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Kaminak Gold Completes Feasibility Study for Yukon Coffee Gold Project, Canada

Published: January 11, 2016 |

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Kaminak Gold Corporation has received the results of a feasibility study prepared for the company’s 100 percent owned Coffee Gold Project located 130 km south of Dawson City in Yukon Territory, Canada. The feasibility study indicates that the Coffee Project represents a robust, rapid pay-back, high margin, 10 year open pit mining and heap leach project that works in the current gold price environment. As such, Kaminak intends to move forward into mine permitting to support mine construction, which is planned for mid-2018. The company is well financed ($28 million as of September 30, 2015) to undertake an aggressive work-plan in 2016 to meet these objectives. 

“This feasibility study firmly establishes the Coffee Project as one of the world’s best undeveloped gold projects by value and margin that works in the current gold-price environment. The Coffee Project further benefits from being a simple, open pit, heap leach mining opportunity, situated near infrastructure that delivers low all in sustaining costs and pays back capital in under two years. Kaminak feels privileged to be working in the pro-mining jurisdiction of Yukon where we enjoy strong relations with all levels of government, including our local First Nations, with whom we have worked alongside, collaboratively since 2010,” said Eira Thomas, Kaminak president and CEO.

The feasibility study was initiated in July 2014 after the release of the preliminary economic assessment in June 2014 and commenced with infill drilling, geotechnical investigations and other fieldwork to support the study. The feasibility study was prepared and led by JDS Energy and Mining Inc. in collaboration with a broad range of industry leading consultants.

Value-enhancing opportunities, such as contract mining, the acquisition of high quality, second hand mining and ancillary equipment, crushing and process plant, and accommodation quarters, will be further investigated as the project moves into detailed engineering and procurement. As operations ramp up and a greater understanding of the ore and heap leach facility performance evolve, extending the duration of the crushing / stacking period, the period and temperature of solution heating, and increasing the size of the ore feeding the heap leach pad will be evaluated. Current oil prices indicate that diesel-only power generation is the most cost effective power option. As diesel prices increase, partial replacement of diesel with LNG will become more cost effective.

There is potential for resource expansion along strike and to depth, with two existing inferred gold resources (Kona North and Sumatra), and seven separate drill discoveries in the early stages of evaluation located proximal to the proposed mine site which contain more than 25 km of priority gold in soil anomalies remaining to be systematically drill-tested.


To stop by Kaminak’s website, CLICK HERE


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