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Tocantinzinho is a non-refractory gold project is located in the prolific Tapajos district in northern Brazil.

Key Facts

Location Para State, Brazil
Mine type Open pit
Metals mined Gold
Employees/contractors 73
Expected mine life ~10 years*
Deposit type Intrusion-hosted, non-refractory gold
Ownership 100%
Resources & Reserves

* Based on current proven and probable reserves.

2017 Outlook

A construction decision at Tocantinzinho has been deferred until all permits are in place. A decision will take into account the gold price outlook at that time and the progress of other priority development projects in the Company.

Compared to previous September 2016 guidance of $95.0 to $105.0 million in capital expenditures for 2017, the Company now expects to spend $35.0 million in capital during 2017. The focus will be primarily on completing construction of the access road to site, permitting, basic engineering and general site costs.

Indicative Operating Data

Estimated Annual
Tonnes milled 4.3 Mt
Au grade (with reprocessed tails) 1.42 g/t
Au recovery 90%
Gold production 170,000oz
C1 – Operating cash cost $535/oz
C2 – Total cash cost $580/oz
Sustaining cash cost* $615/oz

*C2 + sustaining capital

For more information, please see our Tocantinzinho Project Presentation.

Geology and Mineralization

Tocantinzinho is an intrusion-related gold deposit hosted in Paleoproterozoic granites of the south-central Amazon Craton. The deposit is located along a major regional NW trending fault zone which at the deposit scale controls the emplacement of multi-phase intrusions and gold mineralization. A wide range of fractionated granitic phases are recognised including quartz monzonite, syenite, alkali feldspar granite, granite and aplite. The deposit displays spectacular magmatic-hydrothermal transition textures such as unidirectional solidification textures, interconnected miarolitic texture (IMT), rapid grain size variations from pegmatite to aplite, and vein dykes. The bulk of the ore is hosted in two main rock types. “Smokey” granite is pale pink-grey in colour and is mostly distributed in the core of the deposit. It varies from a coarse grained blebby texture (likely IMT) to equigranular granite. “Salami” granite has a strong pink-red colour and is an alkali feldspar granite with a blebby (IMT) texture and commonly transitions into aplite-pegmatite zones. Mineralization is characterized by fine, irregular vein networks of quartz, black chlorite, sulfide (pyrite, molybdenite, chalcopyrite) and calcite. The veinlets commonly develop along grain contacts and their irregular wormy nature suggests that they formed during late crystalllization of the host granite.

Exploration

Exploration outside of the main Tocantinzinho deposit area is directed towards identifying drilling targets that might yield satellite mineralized bodies. To date, this work has included airborne magnetic and radiometric surveys, IP surveys, collection of outcrop and channel samples (mainly from artisanal workings), and extensive grid-based soil sampling programs.

History

2016 Construction decision deferred pending receipt of permits, improved gold price outlook and progress of other priority development projects.
2015 Positive Feasibility Study completed
2012 Approval of Preliminary Environment License
2010 Eldorado acquired Brazauro Resources and the Tocantinzinho Project
2008 Eldorado takes part in an Option Agreement with Brazauro Recursos Minerais and together with Eldorado’s subsidiary, Unamgen, carried out a drilling program

Resources

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