Overview
Stage | Permitting |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 8 years (as of Jan 1, 2022) |
Perama 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. |
Source:
p. 141
Thracean Gold Mining SA is the 100% owner of the Perama Hill project. Eldorado owns a 100% interest in Thracean Gold.
Contractors
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Deposit Type
- Breccia pipe / Stockwork
- Epithermal
- Stratabound
- Sediment-hosted
Summary:
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 b ........

Summary:
Conventional open pit mining would be used at Perama Hill. The pit would operate one eight-hour shift, five days per week. The crushing circuit would operate 16 hours per day, seven days per week. The mining and crushing operating hours were reduced in consideration of their proximity to the local village. The processing plant would operate 24 hours per day.
The mine would use seven 33 tonne trucks and two matching backhoes. A front-end loader would be used for the ore stockpile at the crusher. The process plant would primarily use water from recycled sources, a local borehole as well as surface runoff where possible will supplement process water requirements. The TMF would have a structural fill embankment and filtered tailings near the process plant. The TMF would be a double lined system with impermeable GCL and HDPE membranes.
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Source:
Summary:

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Projected Production:
Commodity | Units | Avg. Annual |
Gold
|
oz
| 112,000 |
Silver
|
oz
| ......  |
All production numbers are expressed as metal in doré.
Operational Metrics:
Metrics | |
Annual ore mining rate
| ......  |
* According to 2021 study.
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Reserves at September 30, 2021:
As of September 30, 2022, there were no changes in the reported Mineral Resources and Reserves at Perama Hill compared to September 30, 2021.
Mineral resource cut-off grade is 0.5 g/t Au.
Mineral reserve cut-off grade is 0.73 g/t Au.
Category | Tonnage | Commodity | Grade | Contained Metal |
Proven
|
3,088 kt
|
Gold
|
4.03 g/t
|
400 koz
|
Proven
|
3,088 kt
|
Silver
|
4 g/t
|
403 koz
|
Probable
|
9,410 kt
|
Gold
|
2.81 g/t
|
850 koz
|
Probable
|
9,410 kt
|
Silver
|
8 g/t
|
2,277 koz
|
Proven & Probable
|
12,498 kt
|
Gold
|
3.11 g/t
|
1,250 koz
|
Proven & Probable
|
12,498 kt
|
Silver
|
7 g/t
|
2,680 koz
|
Measured
|
3,093 kt
|
Gold
|
4.15 g/t
|
412 koz
|
Measured
|
3,093 kt
|
Silver
|
4 g/t
|
415 koz
|
Indicated
|
10,973 kt
|
Gold
|
2.73 g/t
|
962 koz
|
Indicated
|
10,973 kt
|
Silver
|
7 g/t
|
2,579 koz
|
Measured & Indicated
|
14,066 kt
|
Gold
|
3.04 g/t
|
1,374 koz
|
Measured & Indicated
|
14,066 kt
|
Silver
|
7 g/t
|
2,994 koz
|
Inferred
|
1,136 kt
|
Gold
|
1.63 g/t
|
59 koz
|
Inferred
|
1,136 kt
|
Silver
|
2 g/t
|
83 koz
|
Commodity Production Costs:
| Commodity | Units | Average |
All-in sustaining costs (AISC)
|
Gold
|
USD
|
480 / oz *†
|
C1 cash costs
|
Gold
|
USD
|
430 / oz *†
|
C2 total cash costs
|
Gold
|
USD
|
465 / oz *†
|
Assumed price
|
Silver
|
USD
|
18 / oz *
|
Assumed price
|
Gold
|
USD
|
1,300 / oz *
|
* According to 2016 study / presentation.
† Net of By-Product.
Operating Costs:
| Units | 2016 |
OP mining costs ($/t mined)
|
USD
| 4 * |
OP mining costs ($/t milled)
|
USD
| ......  |
Processing costs ($/t milled)
|
USD
| ......  |
Total operating costs ($/t milled)
|
USD
| ......  |
* According to 2016 study.
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2016 Study Costs and Valuation Metrics :
Metrics | Units | LOM Total |
Initial CapEx
|
$M USD
|
......
|
Sustaining CapEx
|
$M USD
|
......
|
After-tax Cash Flow (LOM)
|
$M USD
|
......
|
After-tax NPV @ 5%
|
$M USD
|
......
|
After-tax IRR, %
|
$M USD
|
......
|
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Source:

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Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
May 7, 2023
|
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Corporate Filings & Presentations:
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