A Preliminary Economic Assessment for the Snowy River Mine (previously known as Blackwater Gold Project) was completed in October 2014 by OceanaGold Corporation.
The PEA “demonstrated technical and economic viability for extraction of the Birthday Reef, subject to improved understanding of the geological resources, geotechnical and hydrogeological conditions”.
The key base case findings of the PEA are summarised as follows:
| Description | Outcome |
|---|---|
| Mine life | 10 years |
| Pre-production | 2.5 years |
| Product | Gold doré bars |
| Mining method | Air-leg |
| Ore processing method | Grind/gravity/float/resin-in-solution |
| Ore processing recovery | 96% |
| Ore mined per annum | 120,000 tonnes |
| Gold recovered | 570,000 ounces |
| Gold recovered per annum | 58,000 ounces |
| Pre-production capex | US$76M |
A copy of the PEA can be found on the Australian Securities Exchange website.