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Finland
Otso (Laiva) Mine

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 Location:
16 km SE from Raahe, Finland

  Address:
Laivakankaantie 503
Mattilanperä
Finland
92230
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life5.3 years (as of Jan 1, 2021)
The Lavia Gold Project is comprised of two license areas: Laiva and Oltava. The Laiva area comprises the advanced stage Laiva Gold Mine and satellite exploration projects at Mussuneva and Kaukainen. Oltava is an early-stage exploration property.

The Mine initially commenced production in January 2012; mining ceased in December 2013. The mill continued to operate, processing low-grade stockpile material until March 2014. The second period of operation was from August 2018, continuing to March 2019 when the operation was put into care and maintenance.

September 28, 2021 - The Otso Gold Corp. is pleased to announce that the Otso Gold Corp. restarted the process plant and began ramping-up production at the Otso Gold Mine on September 20, 2021.

November 3, 2021 - First gold pour.


Owners

Source: p. 2
CompanyInterestOwnership
Otso Gold Corp. 100 % Indirect
The Company (Otso Gold Corp.) owns, indirectly through Swedish and Finnish subsidiaries, 100% of the Otso Gold Mine (the ‘Mine’) a fully licensed and developed gold mine in Finland.

Contractors

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Deposit Type

  • Orogenic


Summary:

Laiva is classed as an orogenic gold deposit.

Mineralization comprises sheeted quartz-sulphide vein arrays within multiple, sub-parallel, mylonitic shear zone, hosted in metavolcanic and quartz diorite rocks. Mineralization occurs in two main bodies, the North Pit with Eastern Extention in the north, and the South Pit in the south.

At the North Pit, mineralised shear zones can be traced over a strike length of up to 600m, with the mineralized zone (including the Eastern Extention) occurring over an area of 1300 m by 450 m. In the South Pit area, mineralization occurs over an area of 500 m by 400 m. Mineralization has been intercepted at depths of up to 250 m below surface and is open down pit, apart from the western part of the North Pit where mineralization is truncated by the granite pluton. In both the North and South Pits, the mineralized shear zones vary in windth between <1 m to >10 m.

The mineralised shear zones display distinct structural trends in differetn parts of the deposit, with the orientation being dependent on proximity to the Red Shear Zone. West of the Red Shear Zone, mineralised shear zones strike east-northest and dip steeply (78 degrees to 85 degrees) south-southeast. Immediatly east of the Red Shear Zone, mineralised shear zones strike east-northest and dip steeply west- southwest, transitioning to av almost easterly strike wuth southerly, steep dip progressively to the east.

Within the mineralized shear zon ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Laiva Project is composed of a single project with three mining areas: the previously developed South Pit in the southwestern portion of the project; the previously developed North Pit area in the northern portion of the project; and the East Pit area located east of the North and South pit areas.

Standard mining technology has been utilized to create an open pit at each of the two mining areas. The South Pit has approximate dimensions of 620 m south to north by 540 m east to west and a maximum depth of 200 m below current ground level. The South is composed of three mining phases. The North Pit has approximate dimensions of 840 m south to north by 600 m east to west and a maximum depth of 170 m below current ground level. The North Pit is composed of four mining phases. All of the pit shells were selected from the Whittle open-pit optimization discussed below and were used to guide the design of two mining areas.

A mine contractor has been engaged by OTSO who will be used for most mining activities including site preparation, haul road construction and maintenance, mineralized material and bulk waste drilling and blasting, excavation and haulage of mineralized material and waste, management of waste dumps, oversize breakage, and pit dewatering. The mine contractor will provide all mining equipment. The contractor will provide operator training, supervision, mine consumables, and maintenance facilities for contractor’s operations. Mine maintenance pe ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityUnits2018
Gold oz 3,010
Silver oz  ......  Subscription required
All production numbers are expressed as metal in doré.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120192018
Ore tonnes mined  ......  Subscription required179,348 t319,261 t
Waste  ......  Subscription required1,286,137 t1,805,605 t
Tonnes processed  ......  Subscription required179,348 t319,261 t
Daily processing capacity  ......  Subscription required
Annual processing capacity  ......  Subscription required
Subscription required - Subscription is required.

Reserves at October 4, 2021:
All mineral resources are reported using an open pit gold cut-off of 0.323 g/t Au and an underground gold cut-off of 1.886 g/t Au.
Mineral reserves are reported at a cut-off grade of 0.323 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Proven 1,225,000 t Gold 1.234 g/t 48,600 oz
Probable 9,268,000 t Gold 1.063 g/t 316,800 oz
Proven & Probable 10,493,000 t Gold 1.083 g/t 365,400 oz
Measured 1,185,000 t Gold 1.283 g/t 48,900 oz
Indicated 12,846,000 t Gold 1.09 g/t 450,300 oz
Measured & Indicated 14,031,000 t Gold 1.107 g/t 499,200 oz
Inferred 8,985,000 t Gold 1.229 g/t 355,000 oz

Financials:

Units20182017
Revenue M USD 3.8  
After-tax Income M USD -28.7   1.6  



Heavy Mobile Equipment as of March 1, 2020:
HME TypeModelQuantityLeased or
Contractor
Excavator ....................... Subscription required Leased
Excavator ....................... Subscription required Leased
Truck (haul) ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2013

Corporate Filings & Presentations:

DocumentYear
Other 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
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................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Corporate Presentation 2018
Corporate Presentation 2018
Management Discussion & Analysis 2018
Preliminary Economic Assessment 2018
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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