VANCOUVER — Atlantic Gold (TSXV: AGB) is on the fast track to maiden production at its Moose River Consolidated (MRC) gold project in Nova Scotia. It’s district scale vision, however, extends far beyond the mine life outlined in a mid-2015 feasibility study (FS).
The company is putting the finishing touches on a US$156-million, open pit operation, located 85 km due northeast of Halifax that should see it pour first gold by early next year. The mine is scheduled to produce 87,000 oz. gold per annum over an 8.5 year mine life, at all-in sustaining costs of US$531 per oz.
The company’s 5,500-t/d mill facility will boast 94% gold recoveries. The FS outlines a conventional flowsheet consisting of three-stage crushing and ball milling, with cyclones being used to close the grinding circuit. Tailings from leaching would be treated for cyanide destruction using sulfur dioxide and air with a copper catalyst.
The start-up development hinges on proven and probable reserves totaling 16.5 million tonnes at 1.44 g/t gold for 760,000 contained oz. The company’s inaugural mill feed will come from the central Touquoy deposit, as well as the satellite Beaver Dam project, around 37 km to the northeast. All resource and reserve estimates assume a 0.4 gram gold cut-off grade.
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