The Colomac Project

"1.0 SYNOPSISThe Colomac property, located 137 miles by air northwest of Yellowknife in Canada's NWT. will recover gold from 10,000 tons per day of open pit ore.The decision to proceed with the project was based on a mineable ore reserve of 16 million tons (including dilution) averaging 0.064 oz/ton. After an in-fill drilling program in the latter half of 1988, Colomac's mineable, proven and probable ore reserves were increased to 28 million tons averaging 0.056 oz/ton of gold.A feasibility study completed by Wright Engineers for Neptune Resources in December 1987 examined the possibility of vat leaching followed by C.l.P. and electrowinning. A second feasibility study completed by Wright in February 1988 demonstrated that a conventional agitated leach circuit using a finer grind justified the higher capital cost of this process. This study was accepted and formed the basis of the project authorization.Preliminary engineering commenced in April 1988 and detailed engineering was started in September of that year with the objective of a mine/mill start-up by early 1990.The short time period available to meet the project deadline was additionally challenging, as site access is either by plane year round, and winter road from early February to late March. Normal lead times for equipment design, specifications, quotations and bid analyses were not possible, if the winter road time-slot was to be met."