BRITISH COLUMBIA – Vancouver-based Spanish Mountain Gold is moving forward with a feasibility study of its Spanish Mountain gold project 70 km northeast of Williams Lake without waiting for the completion of the pre-feasibility report. Tetra Tech (formerly Wardrop) will complete the feasibility study by Q3 2013.
Spanish Mountain announced the discovery of the Phoenix zone, 2 km from the Main zone, in December 2011. The company intends to quantify and include the new zone in its economic studies without delaying the feasibility study or extending the development timeline.
The current plan is to begin production at 25,000 t/d from an open pit and boost it to 40,000 t/d. Higher grades during the first phase of mining would produce about 200,000 oz of gold annually. Likewise, the tailings management area will be built in stages. Waste characterization and power supply studies are also being carried out.
The most recent resource estimates are available at SpanishMountainGold.com