Perama Hill Project

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Mine TypeOpen Pit
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotPerama Hill is development project. If developed, the project will operate as a small open pit mine that uses a conventional carbon in leach circuit for gold recovery. Project optimization and studies are ongoing to prepare permitting documentation.


Eldorado Gold Corp. 100 % Indirect
Thracean Gold Mining SA is the 100% owner of the Perama Hill project. Eldorado owns a 100% interest in Thracean Gold.

Deposit type

  • Breccia pipe / Stockwork
  • Epithermal
  • Stratabound
  • Sediment-hosted


The Perama Hill gold deposit is a stratabound, sediment hosted deposit of Eocene to Oligocene age, located at the eastern edge of the Maronia Graben at the contact point with a north northeast trending eastern graben fault. The Perama Hill deposit is described as an initial high sulphidation epithermal system overprinted by typical low sulphidation banded quartz chalcedony, barite, pyrite stockwork veins, and veinlets. Two key controlling factors on the mineralization are the porosity and rock competency contrasts between the volcanic sandstone and underlying andesite package.

The deposit extends 750 m in a north-south direction and up to 300 m in an east-west direction and the thickness varies from 15 m to 20 m at the flanks and up to 125 m at the centre. The gold mineralization has been fed into the system by structurally controlled feeders inside andesitic volcanic breccia and disseminated into overlying porous sandstone units. The central part of the deposit is mushroom-shaped. Eighty percent of the gold is hosted by sandstones and the rest is associated with andesitic volcanic breccia and conglomerates.

Mineralogical studies from the Perama Hill gold deposit indicate that gold mineralization is very uniform throughout the deposit and the gold grain size is small, generally less than 2 µm.

Gold mineralization occurred during the latest stage of silicification and gold bearing siliceous fluids were introduced after structural preparation by hydraulic fracturing and veining of the same hardened silicified rock. Gold is identified in the sulphide mineralization in association with very fine pyrite containing sub-micronic gold and gold silver telluride. Enargite and stannite group minerals (Cu, As, Sb sulphides) were also introduced in this event. Galena and sphalerite are also present in the sulphide ore but do not appear to correlate with gold.

The gold occurs as micron size particles in association with quartz, clay and hematite.

Mineralization in the sandstones accounts for more than 80% of the oxide deposit. Hydrothermal fluids, which travelled upwards through structurally controlled conduits in the andesite breccia were able to disseminate and travel laterally through a finely developed network of fracture systems developed in the porous sandstones.

Mineralization in the volcanic breccia unit is confined to the sulphide facies in the central part and the oxidized uplifted panel in the northern part of Perama Hill. Due to less supergene leaching in these less porous, quartz-free and strongly clay altered rocks, metals like Cu and Pb can be identified in outcrop in association with clay and strongly developed limonite minerals. Heterogeneity of the rock, allowing fluid circulation at the contact between clasts and matrix under hydraulic pressure, was a favourable factor.



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CommodityUnitsAvg. Annual
Silver oz 187,000
All production numbers are expressed as metal in doré.

Operational metrics

Annual ore mining rate  ....  Subscribe
* According to 2021 study.

Production Costs

All-in sustaining costs (AISC) Gold USD 480 / oz * **  USD
C1 cash costs Gold USD 430 / oz * **  USD
C2 total cash costs Gold USD 465 / oz * **  USD
Assumed price Silver USD 18 / oz *  USD
Assumed price Gold USD 1,300 / oz *  USD
* According to 2016 study / presentation.
** Net of By-Product.

Operating Costs

OP mining costs ($/t mined) USD 4 *  
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2016 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax IRR, % $M USD  ......  Subscribe

Heavy Mobile Equipment


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Mine Management

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 29, 2024
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Apr 29, 2024

Total WorkforceYear
...... Subscription required 2021


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