Preliminary Economic Assessment (2014)

A Preliminary Economic Assessment for the Snowy River Mine (previously known as Blackwater Gold Project) was completed in October 2014 by OceanaGold Corporation.

The PEA “demonstrated technical and economic viability for extraction of the Birthday Reef, subject to improved understanding of the geological resources, geotechnical and hydrogeological conditions”.

The key base case findings of the PEA are summarised as follows:

Mine life10 years
Pre-production2.5 years
ProductGold doré bars
Mining methodAir-leg
Ore processing methodGrind/gravity/float/resin-in-solution
Ore processing recovery96%
Ore mined per annum120,000 tonnes
Gold recovered570,000 ounces
Gold recovered per annum58,000 ounces
Pre-production capexUS$76M

A copy of the PEA can be found on the Australian Securities Exchange website.