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Eldorado Gold Corp.
Summary
| Project: | Lamaque | |
|---|---|---|
| Deposit: | Lamaque | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-3-2018: Eldorado Gold Corp. announces a Pre-Feasibility Study report for its Lamaque deposit at the Lamaque project. Updated mineral resource and reserves and pre-feasibility study results. Eldorado Gold Corporation (Eldorado), an international gold mi | |
| Resources: | (Reserve, P+P): 3.809Mt @ 7.30g/t Au for 893koz Au contained at project | |
| CP/QP: | [Resources]: Stephen Juras (Internal) | |
| ABSTRACT: | Eldorado Gold Corporation (Eldorado), an international gold mining company based in Vancouver, British Columbia, owns the Lamaque Project in Quebec, Canada. Eldorado and InnovExplo have prepared this technical report to report the results of a Preliminary Feasibility Study in support of declaring maiden mineral reserves for the Lamaque Project (the “Project”). Geological information and data for this report were obtained from the Lamaque Project. Metallurgical tests were completed by third party laboratories to support calculations and design of the proposed process flowsheet. The underground mine designs and mining methods, tailings management and water management were designed from first principles to a pre-feasibility level. When preparing reserves for any of its projects, Eldorado uses a consistent prevailing gold price methodology that is in line with the 2015 CIM Guidance on Commodity Pricing used in Resource and Reserve Estimation and Reporting. These are the lesser of the three-year moving average and the current spot price. These were set as of September 2017 for Eldorado’s current mineral reserve work. For gold, these are US$1,200/oz Au. All cut-off grade determinations, mine designs and economic tests of economic extraction used these pricing for the Lamaque Project and the mineral reserves work discussed in this technical report. In order to demonstrate the potential economics of a project, Eldorado may elect to use metal pricing closer to the current prevailing spot price and then provide some sensitivity around this price (for the Lamaque Project, metal prices used for this evaluation were US$1,300/oz Au). This analysis generally provides a better ‘snapshot’ of the project value at prevailing prices rather than limiting it to reserve prices that might vary somewhat from prevailing spot prices. Eldorado stresses that only material that satisfies the mineral reserve criteria is subjected to further economic assessments at varied metal pricing. | |
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