Avocet Mining PLC | Operations

home

•

terms and conditions

•

•

London and Oslo share prices delayed by 15 minutes.

Guinea

Avocet's main project in Guinea is the Tri-K development project in eastern Guinea, located near to Kankan, Guinea's second largest city. Tri-K consists of several exploration permits covering a total of 490 km², including the Koulékoun and Kodiéran gold prospects, and a mining permit. Avocet owns 100% of all exploration permits it holds in Guinea.

Tri-K is located in the northeast of the country, approximately 90 km northeast of Kankan; the second largest city in Guinea. An exploration programme has been ongoing at Tri-K, which is situated in a large basin of Birimian geology, since 2005. Avocet has completed a feasibility study at Tri-K and announced a Maiden Ore reserve of 480,000 ounces. Mineral Resources at Tri-K totals 3.0 million ounces.

Tri-K heap leach feasibility study

Tri-K is a gold project in northeast Guinea with a total Mineral Resource of 3.0 million ounces. In 2013, Feasibility Study work completed on the basis of a heap leach development of only the oxide portion of the orebody showed that the project can support a 7 year life of mine, producing an average of 55,000 ounces of gold per year. A maiden Ore Reserve of 480,000 ounces (7.9 million tonnes grading 1.89 g/t Au) was also announced as part of the feasibility study.

In March 2015, a mining permit was awarded on the basis of this feasibility study. Work is currently underway to re-engineer the project and reduce capital and operating expenditure significantly, with a view to raising funding for construction to commence in early 2016.

Potential for development of larger CIL project

The Company intends to review the alternative of a CIL plant to exploit the entire 3.0 million ounce resource at Tri-K, including 2.4 million ounces contained within the fresh and transitional material. Metallurgical testwork to date, based on CIL processing methods, suggests that Tri-K material is amenable to standard CIL techniques.

LOCATION MAPS AND TECHNICAL PLANS

RESOURCES & RESERVES