Overview
Status | Archived |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 4 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”. |
Source:
p. 5
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.
Deposit Type
- Vein / narrow vein
- Breccia pipe / Stockwork
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.
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.
Source:
Processing
- Gravity separation
- Flotation
- Concentrate leach
- Carbon in leach (CIL)
- Carbon adsorption-desorption-recovery (ADR)
- Elution
- Solvent Extraction & Electrowinning
Source:
Recoveries & Grades:
Commodity | Parameter | Avg. LOM |
Gold
|
Recovery Rate, %
| 90 |
Projected Production:
Commodity | Units | LOM |
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:
Category | Tonnage | Commodity | Grade | Contained 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:
| Commodity | Units | Average |
Cash costs
|
Gold
|
AUD
|
891 / oz *
|
Assumed price
|
Gold
|
AUD
|
1,500 / oz *
|
* According to 2016 study / presentation.
2016 Study Costs and Valuation Metrics :
Metrics | Units | LOM 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:
p.150
HME Type | Model | Size | Quantity |
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: