Eldorado Gold Corp. Provides an Update on its Deva Gold SA Certej Project in Romania
Apr 8 14
Eldorado Gold Corp. has provided an update on its Deva Gold SA Certej project in Romania. The TR incorporates certain changes to the Project that have evolved since Eldorado acquired the Project from European Goldfields Ltd. in 2012, in particular significant changes to the mineral resources and proposed metallurgical process. These changes, along with other relevant project design parameters are: Mineral Resources and Reserves - The mineral resource block model, which serves as the basis of the Mineral Resources and Mineral Reserves in the PFS, is based on an additional 55,700 meters of diamond drilling completed by Deva Gold during 2012 and 2013. This drilling discovered a new zone at depth (the Link Zone) as well as extending mineralization along strike, and contributed to a greatly enhanced understanding of the geologic controls on mineralization. Mineral Reserves for the Project were calculated using a gold price of $1,250 per ounce and a silver price of $16.50 per ounce. The economic pit limits were calculated using the Lerchs-Grossman algorithm. The most financially beneficial shell from a series of 40 optimized pit shells that were generated formed the basis for the reserve pit, which was created and scheduled using all relevant design criteria. The final pit design incorporates the ramp grade, ramp width, bench heights, bench face angles, bench stack heights, berm width, geotechnical berm width and inter-ramp angle. The operating plan has an elevated mill feed cut-off grade during the mining phase followed by treating stockpiled lower grade ore later in the mine life. During the mining phase, a mill feed cut-off of 1.20 g/t Au_Equiv will be used with proven and probable ore between 0.90 and 1.20 g/t Au_Equiv being stockpiled for treatment later in the minelife. Through direct feed from mining and by stockpile reclaiming, a constant mill feed of 3.0 million tonnes per annum will be maintained for nearly 15.7 years of which 11 years of mill feed is obtained from open pit production and the last 4.7 years of mill feed is from stockpiled low-grade ore. The low-grade ore (between 0.90 and 1.20 g/t Au_Equiv) will be placed in either of two dedicated low-grade stockpiles. The low-grade stockpiles will reach a maximum capacity of approximately 15 Mt at the time at which the open pit production ceases. The reserve pit also has approximately 113.4 Mt of waste and an overall stripping ratio of 2.41:1 (waste tonnes to ore tonnes). Waste rock from the open pit mining will be used in pre-production construction fill and embankments for the tailings management facility. All surplus waste rock will be placed into two waste dumps north of the open pit. All mining at Certej is planned to be performed by owner equipment and personnel using conventional open pit mining methods with drill and blast of the rock followed by load and haul with diesel powered off road shovel and truck equipment. Eldorado has evaluated several options for dealing with the refractory nature of the ore at Certej, including the previously proposed Albion process. The Certej ores will be treated at a rate of 3.0 Mt per annum and comminuted by crushing, followed by a combination of SAG and ball milling. The ground ore will be subjected to simple rougher-scavenger and single cleaner flotation to separate the gold-bearing sulphide fraction (pyritic) of the ore from the host andesite (silicate). Following regrind, flotation concentrate is then subjected to pressure oxidation. The oxidized solids will be treated with limestone and lime at elevated temperatures to facilitate silver recovery, prior to conventional precious metal recovery by carbon-in-leach cyanidation ("CIL"), carbon stripping and electrowinning. CIL tails will be subjected to further oxidative and neutralization treatment to ensure that residual cyanide is destroyed before the tails are impounded. The Project will produce 135,000oz Au and 800,000oz Ag per annum, as a gold-silver dore, assaying roughly 15% Au and 85% Ag. Overall recovery of the precious metal values from the Certej ore via the pressure oxidation process will be 87.4% and 80% for gold and silver, respectively. The Capital Cost Estimate included Initial, Sustaining and Closure costs. Capital cost estimates were developed to a high level of accuracy with mobile and plant equipment budget quotations obtained, labour cost built up from first principles of salaries, burdens and overhead and unit rates verified by Romanian contractor quotations. Contingency was applied to each item based on the source and accuracy of the estimate data resulting in an overall Initial and Sustaining Contingency of 17% and 24% respectively.
Eldorado Gold Corp. Proposes Amendments to By-Laws and Restated Articles of Incorporation
Mar 31 14
Eldorado Gold Corp. proposed amendments to by-laws and restated articles of incorporation at AGM will be held on May 1, 2014.
Eldorado Gold Corp. Presents at Mines and Money Hong Kong 2014, Mar-26-2014 01:00 PM
Mar 14 14
Eldorado Gold Corp. Presents at Mines and Money Hong Kong 2014, Mar-26-2014 01:00 PM. Venue: Hong Kong Convention and Exhibition Centre, Hong Kong.