Canadian junior gold explorer Radius Gold (RDU-V, RDUFF-O) has signed up engineering firm Kappes, Cassiday & Associates (KCA) to develop the company’s Tambor gold deposit in Guatemala.
The agreement calls on development of an initial 150-tonne-per-day operation from both underground and surface pits.
“We are very pleased to have Kappes Cassiday as our partners at Tambor, as they represent some of the best project development expertise in the industry,” said Simon Ridgway, president of Radius. “The agreement will allow us to begin the permitting process and advance the Tambor deposit to production at a time when the gold price shows continuing strength,”
Previous metallurgical test work done by Gold Fields (GFI-N, GOFD-L) has shown that most of the gold is coarse and free milling, and recoveries of up to 66% can be achieved using gravity concentration.
Radius has also proposed that KCA can obtain a 51% interest in the project if it spends $6.5 million on the property within four years through staged annual spending commitments or by putting the project into commercial production within four years.
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