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Skouries

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 Summary
 
LOCATION Chalkidiki Peninsula, Northern Greece
DEPOSIT Copper-gold porphyry
RESERVES (100%; at December 31, 2010)
Proven + Probable 138 Mt @0.8 g/t Au, 0.5% Cu
= 3.6 M oz Au, 0.7 Mt Cu
RESOURCES (100%; at December 31, 2010)
Measured + Indicated 246.4 Mt @ 0.67 g/t Au, 0.49% Cu
= 5.3 M oz Au, 1.2 Mt Cu
OWNERSHIP 95% (through Hellas Gold)
PROJECT STATUS AND HISTORY
  • Production of Cu-Au concentrate via flotation, plus doré from the gravity circuit
  • Technical components of Definitive Feasibility Study complete
  • Environmental Impact Study (EIS) approved by Ministry of Environment, Energy and Climate Change
  • Long lead items purchased and in storage

Description


The Company's 95%-owned Skouries gold-copper project is located 35km by road from the Stratoni port in northern Greece. Skouries is located on a high plateau with no habitation in the immediate vicinity.

The project is currently at the development stage. Skouries is a typical gold-copper porphyry deposit that forms a near-vertical pipe. The project has mineral reserves of 3.6 million ounces ("Moz") of gold and 736,000t ("736 kt") of copper. The project benefits from a simple metallurgical process route and will produce clean Cu-Au concentrate via flotation as well as doré from the gravity circuit. We expect to access the gold-copper porphyry deposit by means of an open pit followed by underground drift and fill.