The 45% owned Montagne d'Or Gold Deposit hosts an NI-43-101 Proven and Probable Reserve of 2.75 million ounces gold (54.11 million tonnes @ 1.58 g/t gold). The results of the March 2017 Bankable Feasibility Study demonstrate an open pit mining operation with average annual gold production of 237,000 ounces over the first 10 years of mine life at an average grade of 1.73 g/t gold that results in an average AISC of US$749 per ounce. There is considerable expansion potential on strike and at depth and exploration drilling is currently underway.Bankable Feasibility Study1
Montagne d'Or Gold Reserves & Resources (45% ownership)
2 The resource is confined within a Whittle optimization pit shell using a cut-off grade of 0.4 g/t gold and a gold price of US$1,300/oz. See news release dated March 20, 2017.
3 Mineral reserves are inclusive of the Measured and Indicated resources and are reported at varied cut-offs dependent on lithological rock types, economics, metallurgical recoveries and a gold price of US$1,200/oz. See news release dated March 20, 2017.