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Canada
Sleeping Giant Mine

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 Location:
63 km N from Amos, Quebec, Canada

  Project Contacts:
475, avenue de l’église
Rouyn-Noranda (Evain)
Quebec, Canada
J0Z 1Y1
Phone  ...  Subscription required
Fax(819)-768-5475
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageRestarting
Mine TypeUnderground
Commodities
  • Gold
Mining Method
  • Shrinkage stoping
  • Longhole stoping
  • Room-and-pillar
Mine Life4 years (as of Jan 1, 2019)
Over the 2023 year, the company will work on developing a budget plan for the resumption of production at the Sleeping Giant mine. The Sleeping Giant mine team has started rehabilitating the galleries of the upper levels and has already identified unexplored mineralized areas. The objective for the next year is to update mineral resources using new technological tools available to technical teams and to advance rehabilitation on multiple levels and in the shaft towards a resumption of mining activities.
Latest NewsAbcourt prepares the processing of the 5,000 tonnes bulk sample from the Pershing-Manitou deposit at the Sleeping Giant Mill     September 14, 2023


Owners

Source: p. 17
CompanyInterestOwnership
Abcourt Mines Inc. 100 % Direct
On June 17, 2016, Abcourt completed the acquisition of the Sleeping Giant mine and mill.

Contractors

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Deposit Type

  • VMS


Summary:

Deposit Type
Sleeping Giant is a sulphide-rich lode gold deposit of volcanogenic affinity. In a geochemistry study of the volcanogenic massive sulphide (“VMS”) deposits in the Abitibi belt, Gaboury and Pearson (2008) classified the Sleeping Giant Rhyolite as “F1 type”, which includes VMS deposits rich in gold and silver. Such deposits, which have the particularity of being spatially isolated, are probably the result of local hydrothermal processes (Gaboury, 2004). The Sleeping Giant deposit displays atypical characteristics of orogenic Archean deposits associated with major faults. According to Gaboury (1999), gold-bearing veins formed in subhorizontal strata shortly after QFP injections but before the end of mafic magmatism. All rock types, including gold-bearing veins, have been affected by regional ductile deformation (folding of strata and development of schistosity) and metamorphism to the greenschist facies.

Mineralization styles
The sections below describe the following styles of gold mineralization found in the Sleeping Giant mine: (1) gold-bearing veins (economically the most important), (2) stratabound gold-bearing, (3) SE-NW veinlet arrays, and (4) veining within the QFP dykes. The last two styles are uneconomic, but they are significant in establishing the controls and timing of gold mineralization.

Gold-bearing veins
Gold-bearing sulphide-quartz veins (the most economically important) are generally massive, ranging from a few ........


Mining Methods

  • Shrinkage stoping
  • Longhole stoping
  • Room-and-pillar


Summary:

A mining plan has been prepared to extract 325,000 tonnes of reserves over a 4-year period including one year of pre-production (25,000 tonnes) followed by the three years with an annual production of 100,000 tonnes per year. The remaining 14,221 tonnes of reserves, not extracted by this mining plan, will be extracted later in subsequent operations following additional exploration and development work. There are good possibilities of extending the production period by doing additional exploration work on the indicated resources excluded from the mining plan and on the inferred resources and converting the latter into measured or indicated resources and eventually into reserves.

The mineralization is typically in narrow veins. The dip varies between 30o and 80o. The mining methods will be shrinkage and room and pillars. The long-hole method is not favored but will be used where the other methods are not adequate.


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsLOM
Gold oz 78,996

Operational Metrics:

Metrics
Ore tonnes mined, LOM 325,000 t *
Total tonnes mined, LOM 332,886 t *
Tonnes processed, LOM 325,000 t *
* According to 2019 study.

Reserves at December 12, 2022:
Mineral Resource is reported at a rounded cut-off grade of 4.25 g/t Au using the long-hole (“LH”) method and 5.0 g/t Au using the room and pillar (“R&P”) method.

CategoryTonnage CommodityGradeContained Metal
Indicated 755,000 t Gold 7.14 g/t 173,300 oz
Inferred 884,000 t Gold 8.74 g/t 248,300 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required
Assumed price Gold USD  ......  Subscription required
* According to 2019 study / presentation.

Operating Costs:

Units2019
UG mining costs ($/t milled) CAD 128.18 *  
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2019 study.
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2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 11.4
G&A costs $M CAD 4.3
Total OpEx $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
EBITDA (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Water Supply
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 25, 2023
....................... Subscription required ....................... Subscription required Subscription required Jun 30, 2019
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Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Management Discussion & Analysis 2022
Press Release 2022
Technical Report 2022
................................... Subscription required 2021
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Management Discussion & Analysis 2017
Management Discussion & Analysis 2016
Annual Report 2015
Annual Report 2014
Annual Report 2013
Technical Report 2013
Annual Report 2012
Annual Report 2012
Technical Report 2009
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News:

NewsDate
Abcourt prepares the processing of the 5,000 tonnes bulk sample from the Pershing-Manitou deposit at the Sleeping Giant Mill September 14, 2023
Abcourt Amends the Terms of the Non-Brokered Private Placement Announced In June 2023 August 31, 2023

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