Canadian Mining Journal

News

GOLD: Atlantic Gold forges ahead with MRC development



NOVA SCOTIA – Atlantic Gold Corp. of Vancouver has completed site preparation for the start of construction at the Moose River Consolidated (MRC) gold project near Halifax. The project includes both the Touquoy and Beaver Dam deposits and a mill at Touquoy.

The majority of the mining fleet has been delivered including Cat 775 trucks, dozers, wheel dozers and excavators. All are now operational. Groundwater monitoring equipment is in place, and that allows for the establishment of a borrow pit to provide crushed rock for construction. The first blast took place on July 29, 2016.

At the plant site, the first concrete has been poured for the ball mill and leach tank foundations. Access roads, but not their crossings, are 85% complete.

Clearing the area around the tailings management facility is done. The grouting trenches are complete, and a length of about 500 metres has been pressure washed and is ready for grouting. The haul road to the tails pond is complete and trucks are moving rock from the borrow pit and clay from the east end of the production pit to the facility.

The 2015 feasibility study indicated that the open pit MRC project will produce 87,000 oz of gold annually for at least 8.5 years at an all-in sustaining cost of C$690/oz. The project has a post-tax net present value (5% discount) of C$168 million and an internal rate of return of 30% at a gold price of US$1,200/oz.

Construction photos can be viewed by clicking www.AtlanticGoldCorporation.com/projects/gallery/.