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Canada
Goldboro Project (Goldboro Expansion Project)

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 Location:
54 km SE from Antigonish, Nova Scotia, Canada

  Project Contacts:
20 Adelaide St. East Suite 915
Toronto
Ontario, Canada
M5C 2T6
Phone  ...  Subscription required
Fax(416) 363-4567
EmailEmail
WebsiteWeb
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life10.9 years (as of Jan 1, 2021)
The Signal Gold primary focus is on the development of the Goldboro Project in Nova Scotia. On August 2, 2022, the Nova Scotia Minister of Environment and Climate Change approved the Goldboro Project.

On November 28, 2022, the Signal Gold completed the acquisition of a 100% interest in six exploration licenses adjacent to the Goldboro Mineral Resource. This represents a significant milestone in the development of the Goldboro Project as these exploration licenses cover the surface area which will be required for much of the Goldboro Project's key infrastructure.


Owners

Source: p. 5,17
CompanyInterestOwnership
Signal Gold Inc. 100 % Indirect
The Goldboro Project is 100% - owned by Signal Gold Inc.

The Goldboro Project is registered to the Signal Gold subsidiary Goldboro Gold Mines Inc. (previously Orex Exploration Inc.).

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Orogenic
  • Metamorphic
  • Vein / narrow vein


Summary:

The Deposit is a turbidite-hosted orogenic gold deposit hosted within a sequence of alternating argillites and greywacke metamorphosed to greenschist facies. These deposit types are typically characterized by the formation of gold bearing quartz veins within the argillite units, commonly referred to as mineralized Belts, that are interbedded with greywacke units. There are currently 68 stacked mineralized Belts ranging in thickness from 1 m to 20 m in the Deposit. The metasedimentary units on the Property are folded into the tight, gently east-plunging Upper Seal Harbour Anticline and gold mineralization has typically been deposited at various positions and times during the fold formation process. Veins, which form during deformation, occur in three major geometries commonly referred to as reefs: saddle reefs, leg reefs, and spur reefs. Saddle reefs occur about the apex of the fold and are the dominant vein types within some deposits. Leg reefs extend down the limbs of the fold, beyond the saddle reef, and are generally parallel with the metasedimentary layers. These are also commonly termed BP veins in the Nova Scotia goldfields. Spur reefs are veins that cross between layers and may be in the apex of the fold or on its limbs. This style of vein is in part captured under the term “angular” in the Nova Scotia goldfields.

The Deposit contains all three types of reefs outlined above but is also characterized by mineralization within the argillite forming the Belts. B ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The operation scenario studied for the FS involves:
• Open Pit mining at an average mining rate of 12.8 Mt per year.
• Gold process facility with a 1.46 Mtpa (4,000 t/d) capacity.
• Approximate 6-month ramp up period in Year 1 (YR1) for process facility.
• 1-year pre-production mining period to coincide with Tailings Management Facility Initial Stage development.

The FS is based on a conventional truck-shovel open pit mining operation within two pits. The open pit production period is approximately 10.9 years with 1 year of pre-production (prior to process plant start-up).

Waste Rock Disposal Design
Waste rock generated from the open pit will require the development of waste rock storage areas. The waste generated from the open pit includes waste rock, till, historical tailings, and topsoil and organics.

The proposed mine plan will generate approximately 126.8 million tonnes of waste material, which includes overburden. Assuming a swell factor of 30%, a volume of 61.7 million m3 of waste storage is required.

Open Pit Mining Operation
A mining contractor would be responsible, with the guidance of the Company technical staff, to provide suitable equipment and operational procedures to meet the target production. The mining equipment will depend on the available equipment of the selected mining contractor.

Drilling is expected to be performed on eight-metre benches. For ore-control may be excava ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 1001,100
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily processing capacity  ......  Subscription required
Annual mining rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at December 15, 2021:
Open Pit Mineral Resources are reported at a cut-off grade of 0.45 g/t gold. Underground Mineral Resource is reported at a cut-off grade of 2.60 g/t gold. Combined Open Pit and Underground Mineral Resources: the Open Pit Mineral Resource is based on a 0.45 g/t gold cutoff grade, and the Underground Mineral Resource is based on 2.40 g/t gold cut-off grade.

The Mineral Reserve a cut-off grade of 0.45 g/t gold.

CategoryOreTypeTonnage CommodityGradeContained Metal
Probable In-Situ (OP) 15,798,900 t Gold 2.26 g/t 1,150,200 oz
Measured & Indicated In-Situ (OP) 15,668,000 t Gold 2.82 g/t 1,422,000 oz
Measured & Indicated In-Situ (UG) 5,926,000 t Gold 6.09 g/t 1,159,000 oz
Measured & Indicated Total 21,593,000 t Gold 3.72 g/t 2,581,000 oz
Inferred In-Situ (OP) 975,000 t Gold 2.11 g/t 66,000 oz
Inferred In-Situ (UG) 2,206,000 t Gold 5.89 g/t 418,000 oz
Inferred Total 3,181,000 t Gold 4.73 g/t 484,000 oz

Commodity Production Costs:

CommodityUnitsAverage
Total cash costs (sold) Gold USD  ......  Subscription required
All-in sustaining costs (sold) Gold USD  ......  Subscription required
Assumed price Gold USD  ......  Subscription required
* According to 2021 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) CAD 4.99 *  
OP mining costs ($/t milled) CAD  ......  Subscription required
Crushing costs ($/t milled) CAD  ......  Subscription required
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 212.5
Refining and transportation $M CAD  ......  Subscription required
G&A costs $M CAD 137.5
Total OpEx $M CAD  ......  Subscription required
Mining Taxes $M CAD  ......  Subscription required
Income Taxes $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Water Supply
Source: Subscription required

- subscription is required.


Proposed Heavy Mobile Equipment as of December 16, 2021:
HME TypeSizeQuantityLeased or
Contractor
Crane ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 16, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 16, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 16, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Apr 11, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 11, 2023
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Corporate Presentation 2022
Management Discussion & Analysis 2022
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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