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Canada
Point Rousse Operation (Argyle Mine, Pine Cove Mine, Stog’er Tight Mine)

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 Location:
5 km NE from Baie Verte, Newfoundland and Labrador, Canada

  Address:
232 Highway 410
PO Box 238
Baie Verte
Newfoundland and Labrador, Canada
A0K 1B0
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  • Geology
  • Mining
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  • Reserves
  • Costs & Financials
  • Personnel
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Overview

StatusCare and Maintenance
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start...
The Point Rousse Operation contains three deposits Pine Cove, Stog’er Tight, Argyle and the fully permitted Pine Cove Mill.

As announced on October 25, 2022, the Signal has begun winding down its current operations at Point Rousse and has now completed mining at the Argyle Mine. As on March 2, 2023, the Signal continues to wind down its operations at Point Rousse in a safe and profitable manner and has now completed all crushing and grinding activity and is transitioning to care and maintenance. During care and maintenance, the Signal will take the opportunity to review and optimize the Stog’er Tight mine plan.

The Pine Cove Mine serves as a fully permitted tailings storage facility which provides for potential long-term storage of potentially acid generating rock.


Owners

Source: p. 16
CompanyInterestOwnership
Signal Gold Inc. 100 % Indirect
Signal Gold Inc. (formerly Anaconda Mining Inc.) is 100% owner and operator of the Point Rousse project through its subsidiary Point Rousse Mining Inc.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Orogenic


Summary:

The Point Rousse Complex is host to orogenic-style gold mineralization. Mineralization comprises both vein-hosted and altered-wall rock or replacement styles of mineralization and both exhibit features common to orogenic gold deposits. The mineralization is typically structurally controlled and developed within subsidiary deformation zones, such as the Scrape Trust Fault, to major regional structures, like the Baie Verte – Brompton Line fault. gold mineralization is intimately associated with disseminated and massive pyrite within the host rock indicating that iron rich rocks are an important precursor to mineralization. Alteration within mafic volcanic and gabbroic rocks can be is characterized by albitization and carbonitization. Iron and titanium rich lithologies associated with the Scrape Thrust are typical host rocks. The Point Rousse gold mineralization exhibits relatively narrow, but distinctive alteration haloes dominated by Fe-carbonate, albite, sericite, chlorite and leucoxene (Plate 9). The ore mineralogy is relatively simple and is generally comprised of non-refractory gold either as free gold or as coatings on, or along fractures/grain boundariesin pyrite. Silver and base metals can be present in minor amounts and the deposits typically exhibit only trace arsenic. Pine Cove Mine The geological setting of the Pine Cove Mine area is characterized by greenschist facies mafic volcanic and volcaniclastic rocks, clastic sedimentary rocks and minor iron formation; par ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

As on March 2, 2023, the Signal continues to wind down its operations at Point Rousse in a safe and profitable manner and has now completed all crushing and grinding activity and is transitioning to care and maintenance. ARGYLE MINE The Argyle Mine is an open pit mine consisting of traditional drill and blast operations followed by transport of ore by haul trucks to the crusher run of mine pad and transport of waste to the waste rock piles. On average, between 10,000 and 12,000 tpd of waste and ore is mined. The primary equipment fleet includes seven John Deere 410E trucks (38 tonnes), two shovels and two bulldozers. Approximately 28 people are employed directly and indirectly in the trucking of ore. Production holes are typically drilled on a 3 by 3 m pattern with a bench height of 6 m. Explosives used include Titan XL 1000 bulk emulsion for production blasting and Unimax Dynamite for pre-shear blasting. Nonel EZ DET detonators and Trojan Brand Cast boosters are used. There are generally four blasts per week. Ore is hauled via a single 15 m wide ramp (10% grade) to the ore storage area adjacent to the mill. Oversize material is broken using an excavator-mounted buster. The broken ore is fed into the primary crusher using a dedicated loader. There are several waste rock dumps adjacent to the open pit. The main access ramps are designed at a 10% gradient to accommodate rear wheel drive haulage trucks. The 18 m wide ramps are designed to facilitate two-way truck traffic a ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityUnits2022202120202019201820172016
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required20,14915,56615,818
All production numbers are expressed as metal in doré.
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Operational Metrics:

Metrics202220212020201920182017
Total tonnes mined  ......  Subscription required  ......  Subscription required2,184,547 t1,616,597 t2,629,332 t
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required413,139 t328,291 t432,081 t
Waste  ......  Subscription required  ......  Subscription required  ......  Subscription required1,771,408 t1,288,306 t2,197,251 t
Stripping / waste ratio  ......  Subscription required  ......  Subscription required  ......  Subscription required4.3 3.9 5.1
Tonnes processed  ......  Subscription required  ......  Subscription required  ......  Subscription required391,714 t461,439 t423,204 t
Daily processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required1,300 t1,300 t1,300 t
Daily processing rate  ......  Subscription required  ......  Subscription required  ......  Subscription required1,248 t1,317 t1,223 t
Annual processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required400,000 t400,000 t400,000 t
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Reserves at September 30, 2022:
Mineral Resources are reported at a CoG of 0.59 g/t gold that is based on a gold price of CAD$2,000/oz (approximately US$1,550/oz) and a gold processing recovery factor of 87%.

Mineral Reserves were estimated at a cut-off grade of 0.62 g/t gold.

CategoryTonnage CommodityGradeContained Metal
Probable 726,600 t Gold 1.97 g/t 46,100 oz
Indicated 642,000 t Gold 3.02 g/t 62,300 oz
Inferred 53,000 t Gold 5.63 g/t 9,600 oz

Commodity Production Costs:

CommodityUnits202220212020201920182017
Total cash costs (sold) Gold CAD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 978 / oz†   1,126 / oz†  
All-in sustaining costs (sold) Gold CAD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 1,392 / oz†   1,735 / oz†  
† Net of By-Product.
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Operating Costs:

Units20212020201920182017
Processing costs ($/t milled) CAD 24.221.324.12019.1
Total operating costs ($/t milled) CAD  ......  Subscription required
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Financials:

Units2022202120202019201820172016
Revenue M CAD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 31.7   25.7   24.4  
Operating Income M CAD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 5.9   0.9   3.2  
After-tax Income M CAD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required -1.7   -3.6  
EBITDA M CAD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 12.2   8   7  
Operating Cash Flow M CAD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 8.9   4.8  
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Water Supply
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 27, 2023
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Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2022
Subscription required Subscription required Subscription required 2021
Subscription required Subscription required Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Press Release 2023
Press Release 2023
Management Discussion & Analysis 2022
Technical Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Information Form 2018
Corporate Presentation 2018
Management Discussion & Analysis 2018
Press Release 2018
Annual Information Form 2017
Annual Information Form 2017
Fact Sheet 2017
Financial Review 2017
Management Discussion & Analysis 2017
Management Discussion & Analysis 2017
Technical Report 2017
Annual Information Form 2016
Corporate Presentation 2016
Financial Review 2016
Management Discussion & Analysis 2016
Management Discussion & Analysis 2015
Management Discussion & Analysis 2015
Technical Report 2015
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