Canada

Courageous Lake Expansion Project

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Categories

Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life15.9 years (as of Jan 1, 2024)
ShapshotThe Courageous Lake is one of Canada largest undeveloped projects by gold resources.

The Courageous Lake Project includes two deposits: the Courageous Lake deposit, and the Walsh Lake deposit.

The PEA is a standalone mine plan that has been undertaken to evaluate the conceptual expansion of the open pit below the base of the permafrost. The 2024 PEA assumes the 2024 PFS has been completely mined out prior to PEA mining activities.

The Mineral Resources used in the 2024 PEA mine plan are exclusive of the pits mined out in the 2024 PFS plan and the associated Mineral Reserves or Mineral Resources inside of those pits. The 2024 PEA mine plan includes Inferred Resources.
Related AssetCourageous Lake Project

Owners

SourceSource
CompanyInterestOwnership
Seabridge Gold Inc. 100 % Indirect
Courageous Lake project is 100%-owned by Seabridge Gold Inc.

Seabridge assigned its right to its wholly owned subsidiary, Seabridge Gold (NWT) Inc.

Deposit type

  • Vein / narrow vein
  • Epithermal

Summary:

The Courageous Lake Project includes two deposits: the Courageous Lake deposit, and the Walsh Lake deposit.

Deposit Types
Courageous Lake deposit
The Courageous Lake deposit is a stratiform series of near-vertical, elongate lenticular mineralized domains hosted in Archean tuffaceous clastic rocks and ash-flow tuff. Gold mineralization is interpreted to be a product of an episodic, epithermal-like, submarine and subaerial, hydrothermal system.

Walsh Lake Deposit
The Walsh Lake zone is contained in quartz vein and silicic alteration within and surrounding shears. Mineralized material mineralogy is dominated by arsenopyrite and free gold. This style of orogenic gold deposit is common in Archean greenstone belts.

Mineralization
Courageous Lake Deposit Mineralization
Since its discovery, several common points have been used to describe the felsic ash tuff (FAT) deposit, including:
• A series of gold zones concentrated in long and narrow bands.
• The deposit is hosted by metasedimentary and metavolcanic rocks.
• Gold concentrations are associated with the introduction of silica, muscovite, and sulphide minerals.

The FAT deposit is located between the north shore of Matthews Lake and the south shore of Courageous Lake. It is made up of at least 13 discrete, steep east-dipping, elongate lenticular zones that vary in thickness from 20 to 125-m-wide. The continuity of these 13 zones has been demonstrated to be at least 1,900 m long, 800 m-wide and, although open at depth, at least 1200 m deep.

Walsh Lake Mineralization
The Walsh Lake target is 10 km south of the FAT deposit, adjacent and south of the historical Tundra Gold Mine that was abandoned in 1999. The north part of this target area is connected by a road network that links to the FAT deposit. Walsh Lake is interpreted to be a series of structural zones, parts of which are on strike with the deposits exploited in the Tundra Gold Mine.

The Walsh Lake target area stretches one and a half kilometer south from the former mine. This area has undergone several generations of exploration, including some limited past drilling campaigns showing these gold occurrences were located near a regional stratigraphic contact, which could provide significant strike potential. Gold-bearing quartz veins are hosted in sheared rocks near the contact between metamorphosed graywacke and mafic volcanic rocks. The metagraywacke units are fine to coarse sand size material with well preserved, laterally discontinuous, fining upward sequence of graded beds. This turbidite section is distinguished by the absence of volcanic and chemical sedimentary rocks intercalated in the Bouma beds. Metamorphosed mafic volcanic rocks are black to green-black, dense, fine grained, and typically show fragmental textures. These rocks are principally made up of fine hornblende and plagioclase laths, with localized irregular and fractured dark garnet crystals.

Drilling on the Walsh Lake contact zone consistently encounters silica alteration with gold-bearing intervals up to 20 m above the contact in siltstone and up to 60 m below the contact in mafic volcanic rocks interbedded with siltstone or felsic volcanic rocks. Gold is concentrated in arsenopyrite-bearing silica-altered sheared rocks containing abundant quartz veins, with true widths from one to 12 m. The shearing is almost parallel with bedding. This deformation event is associated with the tilting and regional metamorphism and focused along rheological changes in the stratigraphy.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Summary:

Primary Crushing
Run-of-mine material is hauled from the mine and stockpiled or directly tipped into the run-of-mine feed hopper. Material from the hopper is discharged by gravity to a vibrating grizzly screen where oversize is discharged into the primary jaw crusher. This oversize material is crushed, a modular rock breaker is included to manage large rocks that may exceed the crusher cavity size. The primary crusher is designed to reduce material size to an 80% passing product size (P80) of 94 mm. A magnet is installed to remove any foreign metallic bodies from the crushed material prior to feeding it to the secondary screen. The primary crushing circuit has 60% operating availability and the design capacity of 481 t/h.

Major equipment in this area includes the following:
• ROM hopper
• vibrating grizzly feeder
• rock breaker
• primary jaw crusher (110 kW)
• secondary screen feed conveyor.

Secondary and Tertiary Crushing
The primary crusher discharge and vibrating grizzly undersize is transferred to the secondary screen by the crusher discharge conveyor. The conveyor is equipped with a belt magnet as well as a metal detector to remove any remaining metallic foreign bodies from the material. Screen oversize material is gravity fed into the secondary cone crusher. Crusher discharge and secondary screen undersize is conveyed to the tertiary screen.

Both secondary and tertiary crushers are located in the same building for optimal site layout and efficient performance of dust collection system. Tertiary crusher discharge combined with secondary screen undersize material and secondary crusher product istransferred to the tertiary screen by the same conveyor. Oversize from the tertiary screen is conveyed to the tertiary crusher surge bin which ensures the crusher is choke fed. Material that passes through the tertiary screen discharges onto the fine ore transfer conveyor which will deliver material to the stockpile. The material crushed by the tertiary crusher is reduced to an 80% passing product size (P80) of 9 mm at the screen undersize.

Major equipment in this area includes the following:
• secondary screen (2 decks)
• secondary cone crusher (335 kW)
• tertiary screen (2 decks)
• tertiary crusher surge bin
• tertiary cone crusher (480 kW)
• crusher discharge conveyor
• fine material transfer conveyor
• fine material stockpile (12 hour live capacity).

Primary Grinding and Classification
Reclaim belt feeder transfers fine material from the stockpile onto the ball mill feed conveyor which feeds the ball mill. The grinding circuit is designed for an annual operating time of 7,884 h or 90% availability and a nominal throughput of 347 t/h. The circuit is sized based on a grinding circuit feed size (F80) of 9 mm and a circuit product size (P80) of 106 µm. Process water is added to the ball mill feed to maintain the mill discharge slurry density at 70% solids.

The ball mill product slurry will discharge onto a rubber-lined trommel screen, and the oversize is screened out and discharged to a scats bin, whereas the trommel undersize flows by gravity into the cyclone feed pumpbox, where the material is pumped to the cyclone cluster. Promoter and copper sulphate are added to the cyclone feed pumpbox to activate gold-bearing sulphides for downstream flotation. Cyclone overflow at a nominal solids content of 35% w/w reports to the flotation circuit.

To feed the ball mill grinding media, FELs feed balls from a storage bunker to charging kibbles. Each kibble opens into feed bins. Mobile feeders receive the grinding media from the openings at the bottom of the ball feed bins and transfer the balls into the ball mill feed box.

Major equipment in this area includes the following:
• ball mill feed conveyor
• ball mill (6.5 MW)
• primary cyclone cluster.

Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal koz 2053,261
Gold Metal in doré koz 2063,267

Operational metrics

Metrics
Daily ore mining rate 0000
Hourly processing capacity 000
Daily processing capacity 0000
Annual processing rate 0000
Annual processing capacity 000
Stripping / waste ratio 000
Waste tonnes, LOM 000000
Ore tonnes mined, LOM 00000
Total tonnes mined, LOM 000000
Tonnes processed, LOM 000
* According to 2024 study.

Production Costs

CommodityUnitsAverage
Total cash costs Gold USD 0000
All-in sustaining costs (AISC) Gold USD 0000
Assumed price Gold USD 0000
* According to 2024 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 1,242
G&A costs $M USD 340
Total OpEx $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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AV - Autonomous

Personnel

Mine Management

Source Source
Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 5, 2024
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....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2024
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Aerial view:

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