Overview
Stage | Restarting |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 14 years (as of Jan 1, 2020) |
Siana Gold Project soft commissioning of the plant commenced on December 9, 2022, and is ongoing.
Key areas of focus continue to be the dewatering of the pit and the reconditioning and commissioning of the Process Plant. The construction of TSF-6 continues to make significant progress where permission of the TSF Engineer has been given to start utilizing the facility for mill tails deposition while continuing to complete the embankment. |
Source:
p. 4,8
On November 4, 2021, TVI Resource Development (Phils.) Inc. (TVIRD) completed its acquisition of 100% of the outstanding equity in Greenstone Resources Corporation (“GRC”), the owner and operator of the Siana Gold Mine (“Siana”).
TVI (TVI Pacific Inc.) holds a 30.66% interest in TVI Resource Development (Phils), Inc.
Contractors
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Deposit Type
- Replacement
- Epithermal
- Breccia pipe / Stockwork
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 ........

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.
Key areas of focus continue to be the dewatering of the pit and the reconditioning and commissioning of the Process Plant.
For the Siana pit in May 2020, Mining One has recommended 23 to 38 degrees in four sectors around the pit over the vertical 50 mRL to -10 mRL; 32 to 43 degrees in three sectors around the pit over the vertical range -10 mRL to -70 mRL and 32 to 40 degrees for three sectors from -70 mRL to pit bottom and angles flattened to 25 degree in upper elevation rocks to surface.
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, coveri ........

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 | 2022 | | 2017 |
Plant annual capacity
| ......  | 1.1 Mt | |
Daily mining rate
| ......  | 8,000 bcm * | |
Daily processing capacity
| ......  | 3,264 dmt | |
Ore tonnes mined, LOM
| ......  | 5,769,718 t * | |
Ore tonnes mined
| ......  | | 620,007 t |
Waste
| ......  | | 1,349,000 bcm |
Tonnes processed
| ......  | | 587,461 t |
* According to 2020 study.
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Reserves at June 30, 2020:
Underground Ore Reserve: Cut-off 2.4 g/t Gold; Open Pit Ore Reserve: Cut-off 0.7 g/t Gold.
Underground Mineral Resources: Cut-off 2.4 g/t Gold; Open Pit Mineral Resources: 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
|
......
|
Assumed price
|
Gold
|
USD
|
......
|
* 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
|
Corporate Filings & Presentations:
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