KALGOORLIE (miningweekly.com) – A scoping study into the Sturec gold mine, in Slovakia, has concluded that it could produce over one-million ounces of gold over a mine life of 15 years.
ASX-listed MetalsTech on Wednesday reported that Sturec’s life-of-mine operating costs have been estimated at $754/oz, delivering robust operating margins based ona gold price of $2 014/oz.
Based on the current spot gold price, the mine is expected to deliver an operating margin of $1 026/oz and a net present value of $360-million. Total capital costs for the project have been estimated at $82.8-million.
MetalsTech executive director Gino D’Anna told shareholders that the completion of the scoping study marked a significant milestone achievement for the company and brought with it the rebirth of one of Slovakia’s historic mining operations.
“The scoping study has confirmed the mining method, technical aspects and the economic viability of a 1.5-million tonne a year mining and processing operation. The design basis has been responsive to previous concerns, focusing on generating a high-value gold concentrate without the use of cyanide, while also minimising environmental footprint and minimising surface disturbance.”
D’Anna said that the scoping study was based on a mineral resource of 38.5-million tonnes at 1.23 g/t gold and 8.8 g/t silver, containing 1.5-million ounces of gold and 10.93-million ounces of silver. He noted that 82% of the mining inventory used in the scoping study was based on measured and indicated resources, with only 18% in the inferred category.
Drilling activities at Sturec were continuing, and a resource upgrade is expected as the company advances towards a prefeasibility study.
