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French Guiana
Montagne d'Or Project

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 Location:
181 k W from Cayenne, French Guiana

  Project Contacts:
1 rue de l’Indigoterie – Immeuble Chopin
Rémire-Montjoly
French Guiana
97354
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life12 years (as of Jan 1, 2020)
Latest NewsOrea Receives Government Approvals and Signs Definitive Agreement to Close Acquisition of 100% of 5 million Ounce Montagne d'Or Gold Deposit     January 4, 2023


Owners

Source: p. 43,569
CompanyInterestOwnership
Orea Mining Corp. 100 % Indirect
The Montagne d’Or project is being developed by Montagne d’Or joint venture. This is a joint venture between Nordgold SE (55.01%) and Orea Mining Corp., formerly Columbus Gold Corp.,a Canada-based gold exploration and development company (44.99%).

September 13, 2022, Orea Mining Corp. is pleased to report that the French government ministry responsible for overseeing matters related to Russian sanctions, has approved the proposed transaction with Nord Gold plc (“Nordgold”), whereby Orea is acquiring Nordgold’s 55.01% interest (for a total of 100%) in the Montagne d’Or joint-venture company in French Guiana, France.

Contractors

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Deposit Type

  • Vein / narrow vein
  • VMS
  • Breccia pipe / Stockwork


Summary:

The current interpretation is that Montagne d’Or is a deformed volcanogenic massive sulphide deposit (Ross 2014).

The Montagne d’Or prospect consists of a family of tabular mineralized bodies that form closelyspaced sub-parallel east-northeast (084°) striking and steeply (72°) south-dipping mineralized zones. Mineralization has been encountered over a strike length of more than 2,500 m and to a vertical depth of at least 200 m. Only a small portion of the gold mineralization has been subjected to upper level oxidation. The significant fine-grained gold mineralization is principally affiliated with sulphide veins and masses within fresh country rock that begins at shallow depths.

Two significant styles of gold mineralization have been recognized although they show a gradational relationship between each other:

-SMS with gold mineralization
-Sulphides in disseminated stringers with gold mineralization

SMS was a term coined by previous operators and was used to support a “VMS” type model for the mineralization. It is characterized by a high sulphide content (>20%) and occurs over intervals ranging from tens of centimetres to up to 4 m. This mineralization was later interpreted to represent zones of thicker, deformed and transposed sulphide ± quartz-rich veins and a denser distribution of disseminated sulphide as compared to that of the disseminated type.

The SMS also includes sulphide-rich breccia dykes, which host rol ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The project is located on the side of a moderately sized hill, surrounded by dense tropical rainforest in a remote location that has been disturbed by historical illegal mining. Mining will be via an open pit, approximately 2.5 km long by 500 m wide, and of varying depth from surface, with a stripping ratio of 4.5 t waste:t ore. The open pit is located on the side of a hill. The average pit north wall is approximately 125 m deep from original ground surface, and the average pit south wall is approximately 225 m in height. The pit centroid depth from original ground surface is 185 m.

The mine production schedule is based on feeding the processing facility operating at a rate of 4.6 Mtpa of mill feed.

A low grade stockpile has been designed to ensure that the highest grade ore is processed first, ahead of lower grade ore which will be processed at the end of the mine life. The maximum low grade stockpile size is approximately 8 Mt. Mining rates have been adjusted by up to 30% to account for the wet and dry seasons that will be encountered during operations.

The open pit mining methods will use front-end loaders and hydraulic excavators to load haul trucks for waste and ore haulage. Mining activities will include site clearing, removal of growth medium (topsoil), free-digging, drilling, blasting, loading, hauling and mining support activities. Material within the pit will be generally blasted on a 5 m high bench. Most of the saprolite material (a ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 2142,572
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio 4.5 kt *
Waste tonnes, LOM 241,753 kt *
Ore tonnes mined, LOM 54,114 kt *
Total tonnes mined, LOM 295,867 kt *
Plant annual capacity 4,500 kt *
Daily processing rate 12,330 t *
Tonnes processed, LOM 54,115 kt *
Annual processing rate 4,575 kt *
Annual mining rate 35,091 kt *
* According to 2017 study.

Reserves at December 31, 2020:
Cut-off grade for resources is 0.4 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Proven 8.245 Mt Gold 2 g/t 527 koz
Probable 45.868 Mt Gold 1.5 g/t 2,218 koz
Proven & Probable 54.113 Mt Gold 1.6 g/t 2,745 koz
Measured 10.328 Mt Gold 1.8 g/t 599 koz
Indicated 74.818 Mt Gold 1.35 g/t 3,247 koz
Measured & Indicated 85.146 Mt Gold 1.41 g/t 3,846 koz
Inferred 20.202 Mt Gold 1.48 g/t 964 koz
Total Resource 105.348 Mt Gold 1.42 g/t 4,810 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD 606 / oz *  
All-in sustaining costs (AISC) Gold USD 779 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2017 study / presentation.

Operating Costs:

Units2017
OP mining costs ($/t mined) USD 2.44 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2017 study.
Subscription required - Subscription is required.

2017 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 621.8
G&A costs $M USD 224.3
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Net 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 @ 5% $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
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of April 28, 2017:
HME TypeModelSizeQuantity
Backhoe ....................... Subscription required 102 kW ....................... Subscription required
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 10, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2017

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
Corporate Presentation 2018
Press Release 2018
Feasibility Study Report 2017
Subscription required - Subscription is required.

News:

NewsDate
Orea Receives Government Approvals and Signs Definitive Agreement to Close Acquisition of 100% of 5 million Ounce Montagne d'Or Gold Deposit January 4, 2023

Subscription required - Subscription is required.

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