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Canada
Courageous Lake Project

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 Location:
240 km NE from Yellowknife, Northwest Territories, Canada

  Project Contacts:
106 Front Street East Suite 400
Toronto
Ontario, Canada
M5A 1E1
Phone  ...  Subscription required
Fax416.367.2711
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Processing
  • Flotation
  • Agitated tank (VAT) leaching
  • Counter current decantation (CCD)
  • Pressure oxidation
  • Carbon in leach (CIL)
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)
Mine Life15 years (as of Jan 1, 2012)
Seabridge is currently redesigning the large-scale project assumed in the 2012 Pre-Feasibility Study to determine if a smaller, less capital-intensive design with a smaller footprint could improve economics and enhance the permitting process. Various mine development and mine operating plans are being tested to maximize the value of the project. These analyses are ongoing and will inform additional field programs upon completion.


Owners

Source: p. 44
CompanyInterestOwnership
Seabridge Gold Inc. 100 % Direct
In 2002, Seabridge Gold Inc. purchased a 100% interest in the Courageous Lake gold project from Newmont Canada Limited and Total Resources (Canada) Limited for US$2.5 million.

Deposit Type

  • Hydrothermal


Summary:

The FAT deposit is a strataform series of near vertical, elongate lenticular ore domains hosted in Archean tuffaceous clas ic rocks and ash-flow tuff. Gold mineralization is interpreted to be a product of an episodic, epithermal-like, submarine and subaerial, hydrothermal system. Regional deformation has imparted minor metamorphic mineralogical and geometric modifications to the deposit. The hydrothermal system is interpreted to have formed within an emerging, peraluminous, calc alkaline rhyolite to rhyodacite volcanic edifice. Although there is no strict lithological control to the gold distribution in the FAT deposit, each of the identified ore domains has a consistent stratigraphic architecture that distinguishes them.

Sulfide mineralogy in the FAT deposit is relatively simple and consists of pyrite, pyrrhotite, arsenopyrite, sphalerite, and chalcopyrite in decreasing order of abundance. While all of these minerals can be found in the mineralized zones, only arsenopyrite has a consistent correlative relationship to gold concentrations. Arsenopyrite occurs in three distinct habits: acicular disseminated crystals, anhedral disseminated clots, and euhedral crystals in fractures. The acicular variety tends to have the clearest association with higher-grade gold mineralization.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The deposit will be mined using open pit miningmethods to a depth of approximately 610 m, and standard truck and shovel will be used to mine the pit. The current study is based on 15 m high operational benches with final benches 30 m high. The minimum catch bench width is 8 m in accordance with the Northwest Territories Mine Health and Safety Act and Regulations.

The mine rock will be stored in the RSF located to the east of the pit. The mineralized material will be trucked for milling at the proposed plant located southeast of the pit.


Crushing and Grinding


Processing

  • Flotation
  • Agitated tank (VAT) leaching
  • Counter current decantation (CCD)
  • Pressure oxidation
  • Carbon in leach (CIL)
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)

Source: Subscription required

Summary:

The proposed process plant will process 17,500 t/d of mineralization. The plant will be operated 365 d/a at an availability of 92%.

The flowsheet proposed for the Project includes HPGR/grinding comminution, conventional flotation, flotation concentrate pressure oxidation, cyanidation, and gold recovery/refining circuits. The comminution will consist of primary crushing by gyratory crusher, secondary crushing by cone crusher, and tertiary crushing by HPGR followed by ball mill grinding. The conventional flotation will include rougher flotation, scavenger flotation, and cleaner flotation on scavenger flotation concentrate. The rougher flotation concentrate together with the scavenger cleaner concentrate will be oxidized under pressure after being reground and acid preleached. A portion of the slurry and acid-bearing solution from the POX circuit will be recycled back to the POX pre leaching. The slurry and the acid-bearing solution of the POX discharge will be separately neutr ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, % 89.4
Gold Head Grade, g/t 2.2

Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 3855,777

* According to 2012 study.

Reserves at December 31, 2015:

CategoryTonnage CommodityGradeContained Metal
Proven 12 Mt Gold 2.41 g/t 1 M oz
Probable 79 Mt Gold 2.17 g/t 5.5 M oz
Proven & Probable 91 Mt Gold 2.2 g/t 6.5 M oz
Measured 13.401 Mt Gold 2.53 g/t 1.09 M oz
Indicated 93.914 Mt Gold 2.28 g/t 6.884 M oz
Measured & Indicated 107.315 Mt Gold 2.31 g/t 7.974 M oz

Commodity Production Costs:

CommodityUnits2021
Cash costs Gold USD 780 / oz *
Total cash costs Gold USD 1,123 / oz *
Assumed price Gold USD 1,384 / oz *
* According to 2012 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) USD 26.2 *
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2012 study.
Subscription required - Subscription is required.

2012 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 100.4
G&A costs $M USD 22.3
Total OpEx $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 0% $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  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
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of September 5, 2012:
HME TypeSizeQuantity
Crane 250 t ....................... Subscription required
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2021
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2021
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
Corporate Presentation 2016
Annual Report 2015
Pre-Feasibility Study Report 2012
Technical Report 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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