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Dominican Republic
Romero Project

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 Location:
123 km NE from Port-au Prince, Dominican Republic

  Project Contacts:
Av. JFK, Plaza Compostela, Suite 6I4 Ens. Paraiso
Santo Domingo
Dominican Republic
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Gold
  • Copper
  • Silver
  • Zinc
Mining Method
  • Mechanized Cut & Fill
  • Overhand Cut & Fill
  • Underhand Cut & Fill
  • Sub-level stoping
  • Longhole stoping
  • Paste backfill
Mine Life8 years (as of Jan 1, 2016)


Owners

Source: p. 11
CompanyInterestOwnership
GoldQuest Mining Corp. 100 % Indirect
GoldQuest Dominicana SRL 100 % Direct
GoldQuest Mining (BVI) Corp. 100 % Indirect
GoldQuest owns a 100% interest in the Tireo Property and Romero Project through its wholly owned Dominican subsidiary, GoldQuest Dominicana), via GoldQuest Mining (BVI) Corp., a British Virgin Islands company.

Contractors

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Deposit Type

  • Epithermal
  • Breccia pipe / Stockwork


Summary:

Romero is located on the south side of the Central Cordillera of Hispaniola and is hosted by the Cretaceous-age Tireo Formation volcanic rocks and limestones, which formed in an island arc environment. The deposit geology is a relatively flat lying sequence of intercalated subaqueous, intermediate to felsic volcanic and volcaniclastic rocks and limestones on the west side of thick rhyolite flows or domes. Mineralization is relatively stratabound and flat lying and is mainly hosted by a dacite breccia tuff.

Mineralization outcrops in a number of places were eroded by rivers and streams, and continuity under barren cap rock has been demonstrated by drilling. Hydrothermal alteration and gold mineralization can be traced for over 2,200 m from Romero to Romero South and beyond to the south.

The thickness of the altered dacite tuff breccia horizon is up to about 65 m at Romero South and up to more than 200 m (open) at Hondo Valle and Romero. The mineralized horizon is capped by limestone or dacite to andesite lavas.

Mineralization is intermediate sulphidation epithermal in style. The mineralization is associated with quartz-pyrite, quartz-illite-pyrite and illite-chlorite-pyrite alteration. Alteration is generally strongest in the upper part of the mineralized zone and decreases in intensity with depth. Gold mineralization is associated with disseminated to semi-massive sulphides, sulphide veinlets and quartz-sulphides. The sulphides comprise pyri ........


Mining Methods

  • Mechanized Cut & Fill
  • Overhand Cut & Fill
  • Underhand Cut & Fill
  • Sub-level stoping
  • Longhole stoping
  • Paste backfill


Summary:

Two mining methods are proposed for the Romero deposit, sub-level long hole (LH) stoping and mechanized cut and fill (MCF). A combination of paste backfill and develop waste rock fill will be used in mining sequence. LH stoping will be used in areas of complete ground strength and generally thick Mineral Resources. MCF will be utilized in the areas of pour ground conditions and/or thin Mineral Resources which does not warrant LH stoping.

Long hole (LH) stoping provides high productivity at low cost from a small number working faces. All stopes will be fixed with a mixture of paste fill and/or development waste.

Geotechnical design have determined stope sizes of 30 m along strike, with widths up to 15 m wide and sub-level intervals of 20 m. Stope extraction sequencing is planned to be in a primary-secondary fashion with the lower stopes leading the stopes above. Primary and secondary stopes are sized equally at 15 m wide. After the primary stopes are mined, they will be filled with cemented paste backfill of adequate strength to allow exposure of 20 m high x 30 m long fill wall adjacent to the secondary stopes that will be mined alongside. Two lifts of primary stopes will be mined before the first secondary stopes are started to allow the drilling drifts to be reused as mucking drifts for the next sub-level above and to minimize the stoping span.

LH stopes will be developed by driving a central ore drift up to a mineralization thickness to a m ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in concentrate koz 640
Copper Metal in concentrate M lbs  ......  Subscription required
Copper Concentrate kt  ......  Subscription required  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required

Operational Metrics:

Metrics
Daily milling rate 2,702 t *
Daily mining capacity 2,800 t of ore *
Daily milling capacity 2,800 t *
Annual mining capacity 1,022 kt of ore *
Waste tonnes, LOM 940 kt *
Ore tonnes mined, LOM 7,031 kt *
Total tonnes mined, LOM 7,971 kt *
Tonnes milled, LOM 7,031 kt *
* According to 2016 study.

Reserves at September 27, 2016:
Mineral Reserves are reported at a net smelter return cut-off value of $70 NSR. Cut-off NSR metal prices: Cu $2.50/lb Au $1,250/oz Ag $17.00/oz; Recovery: Cu-96.8 Au-71.7 Ag-54.4, Payable: Cu-96.5 Au90.0 Ag-95.0, TCRC: $257.83/dmt, Cu concentrate 20%.

CategoryTonnage CommodityGradeContained Metal
Probable 7,031 kt Gold 3.72 g/t 840 koz
Probable 7,031 kt Copper 0.88 % 136 M lbs
Probable 7,031 kt Silver 4.33 g/t 980 koz
Probable 7,031 kt Zinc
Probable 7,031 kt Gold Equivalent 5 g/t 1,126 koz
Indicated 20,230 kt Gold 2.67 g/t 1,738 koz
Indicated 20,230 kt Copper 0.61 %
Indicated 20,230 kt Silver 4 g/t
Indicated 20,230 kt Zinc 0.3 %
Indicated 20,230 kt Gold Equivalent 3.48 g/t 2,265 koz
Inferred 3,020 kt Gold 2.03 g/t 197 koz
Inferred 3,020 kt Copper 0.33 %
Inferred 3,020 kt Silver 29 g/t
Inferred 3,020 kt Zinc 0.32 %
Inferred 3,020 kt Gold Equivalent 2.47 g/t 240 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold Equivalent USD 489 / oz *  
Cash costs Gold USD 669 / oz *  
Cash costs Gold USD 191 / oz *†  
All-in sustaining costs (AISC) Gold USD 595 / oz *†  
Assumed price Copper USD 2.5 / lb *  
Assumed price Silver USD 20 / oz *  
Assumed price Gold USD 1,300 / oz *  
* According to 2016 study / presentation.
† Net of By-Product.

Operating Costs:

Units2016
UG mining costs ($/t milled) USD 27.7 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2016 study.
Subscription required - Subscription is required.

2016 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 81.4
G&A costs $M USD 38.3
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net Operating Income (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 @ 0% $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 0% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  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
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Proposed Heavy Mobile Equipment as of September 27, 2016:
HME TypeSizeQuantity
ANFO Loader ....................... Subscription required
....................... Subscription required ....................... Subscription required
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....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Jan 27, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Management Discussion & Analysis 2022
Pre-Feasibility Study Report 2016
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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