Mining Intelligence and News
Papua New Guinea

Simberi Sulphide Project

Click for more information

Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Project Timeline... Lock
Mine Life... Lock
SnapshotThe expansion of the Simbury sulphide project involves processing sulphide minerals contained under existing oxidized deposits, which will significantly increase gold production and extend the mine life.

In November 2024, St Barbara announced the raising of up to A$110 million to accelerate the implementation of this project. It is expected that these measures will allow the start of sulphide ore production five months earlier than planned.

Owners

SourceSource
CompanyInterestOwnership
St Barbara Ltd. 100 % Indirect
Simberi Gold Co, Ltd. (operator) 100 % Direct
The Simberi Gold Project is 100% owned by the Simberi Gold Company Limited, a wholly owned subsidiary of St Barbara Limited.

Deposit type

  • Volcanic hosted

Summary:

Simberi Island represents an eroded, deeply dissected Pliocene strato-volcano. The island developed from multiple episodes of eruptive and effusive mafic to intermediate volcanism. Volcanic flows and intrusives range from basanite, alkali basalt, trachybasalt, trachyandesite, microsyenite, trachyte and feldspar porphyry. In places these units are overlain by a fining-up sequence of coarse grits, sandstone and mudstone. Bioclastic limestone platforms unconformably overlay the volcano-sedimentary sequence. A number of raised Pliocene to Pleistocene bioclastic limestone platforms flank the volcano and provide evidence of ongoing regional uplift.

Gold mineralisation at Simberi is associated with extension and basin formation (caldera collapse) after the cessation of volcanic activity. Mineralised normal faults are seen in all deposits, and an abundance of steep structures, steep fault lineations and normal fault offsets at Simberi are consistent with extensional tectonics.

The deposits comprise oxides and sulphides, reflecting the depth of weathering and degree of erosion. Significant oxides are predominantly present in the areas of highest topography, >150m RL. Oxides may persist to lower elevations on the larger faults, but in general, are absent in the lower ground. At Sorowar and Pigiput, the supergene oxides are well developed in the strongly argillic-altered breccia units, but the overlying agglomerate/tuffaceous sandstone is only weakly weathered. These upper units are only locally affected by the argillic-alteration, indicating deposition at a late stage in the extensional/mineralisation event. Weathering/supergene alteration is best developed in the strongly altered units.

Leapfrog software was used to generate a 0.25 g/t Au grade shell for resource estimation.

The northernmost deposit is Sorowar, its bulk is aligned SE-NW (1,550 m) with minor (structurally controlled) orthogonal splays towards the southwest and northeast. These splays are less than 750 m long and 300 m wide.

Pigibo is oriented W-E for approximately 740 m with a central bulge about 300 m wide and tapering to about 100 m at the western and eastern extremities. It is located about 1,500 m to the southwest of the central part of Sorowar.

Pigiput is east of Pigibo and about 1000 m south of Sorowar. It is roughly equidimensional (640 m diameter) in plan.

Monun Creek is between Pigiput and Sorowar however, there is now enough drilling to define continuous mineralisation between Pigiput and Sorowar.

Botlu is about 800 m south of Pigibo. It strikes SE-NW for approximately 680 m with an average width of around 250 m. About 700 m to the SE of Botlu is the discontinuous Pigicow deposit which strikes SW-NE for nearly 600 m with a variable width (200-450 m).

Samat is located about 700 m to the southeast of Pigicow and is aligned north-south for approximately 720 m with an average width of 300 m. Like Pigicow, Bekou is discontinuous and oriented towards the east-northeast with a strike length of around 600 m. Located about 650 m to the southwest of Samat, its width varies from 40 m to 170 m.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Production

CommodityProductUnitsAvg. AnnualLOM
Gold Concentrate kt 1,500
Gold Metal in concentrate koz 160

Operational metrics

Metrics
Annual processing capacity  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
* According to 2021 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2021 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $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

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 20, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 20, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 20, 2024

Aerial view:

Lock

- subscription is required.