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Theta Gold Mines Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | TGME | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 1/28/2020 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-1-2020: Theta Gold Mines Ltd. announces a Optimisation Study report for its TGME deposit at the TGME project. Results of the Plant optimisation study - 20% increase to 600 ktpa. Theta Gold Mines Limited (“Theta Gold” or “Company”) (ASX: TGM, TGMO | OTC | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Theta Gold Mines Limited (“Theta Gold” or “Company”) (ASX: TGM, TGMO | OTCQB: TGMGF) is pleased to announce that METS Engineering SA has completed a study into increasing the TGME Gold Plant throughput from the original 500ktpa capacity in the Feasibility Study (ASX release 16 May 2019) to 600ktpa. The 20% increase in the new plant design is expected to be achieved with less than a 1% change to the Feasibility Study Process Plant Capex of 24.85 M USD. The Increased design parameters incorporate the newly purchased (October 2019) 2.5 MW ball mill and the study was concluded in sufficient detail to allow for the development of a Lump Sum Turnkey (LSTK) tender document. More importantly the 20% improvement in capacity (primarily as the result of the procurement of a 2.5 MW ball mill) is expected to only result in a 1% capital cost increase when compared to the Theta Project Feasibility Study (See details in Appendix A). Recent work has also included ongoing optimization of the Theta project and focused on improving the current throughput constraint of the tailings dam, specifically the annual deposition rate. This annual deposition rate has now been confirmed at 600ktpa which matches the increased plant throughput capacity. The Company has also completed the removal of the 2.5 MW mill and the original equipment manufacturer has confirmed that it is in good condition with minor repairs expected to be completed on site during the installation of the mill. | |
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