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Philippines
Siana Mine

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 Location:
47 km N from Cabadbaran, Philippines

  Project Contacts:
22F BDO Equitable Bank Tower 8751 Paseo de Roxas, Salcedo Village
Makati City
Philippines
1226
Phone  ...  Subscription required
Fax(63-2) 7728-8515
EmailEmail
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageRestarting
Mine TypeOpen Pit & Underground
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
  • Longhole stoping
  • Cemented backfill
Mine Life14 years (as of Jan 1, 2020)
Through its major shareholder, Prime Resource Holdings Inc., TVI Resource Development Phils., Inc. has advised that funding to restart Siana is expected to be sourced from existing operating cash flows and debt funding if required, and is targeting a restart of operations in the first half of 2023.

TVIRD has commenced rehabilitation of the Process Plant and TSF construction works as it progresses toward restarting operations at its recently acquired 100% owned Siana Gold Mine.


Owners

Source: p. 8,22
CompanyInterestOwnership
TVI Pacific Inc. 30.66 % Indirect
Greenstone Resources Corp. (operator) 100 % Direct
On September 20, 2021, TVIRD completed its acquisition of 100% of the outstanding equity in Greenstone Resources Corporation (“GRC”), the owner and operator of the Siana Gold Project (“Siana”). Prior to the acquisition by TVIRD, GRC was the Philippines affiliate of Red 5 Limited (“Red 5”) (ASX: RED), a Perth, Western Australian-based gold company, the shares of which are listed on the Australian Securities Exchange.

TVI (TVI Pacific Inc.) holds a 30.66% interest in TVI Resource Development (Phils), Inc., a diversified Philippine resource company.

Contractors

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Deposit Type

  • Epithermal
  • Breccia pipe / Stockwork
  • Porphyry


Summary:

Deposit Type: Gold-Silver Replacement Type Deposit.

The Surigao Peninsula at the northeastern tip of Mindanao is characterized physiographically by a narrow north-northwest trending ridge, the Malimono ridge, and the wider and more geologically complex Diwata mountain range to the east. Intervening between these two topographic highs is a structurally-controlled valley, in fact a graben, from the Surigao lowlands in the north, to Lake Mainit and the Tubay Valley southwards. This topographically depressed corridor is interrupted by a young volcanic center, the Maniayao highlands, sitting north of Lake Mainit.

The oldest rock unit identified in Siana Project is the Bacuag formation, the limestone and marly sedimentary members of which mainly host the gold mineralization in the Siana mine. Unconformable on top of the Bacuag is the Middle-Late Miocene Mabuhay Clastics, observed southwest of the Siana pit, and the Late MiocenePliocene Timamana limestone, occurring as tower karsts mostly east of the Siana mine. The Bacuag and, probably, the Mabuhay clastics, are intruded by porphyritic andesite that is related to the Pliocene Maniayao volcanism. The andesite porphyry in the northern tip of the Siana pit is observed as post mineral intrusion to the Bacuag.

North-northwest trending faults are the major structures, several splays of which transect the parcel, including horse-tail splits in the north. Antithetic northeasterly faults are also observed to ........


Mining Methods

  • Truck & Shovel / Loader
  • Longhole stoping
  • Cemented backfill


Summary:

Mining and processing activities are suspended at Siana and placed the site on temporary standby in April 2017 due to uncertainty surrounding the mining policy of the Philippines and difficulty obtaining environmental permit approvals. Ongoing activities through the current suspension have included dewatering of the open pit, infrastructure maintenance and monitoring of geotechnical issues.

The Siana deposit mined by open pit methods with a plan that included a transition to underground mining following completion of open pit mining. Underground mine development has commenced with 445m of development completed, three portals developed and the establishment of several critical surface infrastructures for the mining operations.

Open Pit Staged Designs
Stage 5
Over time, the southwestern sector of the Siana open pit has deteriorated, due to geotechnical conditions. To manage this a Stage 5 cut-back from surface (+50 mRL) to -60 mRL, covering the southwest sector is planned. The major zone of slumping is within the blue dashed lines. The yellow lines indicate major steeply dipping structures and red dashed lines show the locations of significant tension cracks. The pit water level at the time of the image being taken is at about -45 mRL. Stage 5 will require the decommissioning of Pond B and the re-routing of the western perimeter drain (WPD) to accommodate a 1:20 Annual Return Interval (ARI) for rainfall. The redesigned Stage 5 maintains access t ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnits20172016LOM
Gold oz 41,37059,663616,520
Silver oz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics201720162015
Ore tonnes mined, LOM  ......  Subscription required
Plant annual capacity  ......  Subscription required1.1 Mt
Daily processing capacity  ......  Subscription required
Ore tonnes mined  ......  Subscription required620,007 t786,000 t
Waste  ......  Subscription required1,349,000 bcm3,258,000 bcm
Tonnes processed  ......  Subscription required587,461 t692,384 t
Daily mining rate  ......  Subscription required8,000 bcm
* According to 2020 study.
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Reserves at June 30, 2020:
Underground Mineral Resources: Cut-off 2.4 g/t Gold; Open Pit Mineral Resources: Cut-off 0.7 g/t Gold.

Underground Ore Reserve: Cut-off 2.4 g/t Gold; Open Pit Ore Reserve: Cut-off 0.7 g/t Gold.

CategoryOreTypeTonnage CommodityGradeContained Metal
Probable In-Situ (OP) 290 kt Gold 1.1 g/t 10 koz
Probable In-Situ (UG) 3,010 kt Gold 4.1 g/t 396 koz
Probable In-Situ (OP) 290 kt Silver 6.6 g/t 61 koz
Probable In-Situ (UG) 3,010 kt Silver 6.7 g/t 644 koz
Indicated In-Situ (OP) 650 kt Gold 3.7 g/t 77 koz
Indicated In-Situ (UG) 3,400 kt Gold 5.2 g/t 566 koz
Indicated In-Situ (OP) 650 kt Silver 7.9 g/t 164 koz
Indicated In-Situ (UG) 3,400 kt Silver 7.2 g/t 779 koz
Inferred In-Situ (OP) 30 kt Gold 2.8 g/t 3 koz
Inferred In-Situ (UG) 500 kt Gold 9.3 g/t 153 koz
Inferred In-Situ (OP) 30 kt Silver 1.2 g/t 1 koz
Inferred In-Situ (UG) 500 kt Silver 11.2 g/t 186 koz
Total Resource In-Situ (OP) 970 kt Gold 2.9 g/t 90 koz
Total Resource In-Situ (UG) 3,900 kt Gold 5.7 g/t 719 koz
Total Resource In-Situ (OP) 970 kt Silver 7.3 g/t 226 koz
Total Resource In-Situ (UG) 3,900 kt Silver 7.7 g/t 965 koz

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.

Operating Costs:

Units20172016
Processing costs ($/t milled) AUD 2628

Financials:

Units20172016
Revenue M AUD 68.5   97.3  
Gross profit M AUD -3.2   29.9  
Pre-tax Income M AUD -10.3   24.8  



Heavy Mobile Equipment as of November 24, 2020:
HME TypeModelSizeQuantityStatusLeased or
Contractor
Drill (long hole) ....................... Subscription required Proposed Leased
Excavator ....................... Subscription required 85 t ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required Proposed Leased
Truck (dump) ....................... Subscription required 40 t ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required Proposed Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 13, 2022
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Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Annual Report 2017
Press Release 2017
Other 2016
Operations & Technical Update 2015
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