A March 2021 preliminary economic assessment for the Goliath Gold Complex in Ontario, Canada, describes proposed processing facilities and presents historical and testwork data for three deposits.
Report context
This NI 43-101 technical report and preliminary economic assessment for the Goliath Gold Complex was prepared for Treasury Metals Inc. with a report date of March 10, 2021, and an effective date of January 28, 2021. The report was refiled on May 31, 2021, because tables on pages 463-465 were cut off in the original filing on SEDAR on March 11, 2021. The complex encompasses three properties: Goliath, Goldlund, and Miller, all located in Ontario, Canada.
Processing route
Crushing Circuit
The proposed processing route begins with a crushing circuit. Run-of-mine material is fed to the crushing circuit, which reduces particle size prior to the mill feed stockpile.
Mill Feed Stockpile
Crushed material is directed to a mill feed stockpile. This intermediate storage provides surge capacity between the crushing and grinding circuits.
Grinding and Gravity Circuits
From the mill feed stockpile, material enters the grinding and gravity circuits. These circuits reduce particle size further and recover free gold using gravity separation methods.
Leaching and CIL
Following grinding and gravity recovery, the material proceeds to leaching and carbon-in-leach (CIL) circuits. Gold is dissolved in cyanide solution and adsorbed onto activated carbon.
Elution and Carbon Regeneration
Loaded carbon from the CIL circuit is processed through elution to strip gold from the carbon. The stripped carbon is then regenerated for reuse in the CIL circuit.
Intensive Leaching
An intensive leaching circuit is included to treat gravity concentrate, providing additional gold recovery from the high-grade concentrate stream.
Electrowinning and Gold Room
Gold-bearing solution from elution and intensive leaching reports to electrowinning cells, where gold is deposited onto cathodes. The gold room provides facilities for refining and producing doré bars.
Cyanide Detoxification and Tailings Management
Tailings from the CIL circuit undergo cyanide detoxification to destroy residual cyanide before deposition in the tailings storage facility.
Consumables and Reagents
The processing plant includes facilities for storing and handling consumables and reagents required for the process, including cyanide, lime, and other processing chemicals.
Key reported parameters
| Parameter | Value | Basis |
|---|---|---|
| Processing rate (proposed) | Not specified in processing sections | Proposed design |
| Goliath metallurgical testwork (2011) | KM2906 | Testwork |
| Goliath metallurgical testwork (2012) | KM3406 | Testwork |
| Goliath metallurgical testwork (ALS) | KM5262 | Testwork |
| Goliath metallurgical testwork (Base Metallurgical Laboratories) | BL0172 | Testwork |
| Goldlund metallurgical testing | Referenced, details in Section 13.4 | Testwork |
| Goliath and Goldlund combined testing | Referenced, details in Section 13.5 | Testwork |
| Historical production (Goldlund-Miller property) | Referenced, details in Section 6.2.3 | Historical operating data |
Project website: https://nexgold.com/goliath-gold-complex/
Technical qualifications
The report is a preliminary economic assessment and therefore does not represent a feasibility study. The mineral resources presented are not mineral reserves and do not have demonstrated economic viability. The processing design and flowsheet are based on proposed design parameters and metallurgical testwork; no actual plant operating data from the Goliath Gold Complex is available as the project has not been constructed. All metallurgical testing referenced is from laboratory-scale test programs, not from production-scale operations. The report notes that tables on pages 463-465 were cut off in the original filing, requiring refiling for completeness.
Source: N.I. 43-101 Technical Report & Preliminary Economic Assessment of the Goliath Gold Complex, report date March 10, 2021, effective date January 28, 2021. Sections 1.11, 13, 17.
