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Brazil
Coringa Project

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 Location:
67 km SE from Novo Progresso, Brazil

  Project Contacts:
Rua Tiao Brabo, S/N, Otavio Onetta - Quadra179 Lote 3 Setor 6
Novo Progresso
Brazil
68193-000
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeUnderground
Commodities
  • Gold
  • Silver
Mining Method
  • Open stoping
Production Start...
Mine Life9 years (as of Jan 1, 2019)
September 20, 2021 - Serabi Gold plc, the Brazilian-focused gold mining and development company, is pleased to announce the start-up of mining development at the Company’s wholly owned gold project at Coringa.

The development of the mine portal began in late July, to reach the Serra zone, one of three main zones at Coringa. Blasting into hard rock is now well underway.


Owners

Source: p. 12
CompanyInterestOwnership
Serabi Gold Plc. 100 % Indirect
Chapleau Exploracao Mineral Ltda. (operator) 100 % Direct
The Coringa Gold Project consists of eight exploration concessions or tenements totaling 23,620.03 hectares (ha). All concessions are owned by Chapleau, the 100% owned Brazilian subsidiary of Serabi.

Contractors

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Deposit Type

  • Orogenic
  • Vein / narrow vein


Summary:

The Coringa Gold Project is underlain by granitic intrusions of the Maloquinha group and rhyolites of the Iriri group (Salustiano Formation). The granites are granular, medium-grained, and consist of pink feldspar and quartz. The rhyolites are fine to medium-grained, porphyritic, and strongly magnetic. Sanidine and quartz phenocrysts occur in a fine-grained matrix of sanidine-quartz. Minor amounts of biotite also occur in the matrix which has been altered to chlorite.

There are two dominant structural trends on the Coringa Gold Project property:
• The 310° structures are interpreted as strike-slip faults with probably a dextral (right lateral) sense of displacement.
• Structures trending at 345° are interpreted as R-shears.

Mineralized veins at the Coringa Gold Project are associated with the R-shears. The dip of the veins ranges from 750 to the east to vertical, but they occasionally dip steeply westward (e.g., Galena Vein).

Mineralization at the CoringaGold Projectis associated with a shear/vein system that has a strike length of over 7 km. The mineralized zones vary in thickness from <1 centimeter (cm) up to 14 meters. Several veins (i.e., Galena, Mãe de Leite, Meio, and Come Quieto) occur along the main mineralized corridor and others, such as Serra, Demetrio, and Valdette, form subparallel zones. The average thicknesses for the veins included in the estimate of mineral resources are: Serra 0.52 m, Galena & Mãe de Leite 0.59 m, M ........


Mining Methods

  • Open stoping


Summary:

The underground mining method at Coringa will involve driving vertical raises from drifts driven through the vein, and subsequently breasting along the strike of the vein on each side of the vertical raise. The primary equipment used for production will be jackleg and stoper drills. This method was chosen due to its ability to effectively mine the narrow vein deposit while minimizing dilution. Although this mining method does utilize a large number of drillers which leads to a higher labor cost, it does eliminate the larger initial capital investment needed when using more advanced mining equipment. This proven mining method is currently in use at the geographically and geologically similar Palito mine, which is also owned by Serabi.

Vein systems have been broken into separate mining areas. This separation was based upon a trade-off analysis between a separate portal and ramp versus drifting over to the adjacent continuous stope area within each vein system. Each mining area will require its own portal, ramp, ventilation, dewatering, and underground utilities. The Serra vein system requires only one portal due to the continuous grade distribution within the planned stopes.

The production sequence was determined by mining the higher grade resource areas first.

Stopes are 30 meters vertical along dip and 32 meters horizontal along strike. Stopes are mined from a vertical raise driven from drifts. Each stope will contain eight stope raises. Acces ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 38,000288,046
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily ore mining rate 465 t *
Ore tonnes mined, LOM 1,130,000 t *
Plant annual capacity 170,000 t *
Daily processing capacity 645 t *
Tonnes processed, LOM 1,130,298 t *
Annual processing capacity 212,000 t *
Annual ore mining rate 170,000 t of ore *
* According to 2019 study.

Reserves at September 6, 2019:
Base case cut-off is 2 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Indicated 735 kt Gold 8.24 g/t 195,000 oz
Inferred 1,645 kt Gold 6.54 g/t 346,000 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
UG mining costs ($/t milled) USD 91.8 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 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
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Heavy Mobile Equipment as of October 21, 2019:
HME TypeModelQuantityStatusLeased or
Contractor
ANFO Loader ....................... Subscription required Proposed Leased
Dozer ....................... Subscription required ....................... Subscription required Existing
Drill ....................... Subscription required ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Excavator ....................... Subscription required ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Scoop Tram ....................... Subscription required ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required Proposed
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Oct 21, 2019
....................... Subscription required ....................... Subscription required Subscription required Oct 21, 2019
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Press Release 2018
Corporate Presentation 2017
Feasibility Study Report 2017
Press Release 2017
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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