VANCOUVER — Trek Mining (TSXV: TREK) is on track to revive its flagship Aurizona gold mine in northwestern Brazil.
On July 31, the company unveiled a re-imagined feasibility study (FS), modeling a $131-million redevelopment plan that would result in “first gold pour” at the site within 18 months.
Trek formed earlier this year when debt-heavy, former Aurizona operator Luna Gold merged with JDL Mining. The project was shuttered in third quarter 2015, following a period of falling gold prices and a slate of operational limitations that included material crushing and processing.
The newly formed company is hoping its new mine plan, which includes increasing throughput from 5,500 t/d to 8,000 t/d, will underpin sustainable operations.
Trek’s FS outlines an open pit gold mine producing roughly 136,000 oz. gold annually, with an initial 6.5-year mine life, at all-in sustaining costs of US$754 per oz. Aurizona’s proven and probable reserves now total 19.8 million tonnes at 1.52 g/t gold for 971,000 contained oz.
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