A feasibility study by project operator Waddy Lake Resources (TSE) and Kilborn Engineering is giving shape to the Komis gold deposit in northern Saskatchewan.
The feasibility calculated proven and probable reserves of 757,650 tons grading 0.3 oz. gold per ton, cut and diluted. Possible reserves are estimated at 632,000 tons of 0.39 oz. per ton. The deposit is open along strike and down-plunge.
The mine will be developed by a decline and mined by shrinkage stoping and sublevel blasthole stoping at an ultimate rate of 440 tons per day. Ore will be shipped 30 km southwest to the Jolu mill, which is owned by Waddy Lake’s parent Golden Rule Resources (TSE).
An environmental impact statement has been submitted to the Saskatchewan Ministry of Environment and Resource Management.
The Jolu mill is being rehabilitated for the new operation, and additional construction is under way at the mine site. The study estimates required preproduction capital at $9.8 million and operating costs at $101.44 per ton. This translates into a production cost of US$255 per oz. at an expected yearly production rate of 45,000 oz.
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