Greece

Olympias Mine

Click for more information

Categories

Overview

Mine TypeUnderground
StatusActive
Commodities
  • Gold
  • Silver
  • Lead
  • Zinc
Mining Method
  • Drift & Fill
Backfill type ... Lock
Production Start... Lock
Mine Life... Lock
SnapshotThe Olympias mine produces lead / silver concentrate, zinc concentrate, and gold / pyrite / arsenopyrite concentrate. Concentrates are shipped via the Thessaloniki port and the Stratoni port.

Eldorado plans to expand production at Olympias to 650 kilotonnes per annum (ktpa) of ore, from a 2023 throughput of 454 ktpa. The 650 ktpa throughput is planned to commence in 2026.

Expansion and upgrades will take place to the underground mine, Olympias process plant and Stratoni port.

Owners

SourceSource
CompanyInterestOwnership
Eldorado Gold Corp. 100 % Indirect
Hellas Gold SA (operator) 100 % Direct
Olimpias mine is owned by Hellas Gold which is a wholly owned subsidiary of Eldorado Gold Corp.

Contractors

Lock

- subscription is required.

Deposit type

  • Carbonate replacement

Summary:

Olympias is an example of a polymetallic carbonate-replacement deposit. However, it is somewhat unusual due to its high gold content.

The Olympias deposit is located six km north of the Stratoni fault within the Kerdilion unit. Replacement-style sulphide orebodies are hosted by marble interlayered within a sequence of quartzo-feldspathic biotite-gneiss, amphibolite, and plagioclase microcline orthogneiss (Kalogeropoulos et al. 1989; Siron et al. 2016). The massive sulfide orebodies plunge shallowly to the southeast for over 1.8 km , subparallel to the orientation of F2 fold hinges and a locally developed L2 intersection lineation (Siron et al. 2018). The locations of the sulfide lenses, however, are largely controlled by strands of the ductile-brittle Kassandra fault and East fault and sub-horizontal shear zones that occur between the two faults.

The sulfide ore bodies are grouped into three major domains: East Zone, West Zone, and Flats Zone. Two smaller sub-zones, the Remnants and North Zones, are considered as part of the West Zone for the purpose of resource estimation. The East Zone ore occurs dominantly in the footwall to the steeply northeast-dipping East fault with the sulphide lenses hosted by marble at or below the upper gneiss-marble contact. The stratabound ore lenses dip shallowly to moderately to the northeast and strike for ~1.1 km. Ore lenses typically pinch and swell with thickness up to 10 m and widths up to 130 m. The West Zone ore bodies are controlled by the Kassandra fault and have a steep (~ 60°) NE dip that shallows at depth as it merges into the Flats. The West Zone ore has a strike extent of ~1.2 km and is up to 25 m thick with a down-dip extent up to 200 m. The Flats ore body extends to the east from the West Zone ore and dips shallowly to the northeast; however, in detail it comprises a series of stacked lenses that also extend to the west into the footwall of the Kassandra fault. The Flats ore bodies have a strike extent of over 1 km and are locally up to 15 m thick, although more commonly range from 3 to 10 m thick, and ore lenses are tens of meters wide to up to 100 m in places.

Sulphides associated with the Olympias deposit include coarse-grained, massive, and banded lenses dominated by variable amounts of sphalerite, galena, pyrite, arsenopyrite, chalcopyrite, and boulangerite. Accessory minerals include pyrrhotite, marcasite, stibnite, mackinawite, enargite, freibergite, bournonite, geocronite, cubanite, bornite and covellite (Nicolaou and Kokonis 1980; Kalogeropoulos and Economou 1987; Kalogeropoulos et al. 1989; Siron et al. 2016). Secondary ion mass spectroscopy studies indicate that Ag and Au primarily occur in solid solution with their respective host minerals; Ag in galena and Au in both arsenopyrite and pyrite.

OLYMPIAS MINERALIZATION TYPES
Mine nomenclature classifies the mineralization into eight types. Types 1 to 3 are base metal-pyrite dominant, Types 6 and 7 are arsenopyrite-rich and variably silica bearing, Type 8 is manganeserich and Types 4 and 5 are sub-economic pyritic wall rock alteration with minor to semi-massive sulphides.

Types 1, 2, and 3 are gradational with one another and reflect endmembers of galena-sphalerite dominant (Type 1) to pyrite dominant (Type 2) to transitional mixed galena-sphalerite-pyrite (Type 3). Arsenopyrite is common in all three types but is not the dominant sulphide. These mineralization types typically occur as massive to banded sulphide zones with medium to coarse grained sphalerite-galena-pyrite-arsenopyrite and calcite gangue. Types 1 to 3 are dominant in the Flats.

Type 7 is arsenopyrite-rich and has the highest gold content. The mineralization is typically siliceous with massive to banded sulphide dominated by blocky to acicular arsenopyrite with lesser pyrite, galena, and sphalerite. Type 7 is locally gradational to Type 3, and banded zones commonly comprise intergrown Types 1 to 3 and 7. Type 7 is dominant in the East Zone.

Type 6 is a paragenetically younger quartz-rich sulfide assemblage that locally overprints the early replacement massive sulphide ore horizons. Type 6 can vary from banded siliceous zones to extensive intervals of grey siliceous matrix breccia that contain angular altered wall rock fragments. These quartz-rich sulphide bodies consist of interlocking, euhedral and growth-zoned quartz accompanied by interstitial arsenopyrite and boulangerite with subordinate pyrite, galena, and sphalerite. The breccia cement consists of dark gray chalcedonic quartz with disseminated, euhedral pyrite, fibrous boulangerite and bladed arsenopyrite. In places, Type 6 grades into Type 7, and commonly these quartz-rich ore types are surrounded by lower grade quartz-rhodochrosite alteration of the marble (Type 8). Types 6 and 8 are most commonly developed in the northern and eastern portions of the Olympias deposit, and in and around the Kassandra fault.

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

CommodityUnits2024202320222021202020192018201720162015
Gold koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe3747182.816
Silver koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe622563352
Lead t  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe6,0845,5453,327
Zinc t  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe7,7847,8104,504
All production numbers are expressed as payable metal. ^ Guidance / Forecast.

Operational metrics

Metrics2024202320222021202020192018201720162015
Ore tonnes mined  ....  Subscribe
Total tonnes mined  ....  Subscribe
Daily milling rate  ....  Subscribe  ....  Subscribe
Hourly processing rate  ....  Subscribe  ....  Subscribe
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe317,577 t322,659 t141,236 t87,350 t589,675 t
Annual ore mining rate  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe360 kt
Annual processing capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe430 kt
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
^ Guidance / Forecast.

Production Costs

CommodityUnits2024202320222021202020192018
Cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,286 / oz **   764 / oz **  
Total cash costs (sold) Gold USD  ....  Subscribe
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,837 / oz **   1,297 / oz **  
^ Guidance / Forecast.
** Net of By-Product.

Operating Costs

Currency2020201920182017
UG mining costs ($/t milled) USD 98.6  114.61  94.1  63.1  
Processing costs ($/t milled) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Financials

Units2024202320222021202020192018
Capital expenditures (planned) M USD  ....  Subscribe
Growth Capital M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 6.1  
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 20.1   12.2  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 92.6   68.6  
Earnings M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe -41   -15.3  

Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 30, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 25, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 30, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 25, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 30, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 30, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 30, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 30, 2024
....................... Subscription required ....................... Subscription required Subscription required May 27, 2024

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2022
...... Subscription required ...... Subscription required ...... Subscription required 2021
...... Subscription required ...... Subscription required ...... Subscription required 2020
...... Subscription required ...... Subscription required ...... Subscription required 2019
...... Subscription required ...... Subscription required ...... Subscription required 2018
...... Subscription required ...... Subscription required ...... Subscription required 2017
...... Subscription required ...... Subscription required ...... Subscription required 2016

Aerial view:

Lock

- subscription is required.