Overview
Stage | Restarting |
Mine Type | Open Pit & Underground |
Commodities |
|
Mining Method |
- Truck & Shovel / Loader
- Longhole stoping
- Cemented backfill
|
Mine Life | 14 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. |
Source:
p. 8,22
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 ........

Source:

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Flow Sheet:
Summary:

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Projected Production:
Commodity | Units | 2017 | 2016 | LOM |
Gold
|
oz
| 41,370 | 59,663 | 616,520 |
Silver
|
oz
| ......  | ......  | |
All production numbers are expressed as metal in doré.
Operational Metrics:
Metrics | | 2017 | 2016 | 2015 |
Ore tonnes mined, LOM
| ......  | | | |
Plant annual capacity
| ......  | | | 1.1 Mt |
Daily processing capacity
| ......  | | | |
Ore tonnes mined
| ......  | 620,007 t | 786,000 t | |
Waste
| ......  | 1,349,000 bcm | 3,258,000 bcm | |
Tonnes processed
| ......  | 587,461 t | 692,384 t | |
Daily mining rate
| ......  | | | 8,000 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.
Category | OreType | Tonnage | Commodity | Grade | Contained 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:
| Commodity | Units | Average |
Assumed price
|
Silver
|
USD
|
...... &nbs
|
Assumed price
|
Gold
|
USD
|
...... &nbs
|
* According to 2020 study / presentation.
Operating Costs:
| Units | 2017 | 2016 |
Processing costs ($/t milled)
|
AUD
| 26 | 28 |
Financials:
| Units | 2017 | 2016 |
Revenue
|
M AUD
|
68.5
|
97.3
|
Gross profit
|
M AUD
|
-3.2
|
29.9
|
Pre-tax Income
|
M AUD
|
-10.3
|
24.8
|
Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Sep 13, 2022
|
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