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Liberia
New Liberty Expansion Project (New Liberty)

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 Location:
87 km NW from Monrovia, Liberia

  Project Contacts:
1st Floor Suites 101 & 105 Rose Garden Plaza Crown Hill, Broad Street
Monrovia
Liberia
Phone  ...  Subscription required
WebsiteWeb
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Overview

StagePre-Feasibility
Mine TypeOpen Pit & Underground
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Longhole open stoping
Processing
  • Gravity separation
  • Smelting
  • Agitated tank (VAT) leaching
  • Carbon in leach (CIL)
  • Carbon adsorption-desorption-recovery (ADR)
  • Elution
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)
Mine Life11 years (as of Jan 1, 2019)


Owners

Source: p. 96
CompanyInterestOwnership
Avesoro Resources Inc. 100 % Indirect
Bea Mountain Mining Corp. 100 % Direct
Bea Mountain Mining Corporation (BMMC) has a 100% interest in the current Bea Mineral Development Agreement, which was signed with the Liberian Government in November 2001. Bea Mountain Mining Corporation is a 100% owned subsidiary of Avesoro Resources Inc., dual listed on the Alternative Investment Market (AIM) in London (LSE) and Toronto Stock Exchange (TSX).

Deposit Type

  • Orogenic


Summary:

The property hosts a typical Upper Archean to lower Proterozoic style of metallogeny, characteristic of greenstone-hosted lode gold mineralisation, where deposits are often referred to as orogenic, and characterised by the presence of gold-quartz veins and disseminated mineralisation. Gold mineralisation is hosted in moderate to steeply dipping quartz-dominated shear zones with associated extensional vein systems. This model is consistent with Archean orogenic gold deposits described by Hagemann and Cassidy (2000), Richards and Tosdal (2001), Goldfarb et al. (2001) and Roberts et al. (1989).

New Liberty
Within the ultramafic unit, silicification is found proximal to the mineralisation, within the immediate hangingwall and rarely in the footwall gneisses. Other alteration styles associated with the mineralisation include the presence of phlogopite as well as chlorite within the mineralised zone, and an associated sulphidic bleaching of the rocks linked with the destruction of magnetite.

These features point to a pathway for the mineralising fluids which was active over a long period of time. The deposit shows the classic signs of sulphidation, with iron sulphides (mainly pyrrhotite) replacing the magnetite and it has a low sulphide content with sulphides forming between 0.1% and 1% of the mineralised zones.

Multi element analyses of cores have highlighted a clear association between gold and arsenic, sulphur, nickel and tungsten in the mineralised zones. Enhanced values of magnesium, sodium, potassium, rubidium and barium occur along the margins of the mineralisation. It is hypothesised that the gold-bearing metamorphic fluid may include a granitic component in its evolution.

Vast majority of the mineralisation at the Project is hosted within the altered parts of the sheared ultramafic rocks. Pyrrhotite, gersdorffite and arsenopyrite are the main sulphides with occasional pyrite and rare chalcopyrite or pentlandite. Metallurgical tests of the mineralised sections carried out by Lakefield Research Limited (Lakefield, 1999b) indicated that the gold is free in form. Gold mineralisation occurs in zones of variable thickness, with average widths of 10 m, and is nearly continuous along 2 km of strike.

Ndablama
Gold mineralisation is associated with hydrothermal alteration and disseminated sulphides and is related to shear deformation which follows the granite-metavolcanic contact zone.

Alteration is consistently defined by silicification, magnetite destruction, phlogopite and chlorite, with phlogopite dominating the relationship. Magnetite destruction within the ultramafics has been identified as having a direct relationship with gold mineralisation.

The mineralisation is located within a sheared package of ultramafic and mafic rocks intercalated within a gneiss sequence overlying/adjacent to a granite batholith. The mineralization consists of three bodies; the central zone 430 m long has been drilled to vertical depth of 290 m, southern- eastern zone which has 300 m strike length has been tested to 120 m depth, and the last zone, along north to south direction, which has about 1300 m strike length has been drilled to 360 m vertical depth. All have shallow westerly-dip (25° on average) and strike north-south. The dip of the orebody decreases with depth. Mineralisation continues to the north but at a lower grade.

Sheared amphibolite schists with biotite/phlogopite and ultramafic tremolite chlorite schists host the gold mineralisation at Ndablama, with occasional magnetite-poor ultramafics and intrusive granites also containing mineralisation. Petrography carried out during 2014 shows that the gold is associated with disseminated pyrite and pyrrhotite and trace chalcopyrite (Thatcher, 2014).

Gold often occurs at sheared contact zones between ultramafic and mafic rocks that have been intruded by granite dykes and breccias. The breccia often marks the end of the gold mineralisaOon. Spatially, gold mineralisation remains open in all directions.


Mining Methods

  • Truck & Shovel / Loader
  • Longhole open stoping


Summary:

Mining activity for the combined project will include:

- open pit mining of the New Liberty deposit until the breakeven cut-off for underground mining is reached, which corresponds to pitshell 33;

- a transition to underground mining by long- hole open stoping methods (LHOS) and mining of reserves by underground methods;

- open pit mining of the reserves at the Ndablama deposit and direct shipping of Ndblama ore to the New Liberty mill later in the life of the project.


Crushing and Grinding
Flow Sheet: Source


Processing

  • Gravity separation
  • Smelting
  • Agitated tank (VAT) leaching
  • Carbon in leach (CIL)
  • Carbon adsorption-desorption-recovery (ADR)
  • Elution
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)

Flow Sheet: Subscription required

Summary:

Metallurgical testwork results and industry norms were used to define the process design criteria for the New Liberty Plant. The original process plant was designed, built and commissioned in July 2015 by DRA, an international engineering company, to treat 1.1 Mt/a of ore, corresponding to a mill feed of 146 t/hr.

Since start-up there have been a number of operational issues that have affected plant performance. In late 2016 following the change of project ownership, the operational issues were evaluated and measures identified to improve performance. The planned modifications to the plant, some already implemented, and some planned for late 2017, have been designed to increase the throughput in stages up to 200 t/hr (1.8 Mt/a), while achieving the original design gold recovery of 91–93%.

The process flowsheet is an industry-standard arrangement consisting of crushing, ore stockpiling, grinding and classification, gravity gold recovery, thickening and gold extrac ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, % 92
Gold Head Grade, g/t 2.49

Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 114,5001,259,400
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Tonnes milled, LOM 17,069 kt *
Annual milling rate 1.8 Mt *
* According to 2019 study.

Reserves at December 31, 2018:

CategoryTonnage CommodityGradeContained Metal
Proven 0.3 Mt Gold 2.13 g/t 21 koz
Probable 16.769 Mt Gold 2.49 g/t 1,344 koz
Proven & Probable 17.069 Mt Gold 2.49 g/t 1,365 koz
Measured 0.37 Mt Gold 2.32 g/t 27.3 koz
Indicated 20.1 Mt Gold 2.66 g/t 1,721 koz
Measured & Indicated 20.47 Mt Gold 2.66 g/t 1,748 koz
Inferred 3 Mt Gold 2.8 g/t 271 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required *
Total cash costs Gold USD  ......  Subscription required *
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *
All-in costs Gold USD  ......  Subscription required *
Assumed price Gold USD  ......  Subscription required *
* According to 2019 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2019
Total operating costs ($/t milled) USD 56.6 *
* According to 2019 study.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP/UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 391.2
G&A costs $M USD 12.8
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin, % $M USD  ......  Subscription required
EBITDA (LOM) $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 @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of January 31, 2019:
HME TypeModelQuantity
Dozer ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 31, 2019
....................... Subscription required ....................... Subscription required Subscription required Oct 25, 2021
....................... Subscription required ....................... Subscription required Subscription required Oct 25, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
Subscription required - Subscription is required.

Aerial view:

Subscription required - Subscription is required.

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