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Eldorado Gold Announces Project Update

Mining News - Published on Thu, 12 Sep 2019

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Eldorado Gold Corporation announced updates on Kisladag metallurgical testwork, its expansion plans at Lamaque and its Greek projects.

Kisladag Update
Kisladag metallurgical testwork is advancing well with the majority of test results now expected to be completed prior to year end 2019. A suite of extended Intermittent Bottle Roll Tests have been completed to help predict heap leach recovery on the existing reserve. IBRT tests are indicating that with the longer heap leach cycle of 250 days, gold recoveries are trending over 50%. More than 100 two-metre columns are also underway, which is the standard test for heap leaching, to confirm the findings of the IBRTs.

The preliminary results, utilizing the IBRT metallurgical testwork, are indicating a possible mine life extension beyond the current three year guidance. In the event that testwork supports a mine life extension, waste stripping would be necessary. The Company expects to be in a position to determine the most economic path for the development of Kisladag by the end of Q1 2020.

Lamaque Update
The Company is evaluating an expansion at its Lamaque project, which would be designed to increase throughput from an average of approximately 1,800 tonnes per day to 2,500 tpd and increase average annual production from approximately 130,000 ounces of gold to approximately 170,000 ounces of gold.

Eldorado is working on a Preliminary Economic Assessment for this expansion, which will include inferred resources up to and including the C7 shear zone at the Triangle deposit and is scheduled to be completed in Q4 2019. Subject to the results of the PEA, the Company will begin a Prefeasibility Study on the Lamaque expansion, which is expected in 2H 2020.

Highlights of the expansion PEA are expected to include:
10 year mine life with target production of 1.5 million ounces of gold
Expected average annual gold production of 170,000 ounces per year once ramp up is complete or 150,000 ounces per year over the full 10 years
Three distinct projects that should allow for expansion up to 2,500 tpd:
• A two kilometre decline and conveyor system from the Sigma mill to the 400 metre level of the Triangle Deposit
• Upgrades to the Sigma Mill to allow for increased throughput
• Construction of a paste plant to provide a long-term tailings solution

The decline project would include an underground crusher and a conveyor system for transportation of ore, which would eliminate ore re-handle, eliminate underground haulage from the 400 meter level to surface and 26 kilometers of round trip surface haulage. Underground drilling platforms would be established along the decline which would provide access for exploration along the geologically prospective ground between the Triangle underground mine and the historic Sigma and Lamaque underground mines. The decline would also provide social benefits including eliminating emissions from surface haulage, removing haulage trucks from public roads and reducing noise for the community.

The Sigma Mill upgrades would include additional leach tanks and a coarse ore stockpile and could include the addition of a SAG mill that would allow processing of more than 2,500 tpd. This additional capacity would set the asset up for future expansion from lower portions of Triangle or other areas of the property. The Company intends to apply for a 2,650 tpd permit, a 50% increase over the current permit, which is the maximum allowed under the Provincial permitting process.

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Posted By : Rabi Wangkhem on Thu, 12 Sep 2019
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