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Australia
Gum Creek Project

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 Location:
110 km SW from Wiluna, Western Australia, Australia

  Project Contacts:
Unit 8 47 Havelock Street
PO Box 39 WA 6872
Perth
Western Australia, Australia
6005
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life5.8 years (as of Jan 1, 2016)
The Project not only represents a significant brownfields exploration opportunity, but also offers substantial greenfields exploration upside along 80km of prospective and continuous strike. All of the existing resources and most of the potential resource areas are located on granted Mining Leases. The project also has significant infrastructure in place, including a 110-man camp, an operating airstrip, a 600,000tpa CIL processing facility (requiring refurbishment), extensive haul road network and a large tailings storage facility.


Owners

Source: p. 4,61
CompanyInterestOwnership
Horizon Gold Ltd 100 % Indirect

Contractors

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Deposit Type

  • Vein / narrow vein
  • Banded iron formation hosted


Summary:

The Gum Creek consists Swan OC/UG, Swift OC/UG, Heron South OP, Howards OP, Specimen Well OP, Shiraz OP, Wilsons UG, Omega and PSI, Kingston Town, Eagle deposits.

Swan Trend
Gold mineralisation in the Swan area is associated with conjugate quartz-carbonate-pyrite vein sets preferentially hosted within carbonate-sericite altered dolerite. Conjugate vein sets are shallow southeast dipping with lodes generally plunging to the south (i.e. Australia, East and Albania Lodes) and moderate to steeply northeast dipping with lodes plunging to the north (i.e. Monte Carlo, Sicily, Tunisia, Cascade and Premium). High-grade ore shoots are parallel to vertical fold hinges within the dolerite and formed at conjugate vein set intersections and at the intersection of vein sets with the Butcherbird Shear Zone to the east. The vein sets, associated tension gashes and high-grade ore shoots have been subjected to later fault/shearing events resulting in localised orebody complexities.

The Swan Mineral Resource area is a large mineralised system with a strike length of 1.4km. The area retains excellent scope for potentially defining further shallow open cut and underground Mineral Resources beyond the previously mined and current resource area, particularly along strike to the north and down plunge on many of the Swan underground lodes including Monte Carlo, Monaco, East, Sicily, Tunisia, Cascade and Premium Lodes.

Swift Trend
Gold mineralisation in the S ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Study assumed a standard drill, blast, load and haul mining methodology which is well known and widely used in Western Australia.

Mining at Gum Creek will be undertaken by mining contractors, with personnel operating on a fly-in, fly-out out basis from Perth, with local residents employed where possible.

Production from Swan and Swift includes cutbacks to the existing open pits, while mining at Howards will be from a new open pit.

Swan:
- Minimum Mining Width – 4m downhole;
- Internal Dilution – 2m downhole;
- Edge Dilution - 1m either side downhole.
- High Grade Cuts:
- Oxide – 10g/t;
- Transitional – 20g/t;
- Fresh 200g/t.
- Pit Slope angles range from 35-45 degrees;
- Ramp widths range from 12-18m wide with a gradient of 1 in 9;
- Batter angles range from 70 degrees near the base to 55 degrees near the surface and berm heights of 20m with minimum berm widths of 7m.

Swif:
- Minimum Mining Width – 4m downhole;
- Internal Dilution – 2m downhole;
- Edge Dilution - 1m either side downhole;
- High Grade Cuts:
– Oxide – 20g/t;
- Transitional – 30g/t;
- Fresh 30g/t.
- Pit Slope angles range from 40-44 degrees;
- Ramp widths range from 12-18m wide with a gradient of 1 in 9;
- Batter angles range from 70 degrees near the base to 55 degrees near the surface and berm heights of 20m with minimum berm widths of 5m.

H ........


Crushing and Grinding
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Processing

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Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 60,000290,000
All production numbers are expressed as payable metal.

Operational Metrics:

Metrics
Stripping / waste ratio 9.4 *
Ore tonnes mined, LOM 4.9 Mt *
Annual processing capacity 800,000 t *
* According to 2016 study.

Reserves at February 12, 2021:
Cut-off grades are 2.5g/t Au for Swan UG Indicated, and 3.0g/t Au for Swan and Swift UG Inferred.
For Open Cut a cut-off grade of 0.7g/t Au has been used.

CategoryOreTypeTonnage CommodityGradeContained Metal
Indicated Total 13,932,000 t Gold 2.2 g/t
Inferred Total 4,654,000 t Gold 2.5 g/t
Total Resource Total 18,586,000 t Gold 2.3 g/t 1,360,500 oz

Commodity Production Costs:

CommodityAverage
All-in sustaining costs (AISC) Gold 1,209 / oz *  
Assumed price Gold 1,275 / oz *  USD
* According to 2016 study / presentation.

Operating Costs:

Units2016
OP mining costs ($/t milled) AUD 35 *
Processing costs ($/t milled) AUD  ......  Subscription required
G&A ($/t milled) AUD  ......  Subscription required
* According to 2016 study.
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2016 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscription required
Sustaining CapEx $M AUD  ......  Subscription required
Total CapEx $M AUD  ......  Subscription required
Net revenue (LOM) $M AUD  ......  Subscription required
EBITDA (LOM) $M AUD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscription required
Pre-tax NPV @ 11% $M AUD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Subscription required - Subscription is required.


Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 3, 2021
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Corporate Presentation 2017
Press Release 2016
Press Release 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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