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| Overview of Nova Scotia gold projects
A unified production plan for the Touquoy and Cochrane Hill Gold Projects based on conceptual study level modelling has been developed. Total potential output is expected to exceed 900,000 ounces at current gold pricing.
The production plan involves re-location of the planned Touquoy 2 Mtpa gravity/CIL treatment plant to Cochrane Hill following completion of the Touquoy operation and presents a potential 90,000 ounces per annum over a minimum 10 year mine life.
These conceptual production projects are underpinned by a mineral resource inventory of over one million ounces of gold:
|
Tonnes
(millions) |
Grade
(g/t gold) |
Contained gold
(ounces)
|
Touquoy |
Measured Resources |
2.8 |
1.5 |
130,000 |
Indicated Resources |
7.3 |
1.5 |
350,000 |
Inferred Resources |
1.6 |
1.5 |
77,000 |
Total Touquoy |
11.7 |
1.5 |
557,000 |
Touquoy West
|
Indicated Resources |
0.9 |
1.9 |
54,000 |
Inferred Resources |
0.6 |
2.2 |
45,000 |
Total Touquoy West |
1.5 |
2.0 |
99,000 |
Total Touquoy Project |
13.2 |
1.5 |
656,000 |
Cochrane Hill
|
Indicated Resources |
4.5 |
1.8 |
251,000 |
Inferred Resources |
5.6 |
1.6 |
298,000 |
Total Cochrane Hill Project |
10.1 |
1.7 |
549,000 |
|
TOTAL NOVA SCOTIA |
23.3 |
1.6 |
1,205,000 |
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| Touquoy NEW
In June 2012 the Nova Scotia Minister of Natural Resources has issued
vesting orders under the provisions of the Mineral Resources Act for the final 14 surface land titles
required to complete the land acquisition project for the Touquoy Gold Project. This is one of the last
major requirements prior to commencing development programs to take the project into production.
Update in February 2012 of the Definitive Feasibility Study confirms the robust viability of the
Touquoy Gold Project with cash costs, including royalties, of US$597/oz, pre-tax NPV (8%) of $149 million, IRR of 42% and payback in 24 months
at a gold price of US$1500/oz. >> read more |
| Cochrane Hill
Atlantic Gold is to conclude the purchase of the Cochrane Hill Gold Project from Scorpio Gold (Canada) Corporation, following dismissal
by the Supreme Court of Nova Scotia of a claim by Steeple Holdings Limited. The Cochrane Hill property is located 80 km east of Atlantic Gold's
Touquoy Gold Project and secures 5 km of highly prospective terrain.
The Cochrane Hill resource comprises 10.1 million tonnes @ 1.7 g/t for 549,000 contained ounces of gold.
>> read more |
| Nova Scotia Regional
Reconnaissance exploration over broad tracts of highly prospective, under-explored, wholly-owned tenements and more detailed exploration targeting well mineralised positions on optioned properties.
>> read more |
| LAST UPDATED: 18 June 2012
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