Kaminak Advancing Coffee Gold Project
Kaminak intends to move forward into mine permitting to support mine construction, which is planned to begin in mid-2018. Initial capital expenditure to fund construction and commissioning is estimated at C$317 million. All-in sustaining cash costs are estimated to at US$550/oz of gold produced.
The Coffee project feasibility study proposes mining of four open pits by conventional shovel and truck methods at a nominal ore mining rate of 5 million mt/y. A total of 312 million mt of material will be mined at a strip ratio of 5.7:1 to produce 46.4 million mt of ore.
Head grade to the crusher will average 1.45 g/mt gold. Run-of-mine ore will be crushed to a 2-in. feed size and placed on a heap-leach pad. Gold will be extracted from the leachate by an adsorption-desorption- recovery (ADR) carbon plant.
The Coffee project has potential for resource expansion along strike and at depth, with two existing inferred gold resources and seven separate drill discoveries in the early stages of evaluation located proximal to the proposed mine site.