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Canada
Spanish Mountain Project

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 Location:
66 km NE from Williams Lake, British Columbia, Canada
  Project Contacts:
1120-1095 West Pender Street
Vancouver
British Columbia, Canada
V6E 2M6
Phone  ...  Subscription required
Fax604-681-6866
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life14 years (as of Jan 1, 2021)
The Company is focused on advancing the Spanish Mountain Project towards a bankable feasibility and a construction decision.

During Q2 2023, ongoing baseline surface water quality sampling and stream hydrology monitoring were conducted. The EA process was placed on hold while the company performed a review of the geology and PFS for the Spanish Mountain project.

In Q1 2023, the Company initiated a study to assess larger pit-constrained resource options to advance towards a bankable feasibility. In Q2, the preliminary findings indicate the potential for a larger production throughput and optimized pit size than considered in the PFS. The Company continues to examine these options and approaches for the next steps to advance the Spanish Mountain project.

Owners

Source: p. 25
CompanyInterestOwnership
Spanish Mountain Gold Ltd. 100 % Direct
The Property is 100% owned by SMG (Spanish Mountain Gold Ltd.).

Contractors

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Deposit Type

  • Sediment-hosted
  • Vein / narrow vein

Summary:

The Spanish Mountain gold deposit is classified as a sediment-hosted vein (SHV) deposit, as defined by Klipfel (2005).

Gold mineralization occurs as two main types:
• Disseminated within the black, graphitic argillite. This is the most economically significant form. Gold grain size is typically less than 30 µm, and is often, but not always, associated with pyrite. Disseminated gold has also been associated with quartz veins within faults zones in the argillite.
• Within quartz veins in the siltstone/tuff/greywacke sequences. It occurs as free, fine to coarse (visible) gold and can also be associated with sulphides including galena, chalcopyrite and sphalerite. Highest grades have come from coarse gold within quartz veins.

Disseminated gold within the argillite units is by far the most economically important type of mineralization, and occurs in multiple stratigraphic horizons. From drill core, elevated gold content has been noted within fault zones as well as quartz veins within fault zones. However, the influence of fault zones in relation to the gold content of the deposit is not certain.

Examination of 15 representative core samples of disseminated gold in thin section work by Ross (2006) has concluded the following:

• Native gold (electrum) was identified in four samples, and it occurred as inclusions and fracture fill in pyrite, on crystal boundaries between pyrite crystals and in the gangue adjacent to pyrite. It i ........

Mining Methods

  • Truck & Shovel / Loader

Summary:

The Spanish Mountain deposit will be mined using a conventional open pit mining method. A PFS level mine operation design, 14-year open pit production schedule.

The mining fleet will include diesel-powered rotary drills with 200 mm bit size for production drilling and down the hole (DTH) drills with 127 mm bit size for wall control drilling; diesel- powered RC drills for bench-scale grade control drilling; 15.5 m3 bucket sized hydraulic excavators and 13 m3 bucket sized wheel loaders for production loading; 140 tonne payload rigid-frame haul trucks and 40 tonne articulated trucks for production hauling; plus ancillary and service equipment to support the mining operations. In-pit dewatering systems will be established for the pit. All surface water and precipitation in the pits will be handled by diesel powered pumps.

Ore will be hauled to a crusher 0.5 km west of the pit and crushed to feed the process plant. Waste rock will be deposited into waste rock storage facilities (WRSF) 0.5 to 2.0 km west of the pit or used as rockfill to construct a tailings dam 4.0 km southwest of the pit.

Ultimate pit limits are split into phases or pushbacks to target higher economic margin material earlier in the mine life. The pits are split into nine distinct phases, with the initial phases containing mineralisation with a higher gold grade and lower strip ratio than later phases.

During the pre-stripping phase, all ore mined in the pit will be st ........

Crushing and Grinding
Source: Subscription required

- subscription is required.

Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.

Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 1502,100
Silver koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily ore mining rate  ......  Subscription required
Daily processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at March 31, 2021:
Mineral Reserves are reported at a cut-off grade of 0.30 g/t Au.
Mineral Resources at a 0.15 g/t Au Cut-Off Grade.

CategoryTonnage CommodityGradeContained Metal
Proven 40.8 Mt Gold 0.79 g/t 1.03 M oz
Proven 40.8 Mt Silver 0.67 g/t 0.88 M oz
Probable 55.1 Mt Gold 0.74 g/t 1.31 M oz
Probable 55.1 Mt Silver 0.74 g/t 1.31 M oz
Proven & Probable 95.9 Mt Gold 0.76 g/t 2.34 M oz
Proven & Probable 95.9 Mt Silver 0.71 g/t 2.19 M oz
Measured 68.429 Mt Gold 0.59 g/t 1.289 M oz
Measured 68.429 Mt Silver 0.67 g/t 1.474 M oz
Indicated 225.724 Mt Gold 0.47 g/t 3.418 M oz
Indicated 225.724 Mt Silver 0.73 g/t 5.298 M oz
Measured & Indicated 294.153 Mt Gold 0.5 g/t 4.707 M oz
Measured & Indicated 294.153 Mt Silver 0.72 g/t 6.772 M oz
Inferred 18.343 Mt Gold 0.63 g/t 0.372 M oz
Inferred 18.343 Mt Silver 0.76 g/t 0.448 M oz

Commodity Production Costs:

CommodityAverage
Total cash costs (sold) Gold  ......  Subscription required
All-in sustaining costs (sold) Gold  ......  Subscription required
All-in costs Gold  ......  Subscription required
Assumed price Silver  ......  Subscription required
Assumed price Gold  ......  Subscription required
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) CAD 2.22 *  
OP mining costs ($/t milled) CAD  ......  Subscription required
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Net revenue (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 @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 5% $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
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of May 31, 2021:
HME TypeSizeQuantityLeased or
Contractor
Crane 35 t ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 31, 2021
....................... Subscription required ....................... Subscription required Subscription required May 31, 2021
....................... Subscription required ....................... Subscription required Subscription required May 4, 2023
....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2023
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Quarterly Report 2023
................................... Subscription required 2021
................................... Subscription required 2021
Corporate Presentation 2017
Preliminary Economic Assessment 2017
Press Release 2017
Technical Report 2014
Preliminary Economic Assessment 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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