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Australia
Mt Gibson Project

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 Location:
74 km SW from Paynes Find, Western Australia, Australia

  Project Contacts:
Level 3, 40 Kings Park Road
West Perth
Western Australia, Australia
6005
Phone  ...  Subscription required
Fax+61-8-9212-4699
EmailEmail
WebsiteWeb
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
Mine Life9.7 years (as of Jan 1, 2023)
Gold production commenced at the Mt Gibson Gold Project (MGGP) in 1986 on a modest laterite resource. By 1999, when the mine was placed on care and maintenance, the MGGP had mined 14 open pits with a maximum depth of approximately 100 metres, mining oxide, transitional and some primary ore zones.


Owners

Source: p. 10
CompanyInterestOwnership
Capricorn Metals Ltd. 100 % Indirect
Capricorn is the 100% beneficial owner of mining tenure that fully encompass the Mt Gibson deposit and all areas required for project infrastructure.

The resource is located across mining tenements held by wholly-owned Capricorn subsidiaries METROVEX PTY LTD and CRIMSON METALS PTY LTD.

Contractors

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Deposit Type

  • Banded iron formation hosted
  • Laterite
  • Hydrothermal
  • Vein / narrow vein


Summary:

The Mt Gibson Gold Project tenements are located at the southern extremity of the Retaliation Greenstone Belt, in the SW portion of the Yalgoo-Singleton Greenstone Belt in the Murchison Province of the Yilgarn Craton. The tenements are mostly covered by a veneer of alluvial quartz sands and laterite gravels, with sporadic greenstone subcrop and outcrop, increasingly exposed in the north of the project area. The mineralised laterite gravels are situated slightly down-slope from the lode deposits on the Gibson trend. Regionally, the greenstone belt has been metamorphosed to middle amphibolite facies and hosts a number of Au-Cu deposits and prospects, including Golden Grove, 90km to the northwest of Mt.Gibson.

he deposit has been defined by drilling over an 8km strike length and as deep as 950m down-dip where it is still mineralised and open down-dip. The mineralised shoots are present in drilling as broad zones up to 50m wide and are continuous down plunge. It is thought the shoots are developed in dilation zones along the main structures. A large laterite and oxide weathering zone is developed over the primary geology and this is mineralised in the near surface, up-dip position of the main shoots of primary mineralisation. A thin veneer of transported sand and colluvium soil covers the deposit and is typically less than 6m thick, the transition/fresh rock boundary is about 40 to 60m below surface.

The lode style mineralisation at Mt. Gibson is predominant ........


Mining Methods


Summary:

A conventional load and haul mining method has been selected for the development of the MGGP. Open pit mining activities are expected to be conducted by an experienced third-party earthmoving contractor.

All mining is proposed to take place 24 hours per day, 7 days per week using conventional excavators and haul trucks as used in open pit gold mining operations world-wide. Ore will be mined in benches of between 2.5 and 5.0 metres for grade and selectivity considerations. The ore boundaries will be determined by grade control drilling.

The seven open pits resulting from the Ore Reserve estimation have been assessed for project sizing and sequencing using MineMax software by Cube to guide balancing the needs of project scale, pit mining rate capabilities, and maximising project cashflow. Over 90% of mill feed to the process plant will be sourced from 3 key open pits, Orion (North and South joined), Enterprise/Hornet and S2.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:
Gold production averaging 152,000 ounces per annum over the project’s first 7.5 years of operation and average annual production of 138,000 ounces per annum over 10 year life of mine (LOM).

CommodityUnitsAvg. AnnualLOM
Gold koz 1521,340
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Hourly processing rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2023 study.
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Reserves at :


Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold AUD  ......  Subscription required
All-in sustaining costs (AISC) Gold AUD  ......  Subscription required
Assumed price Gold AUD  ......  Subscription required
* According to 2023 study / presentation.
Subscription required - Subscription is required.

2023 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscription required
OP OpEx $M AUD  ......  Subscription required
Processing OpEx $M AUD 782
G&A costs $M AUD 83
Total OpEx $M AUD  ......  Subscription required
Gross revenue (LOM) $M AUD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscription required
Pre-tax NPV @ 5% $M AUD  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Water Supply
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Pre-Feasibility Study Report 2023
Quarterly Report 2023
Year-end Mineral Reserves 2023
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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