a pushback completed by a combination of road-header and drill and blast supported by a twinboom jumbo. The first 20 m advance of Brunswick Portal was completed by a road-header with the dimensions 5.0 m high by 5.0 m wide at a gradient of 1:25 up. The establishment of the Brunswick Portal provides an additional means of egress from the mine and is the primary material haulage route from underground to the Brunswick Mill for ore processing and waste
storage.

Mill feed is produced from three different mining methods: full-face jumbo development, long-hole CRF ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Production:
In August 2020, work commenced on developing the Brunswick Portal, which is used primarily for trucking of ore to the ROM pad. The first haulage of ore took place via the Brunswick Portal in November 2020.

CommodityProductUnits2022202120202019201820172016
Gold Payable metal koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required223241
Antimony Payable metal t  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Equivalent Payable metal koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Concentrate kt  ......  Subscription required6.59.110
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Ore tonnes mined  ......  Subscription required  ......  Subscription required137,536 t151,557 t140,638 t158,351 t
Tonnes processed  ......  Subscription required  ......  Subscription required141,090 t155,744 t151,759 t154,409 t
Annual processing capacity  ......  Subscription required  ......  Subscription required150,000 t150,000 t
Daily processing rate  ......  Subscription required  ......  Subscription required420 t
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Reserves at December 31, 2021:
A 3.0 g/t AuEq cut-off grade over a minimum mining width of 1.2 m is applied for resources report.
A 3.8 g/t Au Equivalent (AuEq) cut-off grade has been applied for reserves report.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven Stockpiles 41 kt Gold 10.1 g/t 14 koz
Proven In-Situ (UG) 267 kt Gold 15.9 g/t 136 koz
Proven Stockpiles 41 kt Antimony 3.3 % 1.4 kt
Proven In-Situ (UG) 267 kt Antimony 4.4 % 11.7 kt
Probable In-Situ (UG) 460 kt Gold 10.9 g/t 162 koz
Probable In-Situ (UG) 460 kt Antimony 1.4 % 6.5 kt
Proven & Probable Total 769 kt Gold 12.6 g/t 312 koz
Proven & Probable Total 769 kt Antimony 2.5 % 19.6 kt
Measured Stockpiles 41 kt Gold 10.1 g/t 14 koz
Measured In-Situ (UG) 408 kt Gold 15.4 g/t 202 koz
Measured Stockpiles 41 kt Antimony 3.3 % 1.4 kt
Measured In-Situ (UG) 408 kt Antimony 5 % 20.4 kt
Indicated In-Situ (UG) 938 kt Gold 8.6 g/t 259 koz
Indicated In-Situ (UG) 938 kt Antimony 1.9 % 17.5 kt
Measured & Indicated Total 1,387 kt Gold 10.6 g/t 474 koz
Measured & Indicated Total 1,387 kt Antimony 2.8 % 39.3 kt
Inferred In-Situ (UG) 532 kt Gold 6.7 g/t 114 koz
Inferred In-Situ (UG) 532 kt Antimony 1.3 % 6.7 kt

Commodity Production Costs:

CommodityUnits2022202120202019201820172016
Cash costs Gold Equivalent USD  ......  Subscription required&nbs  ......  Subscription required  ......  Subscription required  ......  Subscription required 961 / oz   701 / oz   640 / oz  
All-in sustaining costs (AISC) Gold Equivalent USD  ......  Subscription required&nbs  ......  Subscription required  ......  Subscription required
All-in costs Gold Equivalent USD  ......  Subscription required 1,407 / oz   991 / oz   890 / oz  
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operating Costs:

Units2021202020192018201720162015
UG mining costs ($/t milled) USD 142143148145169152148
Processing costs ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Financials:

Units2022202120202019201820172016
Capital expenditures (planned) M USD  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 22.4   10.9   8  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 48   63.2   74.9  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -5.3   10.4   20.5  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -5.3   7   18.5  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -3.8   5.4   15  
EBIT M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -5.7  
EBITDA M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 10.4   24.6   34.6  
Subscription required - Subscription is required



Heavy Mobile Equipment as of December 31, 2021:
HME TypeModelQuantity
Drill (long hole) ....................... Subscription required ....................... Subscription required
Drill jumbo (single boom) ....................... Subscription required ....................... Subscription required
Load-Haul-Dump (LHD) ....................... Subscription required ....................... Subscription required
Load-Haul-Dump (LHD) ....................... Subscription required ....................... Subscription required
Load-Haul-Dump (LHD) ....................... Subscription required ....................... Subscription required
Telescopic Handler ....................... Subscription required ....................... Subscription required
Trans Mixer ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 31, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 31, 2021
....................... Subscription required ....................... Subscription required Subscription required Oct 31, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 31, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 31, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2021
Subscription required Subscription required Subscription required 2020
Subscription required Subscription required Subscription required 2019
Subscription required Subscription required Subscription required 2018
Subscription required Subscription required Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Information Form 2018
Management Discussion & Analysis 2018
Press Release 2018
Press Release 2018
Management Discussion & Analysis 2017
Technical Report 2017
Annual Information Form 2016
Management Discussion & Analysis 2016
Press Release 2016
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