Mining Project
Casposo
General Information
- Investment Company: AUSTRAL GOLD LIMITED
- Operating Company: CASPOSO ARGENTINA LTD. - SUCURSAL ARGENTINA
- Source of Capital: Argentina - Australia
- Address: Bolivar 108 - CABA (1066) - Argentina
- Phone: +54 11 43237500
Project Details
– Location
Calingasta Department - Province of San Juan
– Description
Low sulphidation epithermal system
– Capital Cost
$40,000,000.00
– Mine Operation
Currently the mine is on "care and maintenance" with a focus on exploration activities
– Processing
Processing Plant: ~1,500 tpd mill followed by agitation cyanide leach and Merrill Crowe circuit
– Average Annual Production
Historical production (2011-2019): 540,000 ounces of gold equiv.
Additional Comments
- The Casposo Mine was placed on care and maintenance during the June 2019 quarter and exploration activities that commenced during the December 2019 quarter have been ongoing with the goal of recommencing processing operations.
- During last quarter 2023, the exploration efforts were concentrated on reviewing and interpreting target areas in the Casposo-Manantiales Mine Complex, including the preliminary design of a drill plan at Cerro Amarillo to define drilling targets for the first quarter of 2024. Additionally, a third-party consultant was engaged during the quarter to prepare a Mineral Resource Estimate (MRE) for Casposo and Manantiales Districts including Manantiales, Mercado, B-Vein, and Julieta Veins.
- The report is expected to be completed during Q2 2024.
- The company's objective is to generate a mineral reserve of 250,000 oz of gold equivalent, allowing an annual production of 30,000-35,000 oz of gold equivalent.