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Australia
Big Hill Project

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 Location:
Stawell, Victoria, Australia

  Project Contacts:
PO Box 265
Stawell
Victoria, Australia
3380
Phone+61 3 5358 1022
WebsiteWeb
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  • Mining
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  • Reserves
  • Costs & Financials
  • Fleet
  • Filings & News

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Overview

StatusArchived
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life4 years (as of Jan 1, 2014)
Stawell Gold Mines mining licence MIN5260 has been renewed for 15 years to 30 May 2035.
A condition has been included to preclude open pit mining of “Big Hill”.


Owners

Source: p. 5
CompanyInterestOwnership
Stawell Gold Mines Pty Ltd. 100 % Direct
Arete Capital Partners Ltd. 100 % Indirect
On December 21, 2017, Kirkland Lake Gold Ltd. completed a transaction to sell to an affiliate of Arete Capital Partners Ltd (“Arete”) all the issued and outstanding common shares of its indirectly held wholly owned subsidiary, Stawell Gold Mines Pty Ltd.

Contractors



Deposit Type

  • Vein / narrow vein
  • Breccia pipe / Stockwork

Source: Source p.4, 5

Summary:

Big Hill is the up dip extension of the Magdala system. It contains Basalt Contact mineralisation, Central Lode mineralisation and Stockwork mineralisation, all typically seen in the Magdala system. Big Hill geology and mineralisation can be broken into 4 main domains: Mariner’s, Allen’s, Iron Duke and Magdala Flank. All except Mariner’s and Allen’s are separated by faults.


Mining Methods

  • Truck & Shovel / Loader

Source:

Summary:

The project proposes the mining of two open cut pits, the North Pit and the South Pit. The North Pit will be mined first and provide near immediate production contribution in light of outcropping ore zones. On completion of the North Pit, the pit will be filled and progressively rehabilitated as the South Pit is mined. The South Pit is effectively an extension to economic depth of the former “Davis Pit” which was mined in the late 80’s and early 90’s. On completion of the South Pit, all waste rock will be returned to the pit voids and a full re-establishment and rehabilitation program will be undertaken with additional waste rock and top soil contributions from historic stockpiles.

The mine life is anticipated to be in the order of 3.5 to 4 years (excluding backfilling of the South Pit) using a mining fleet consisting of one 120 tonne and one 190 tonne excavator coupled with an average of five 90t trucks. Test work indicates material can be extracted using a rip and dig or free dig mining methods, with some drill and blast planned in the lower 30m of both pits.


Crushing and Grinding
Source: Source


Processing

  • Gravity separation
  • Flotation
  • Concentrate leach
  • Carbon in leach (CIL)
  • Carbon adsorption-desorption-recovery (ADR)
  • Elution
  • Solvent Extraction & Electrowinning

Source: Source

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, % 90

Projected Production:

CommodityUnitsLOM
Gold koz 119
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Ore tonnes mined, LOM 2.73 Mt *
* According to 2016 study.

Reserves at December 31, 2016:

CategoryTonnage CommodityGradeContained Metal
Probable 2,700 kt Gold 1.51 g/t 132 koz
Indicated 2,971 kt Gold 1.68 g/t 160 koz
Inferred 183 kt Gold 1.24 g/t 7 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold AUD 891 / oz *  
Assumed price Gold AUD 1,500 / oz *  
* According to 2016 study / presentation.

2016 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Total CapEx $M AUD 17.6
OP OpEx $M AUD 48.3
Processing OpEx $M AUD 40.2
Total OpEx $M AUD 106.1
Royalty payments $M AUD 0.2
Gross revenue (LOM) $M AUD 172.9
Pre-tax Cash Flow (LOM) $M AUD 46.9
After-tax Cash Flow (LOM) $M AUD 20.6
Pre-tax NPV @ 8% $M AUD 37.3
After-tax NPV @ 8% $M AUD 20
Pre-tax IRR, % 121.4
After-tax IRR, % 74.5
Pre-tax payback period, years 1.6
After-tax payback period, years 1.8


Proposed Heavy Mobile Equipment as of March 31, 2014:
Source: Source p.150
HME TypeModelSizeQuantity
Dozer Caterpillar D11 2
Drill 1
Excavator 120 t 1
Excavator 190 t 1
Grader 1
Truck (haul) 90 t 4
Truck (water) 90 t 1


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2016
Financial Review 2016
Management Discussion & Analysis 2016
Technical Report 2016
Feasibility Study Report 2014
Press Release 2014
Preliminary Economic Assessment 2013

Aerial view:

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