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Canada
Goliath Project

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 Location:
14 km E from Dryden, Ontario, Canada

  Project Contacts:
P.O. Box 783
Dryden
Ontario, Canada
P8N 2Z4
Phone  ...  Subscription required
Fax(807) 938-6499
EmailEmail
WebsiteWeb
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  • Overview
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  • Mining
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  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit & Underground
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
  • Longhole open stoping
  • Cemented backfill
Mine Life13.5 years (as of Jan 1, 2021)
Goliath Gold Complex ("GGC" or the "Project") includes the Goliath, Goldlund and Miller deposits.


Owners

Source: p. 4
CompanyInterestOwnership
Treasury Metals Inc. 100 % Direct
The Goliath Gold Project is held 100% by the Company, subject to certain underlying royalties and payment obligations on certain patented land parcels, totalling about $105,000 per year.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Hybrid
  • Vein / narrow vein


Summary:

Deposit Types
The Goliath Project hosts a hybrid deposit-type model, also known as a “Pre-orogenic Atypical Greenstone Belt Gold Model” as a promising genetic model to explain the geology, structures and mineralisation observed within the Goliath deposit. In this model, early gold-rich volcanogenic sulphide mineralisation is overprinted by subsequent deformation and alteration events which can contribute to further concentration and/or remobilising of both precious and base metals. This model also integrates potential VMS and Magmatic Hydrothermal Archean Lode Gold Deposit (“Magmatic Hydrothermal”) models in the formation of the deposit. It is likely that the Goliath deposit does not fit into any one idealised model and neither should be discounted.

The Goldlund Project hosts Archean, shear zone-hosted quartz vein mineralisation (Archean lode- gold), occurring as extensional quartz vein systems, particularly between rocks with high competency contrast. Archean lode-gold deposits occur in a broad range of structural settings, and at different crustal levels, but they share a similarity in ore fluid characteristics. Mineralisation is typically late tectonic, occurring after the main phases of regional thrusting and folding, and generally late-syn to post-peak metamorphism with most of the significant deposits in areas of greenschist facies. Many deposits are related to the reactivation of earlier structures.

Archean lode-gold occurrences are common i ........


Mining Methods

  • Truck & Shovel / Loader
  • Longhole open stoping
  • Cemented backfill


Summary:

The mine designs and schedule for both the open pit and underground utilise inferred resources as part of the analysis. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary economic assessment is preliminary in nature in that it includes inferred mineral resources that are considered too speculative to have economic considerations applied to them and should not be relied upon for that purpose.

The Goliath Gold Complex PEA is based on the mining of three deposits: Goliath, Goldlund and Miller. All three areas would be mined by open pit methods, with Goliath also being mined by underground methods beneath the open pit.

The mine schedule provides 24.0 Mt of mill feed grading 1.47 g/t gold and 1.82 g/t silver over a 13.5-year mine life after one year of pre-stripping. The open pit mining sequence begins with Goliath in pre-production and then Goldlund starts in Year 1. Miller is started in Year 6 and finishes in Year 9. At that time, open pit mining is complete. The underground mine at Goliath starts in Year 3 with first delivery of mill feed in Year 4. Underground mining continues until Year 11. The processing facility will continue to be fed from stockpiles at Goliath until the middle of Year 14.

Mill feed from Goldlund and Miller are proposed to be transported to the Goliath process plant site with highway tractors and belly dump trucks. This transport will require the use of a portion of ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 791,064
Silver koz  ......  Subscription required
All production numbers are expressed as payable metal.

Operational Metrics:

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

Reserves at December 16, 2020:
This mineral resource estimate covers the Goliath deposit, the Goldlund deposit, and the Miller deposit.
The mineral resources, which contained Silver, are given only for Goliath deposit.

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured In-Situ (OP) 1,471 kt Gold 1.9 g/t 90 koz
Measured In-Situ (UG) 98 kt Gold 4.94 g/t 16 koz
Measured Total 1,569 kt Gold 2.09 g/t 105 koz
Measured In-Situ (OP) 1,471 kt Silver 6.7 g/t 316,700 oz
Measured In-Situ (UG) 98 kt Silver 20.8 g/t 65,300 oz
Measured Total 1,569 kt Silver 7.58 g/t 382,000 oz
Indicated In-Situ (OP) 51,256 kt Gold 0.97 g/t 1,597 koz
Indicated In-Situ (UG) 2,592 kt Gold 3.16 g/t 263 koz
Indicated Total 53,848 kt Gold 1.07 g/t 1,860 koz
Indicated In-Situ (OP) 26,956 kt Silver 3 g/t 2,591,400 oz
Indicated In-Situ (UG) 2,592 kt Silver 7.6 g/t 632,700 oz
Indicated Total 29,548 kt Silver 3.39 g/t 3,224,100 oz
Measured & Indicated In-Situ (OP) 52,727 kt Gold 1 g/t 1,687 koz
Measured & Indicated In-Situ (UG) 2,690 kt Gold 3.22 g/t 279 koz
Measured & Indicated Total 55,417 kt Gold 1.1 g/t 1,965 koz
Measured & Indicated In-Situ (OP) 28,426 kt Silver 3.2 g/t 2,908,100 oz
Measured & Indicated In-Situ (UG) 2,690 kt Silver 8.1 g/t 698,000 oz
Measured & Indicated Total 31,116 kt Silver 3.6 g/t 3,606,100 oz
Inferred In-Situ (OP) 20,025 kt Gold 0.65 g/t 415 koz
Inferred In-Situ (UG) 937 kt Gold 3.75 g/t 113 koz
Inferred Total 20,962 kt Gold 0.78 g/t 528 koz
Inferred In-Situ (OP) 3,644 kt Silver 2.1 g/t 247,000 oz
Inferred In-Situ (UG) 704 kt Silver 5.6 g/t 125,900 oz
Inferred Total 4,348 kt Silver 2.67 g/t 372,900 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) CAD 3.27 *
OP mining costs ($/t milled) CAD  ......  Subscription required
UG 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
OP OpEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 272.5
Refining costs $M CAD  ......  Subscription required
Transportation (haulage) costs $M CAD 83.6
G&A costs $M CAD 54.7
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross 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 January 28, 2021:
HME TypeSizeQuantity
ANFO Loader ....................... Subscription required
....................... 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 28, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 28, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 10, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
Preliminary Economic Assessment 2017
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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