This technical report presents a mineral resource estimate for the Yaraguá and Veta Sur vein systems at the Buriticá Gold Project in Colombia, supported by proposed processing routes from a 2014 preliminary economic assessment.
Report context
The Buriticá Gold Project is located approximately 72 km northwest of Medellín, Colombia, and is 100% owned by Continental Gold Inc. through its wholly-owned subsidiary CGL Buritica Limited. The project comprises 66 granted tenements and applications covering approximately 61,783 ha. A preliminary economic assessment (PEA) effective November 17, 2014, and dated December 22, 2014, was prepared by M3 Engineering & Technology Corporation and forms the basis for the processing information reproduced in this 2015 technical report.
Processing route
Proposed plant throughput
The PEA assumes that the Buriticá Project will consist of an underground mine anticipated to provide a mill throughput of 2,000 tonnes per day (tpd) initially, later increasing to 3,500 tpd.
Proposed metallurgical process
Mineralized vein material comprising the resource will be leached with cyanide and recovered via a Merrill Crowe process. Gold/silver bullion will be produced on site.
Proposed tailings management
Tailings will be dry stacked.
Mine life
The mine life is approximately 18 years based on the 2014 resource estimates that informed the PEA.
Key reported parameters
| Parameter | Value | Basis |
|---|---|---|
| Initial mill throughput | 2,000 tpd | Proposed design (PEA) |
| Later mill throughput | 3,500 tpd | Proposed design (PEA) |
| Mine life | Approximately 18 years | Proposed design (2014 resource) |
| Gold recovery method | Cyanide leaching, Merrill Crowe | Proposed design (PEA) |
| Product | Gold/silver bullion | Proposed design (PEA) |
| Tailings method | Dry stacking | Proposed design (PEA) |
| Historical mine | Yaraguá underground gold mine | Historical operating data |
| Average mineralized interval | Approximately 1.1 metre true width | Historical underground development data |
Project website: https://www.continentalgold.com/continental-gold-limited-announces-internal-reorganization-2/
Technical qualifications
The technical information and economic parameters used in the PEA are considered relevant to the Buriticá Gold Project and are reproduced in this update report. Readers are referred to the cautionary note regarding the preliminary economic assessment contained in subsection 2.6 of the source report. This technical report includes updated mineral resource estimations for the Yaraguá and Veta Sur mineral systems. Underground work by CGI has been confined to exploration and development of the Yaraguá vein system and development of the primary mine access via the Higabra Valley Tunnel.
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Source: Independent Technical Report and Resource Estimate on the Buriticá Gold Project 2015.
