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Canada
Clavos Project

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 Location:
40 km NE from Timmins, Ontario, Canada

  Project Contacts:
365 Bay St
Toronto
Ontario, Canada
M5H 2V1
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  • Overview
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  • Geology
  • Mining
  • Processing
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  • Reserves
  • Costs & Financials
  • Fleet
  • Filings & News

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Overview

StatusCare and Maintenance
Mine TypeUnderground
Commodities
  • Gold
Mining Method
  • Cut & Fill
  • Longhole stoping
Mine Life7 years (as of Jan 1, 2013)
On May 11, 2018, Sage Gold Inc. (“Sage”, or the “Company”) announced that it had received a Notice of Default from CRH pursuant to the GPA for failure to deliver Refined Gold from gold produced from bulk sample mill runs of Clavos mineralized material in 2018. In addition, on June 26, 2018, the Company was served with a Notice of Intention to Enforce Security under Section 244 of the Bankruptcy and Insolvency Act on behalf of CRH.

On January 11, 2019, one of the prospective purchasers provided the Receiver with a non-refundable payment of $10,000 USD to be applied to its deposit to allow the Receiver, in conjunction with the Director, to provide access to the purchaser’s agent to inspect the pumps underground and to inspect the Clavos Property.

These efforts lead to the Receiver securing definitive agreements for the purchase of the Onaman and the Clavos properties.


Owners

Source: p. 24
CompanyInterestOwnership
Sage Gold Inc. 100 % Direct
Since the inception of the Interim Receivership and Receivership Administration, the Receiver engaged Sage’s previous mine manager and staffing company, R. Ritchie Services Ltd. (“Ritchie Services”) for the Clavos Property to complete care and maintenance activities, including dewatering activities, environmental water testing, equipment clean-up, winterization measures and property maintenance (“Care and Maintenance Program”).

Contractors

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Deposit Type

  • Vein / narrow vein


Summary:

Gold mineralization occurs in a series of quartz and quartz-carbonate veins which are interpreted from the drilling as being steeply dipping and east-west striking, roughly parallel to the Porcupine-Destor Fault Zone (PDFZ). The veins, while appearing to be consistent in orientation from section to section are observed in the drill core to occur in a wide variety of orientations. It is highly likely that many of these veins are not tabular, but irregular in shape, similar to others observed in the gold deposits of the Timmins area.

The quartz veins occur most often in the mafic volcanic rocks, usually in proximity to porphyry intrusions. There is a persistent zone of quartz veining associated with the sedimentary-volcanic contact, and there are some wide vein intercepts to the south of the contact, but these tend to be weakly mineralized.

The mineralization at Clavos is located within an envelope of highly altered ultramafic flow and volcanic clastic fragmental rock referred to as the DL zone. The DL zone, which lies approximately 10m north of the sedimentary-volcanic contact, varies in thickness from 30m to 60m, is cored by several semi-concordant, east-west trending, steeply dipping and shallow eastplunging feldspar porphyry bodies of up to 20m in thickness. The shallow easterly plunge is regional in character and is overprinted by local structures.

There are six gold-bearing mineralized zones inwhich mineral resources have been estimated at ........


Mining Methods

  • Cut & Fill
  • Longhole stoping


Summary:

The stope mining methods proposed in this PEA for the Clavos JV project are cut & fill stoping and bulk long hole stoping with pillars for the most part located in waste material. These stoping methods are common in mining, and are considered to be inherently safe methods of mineralized material extraction.

Cut & Fill Stoping:

- Selected as being safe while allowing a high percentage of mineralized material extraction with selective extraction methods possible

- Highly flexible permitting selective mining to be performed through alternate production faces within a single mining area

- Most efficient should the mineralized material grade or configuration of the mineralized structure be variable

- With two or more cut & fill stoping complexes in close proximity with each other, the same stope mining gear can be employed by traversing a connecting sub drift

- Could utilize steel mill holes and galvanized man ways in conjunction with cemented fill floors

- Could make use of hand held pneumatic drilling machines

- Mucking could utilize 1.25 mechanically driven diesel scoop trams and/or Cavo type muckers.

Bulk Long Hole Stoping:

- Allows utilization of similar equipment throughout the mine workings

- Incorporates longitudinal retreat stoping methods

- Utilizes 2 ½” to 3” diameter holes drilled from a pneumatic drill wagon

- Utilizes 3.5 yd. ........


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsLOM
Gold oz 145,448
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily mining rate 600 t *
Annual mining capacity 210,000 t *
* According to 2013 study.

Reserves at December 31, 2012:

CategoryTonnage CommodityGradeContained Metal
Measured & Indicated 1,258,400 t Gold 4.81 g/t 194,600 oz
Inferred 796,000 t Gold 4.7 g/t 120,000 oz

2013 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
G&A costs $M CAD 12.1
Total OpEx $M CAD  ......  Subscription required
Gross revenue (LOM) $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 @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of April 12, 2013:
HME TypeModelSizeQuantity
Grader ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
Management Discussion & Analysis 2018
Corporate Presentation 2013
Preliminary Economic Assessment 2013
Technical Report 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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