“It’s a big milestone for us. I took over #TriStarGold in December 2015 and we had 280,000 ounces on the books then. We have now just published our PFS: 1.4 million ounces of reserves and some compelling economics to go along with that. We’re super excited right now that it’s coming to fruition,” said TriStar Gold CEO Nick Appleyard.
TriStar Gold, GE21 Consultoria Mineral of Belo Horizonte, Brazil, and Piteau Associates of Sandton, Brazil have completed the pre-feasibility study for the Castelo de Sonhos gold project in southern Pará State, Brazil. The results of the study also included an updated mineral resource estimate.
According to Appleyard, the study revealed that the project is broken into two phases, even though it’s one original deposit. Phase One has all-in sustaining costs $50 lower than the average $850 an ounce rather than 900 for the life of mine. “That’s where we’re clearly making a lot more money.
That’s the first six years producing 150,000 ounces of gold a year. Is there any gold in that area at that grade under those conditions that can allow us to extend phase one from six years to eight years to 10 years? The answer is yes. We think there is. We’re gonna go after it and try and extend that, which is the high margin material.”