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Liberia
New Liberty Mine (New Liberty Expansion Project)

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 Location:
87 km NW from Monrovia, Liberia

  Regional Office:
1st Floor Suites 101 & 105 Rose Garden Plaza Crown Hill, Broad Street
Monrovia
Liberia
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start...
Avesoro Holdings Ltd., a private equity firm, acquired the mine in December 2018. Mine operations data has not been publicly available since then.


Owners

Source: p. 4
CompanyInterestOwnership
Government of Liberia 10 % Direct
Avesoro Holdings Ltd 90 % Indirect
Bea Mountain Mining Corp. 90 % Direct
Avesoro Resources Inc. holds its interests in the New Liberty Gold Mine through its subsidiary Bea Mountain Mining Corporation (“Bea”). On July 29, 2009 Bea was granted a Class A Mining Licence (“Bea Mining Licence”) within the Bea Mountain Mineral Development Agreement property (the “Bea MDA Property”) by the Government of Liberia (“GoL”). The Bea Mining Licence permits mining within the 478 km2 area which encompasses the New Liberty Gold Mine. The GoL holds a 10% free carry interest in the Bea Mining Licence.

Avesoro Resources was delisted at TSX in January 2020.

Contractors

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Deposit Type

  • Orogenic


Summary:

The vast majority of the mineralisation at the Project is hosted within the altered parts of the sheared ultramafic rocks. Pyrrhotite and arsenopyrite are the main sulphides with occasional pyrite and rare chalcopyrite or pentlandite. The areas with the highest gold grades are associated with arsenopyrite. Metallurgical tests of the mineralised sections carried out by Lakefield Research Limited (Lakefield, 1999b) indicated that the gold is free in form. Gold mineralisation occurs in zones of variable thickness, with average widths of 10 m, and is nearly continuous along 2 km of strike.

Gold at the Project is linked with an assemblage of sulphides and oxides in ultramafics and granite. Opaque minerals include trace to minor quantities of pyrrhotite, arsenopyrite, chalcopyrite, pentlandite, galena, sphalerite, magnetite, ilmenite and rutile. Sulphide growth may be in the form of vein fills, massive aggregates, clusters, blebs, stringers and fine or coarse disseminations in ultramafics or granite veins. There appears to be a progression from syntectonic to late-tectonic growth, with at least two phases of sulphide and oxide growth. The non-opaque minerals are amphibole, chlorite, mica, serpentine, talc and quartz. Pyrrhotite, arsenopyrite, coarse grained pyrite, chalcopyrite, sphalerite and minor pentlandite are the principal sulphides; the chief observation being (but not always) an increase in grain size and abundance, both absolute and relative, in host rocks near ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining operations are based on conventional drill-and-blast, load and haul mining techniques. Loading of the ore and waste rock following drill-and-blast will be undertaken by hydraulic excavators in backhoe configuration into nominal 100 tonne Komatsu HD 785 haul trucks with 50% of the ore reporting directly to the crusher tip and 50% to the ROM ore pad, and waste to the designated waste dump areas. It is has been assumed that the weathered portion of the ore and waste is free dig or requires some local ripping and as it transitions to fresh rock, blasting will be required.

All waste material will report either to the surface waste dumps which wrap around the open pit or be backfilled in the mined-out pit areas of the Larjor pit, depending on which facility is closest and available at the time of mining, and to suit the efficient scheduling of the mining fleet. Before any waste is backfilled into Larjor, an underground mining study will be undertaken to assess the potential of mining the deeper, down plunge high-grade ore shoots. In the early stages of the Pre-Strip and mining phases, waste rock will be used to construct a protective drainage berm, which wraps around the open pit between the waste rock dumps.


Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityUnits201820172016
Gold oz 109,70776,17963,556
All production numbers are expressed as metal in doré.
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Operational Metrics:

Metrics201820172016
Total tonnes mined 23,149 kt14,102 kt9,961 kt
Ore tonnes mined 1,352 kt1,166 kt996 kt
Waste 21,797 kt12,935 kt8,965 kt
Stripping / waste ratio 16.1 11.1 9
Tonnes processed 1,411 kt1,144 kt842 kt
Plant annual capacity 1.1 Mt

Reserves at December 31, 2018:
Reporting cut-off for New Liberty is 0.80 g/t Au for Open Pit.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven In-Situ (OP) 0.216 Mt Gold 1.65 g/t 11 koz
Probable Stockpiles 0.21 Mt Gold 1.47 g/t 10 koz
Probable In-Situ (OP) 4.701 Mt Gold 3.19 g/t 482 koz
Proven & Probable Stockpiles 0.21 Mt Gold 1.47 g/t 10 koz
Proven & Probable In-Situ (OP) 4.917 Mt Gold 3.12 g/t 494 koz
Measured In-Situ (OP) 0.19 Mt Gold 1.82 g/t 10.9 koz
Indicated In-Situ (OP) 4.48 Mt Gold 3.49 g/t 503 koz
Measured & Indicated In-Situ (OP) 4.67 Mt Gold 3.42 g/t 513.9 koz
Inferred In-Situ (OP) 0.03 Mt Gold 1.7 g/t 2 koz

Commodity Production Costs:

CommodityUnits201820172016
Cash costs (sold) Gold USD 862 / oz   918 / oz   1,688 / oz  
All-in sustaining costs (sold) Gold USD 1,120 / oz   1,427 / oz   1,930 / oz  

Operating Costs:

Units2017
OP mining costs ($/t mined) USD 2.68

Financials:

Units201820172016
Revenue M USD 140.3   95.2   63.6  
After-tax Income M USD -40.3   -20.8   -103  



Heavy Mobile Equipment as of November 1, 2017:
HME TypeModelSizeQuantityLeased or
Contractor
Backhoe ....................... Subscription required 3 cu. m ....................... Subscription required
Dozer ....................... Subscription required ....................... Subscription required
Dozer (crawler) ....................... Subscription required ....................... Subscription required
Dozer (crawler) ....................... Subscription required ....................... Subscription required
Drill ....................... Subscription required ....................... Subscription required
Drill ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required 12 cu. m ....................... Subscription required
Excavator ....................... Subscription required 6.5 cu. m ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Rockbreaker ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required 90 t ....................... Subscription required
Truck (haul) ....................... Subscription required 90 t ....................... Subscription required Leased
Truck (haul) ....................... Subscription required 40 t ....................... Subscription required
Truck (water) ....................... Subscription required ....................... Subscription required
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 21, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 20, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 21, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 20, 2022
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
................................... Subscription required 2019
Financial Review 2018
Management Discussion & Analysis 2018
Other 2018
Press Release 2018
Press Release 2018
Corporate Presentation 2017
Corporate Presentation 2017
Corporate Presentation 2017
Financial Review 2017
Management Discussion & Analysis 2017
Technical Report 2017
Management Discussion & Analysis 2016
Technical Report 2015
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