São Vicente is a gold development project located in Brazil. A construction decision was approved in Q4 2006, and production is targeted for 2008 at an expected rate of 45,000 to 55,000 ounces per year.
Location
The São Vicente property is located in the extreme western portion of Mato Grosso State in West Central Brazil, very close to the Bolivian frontier and some 560 kilometres west-northwest of the capital city of Cuiaba. It is approximately 58 kilometres north of São Francisco. São Vicente consists of three contiguous mining permits totalling 28,980 hectares in area.
Project Status
In construction with target production in late 2008
Type of Operation
Open pit, heap leach and gravity concentration
Proven and Probable Reserves
(at December 31, 2007) (includes main ore and run-of-mine ore)
13,060,000 tonnes at 0.81 grams/tonne gold = 342,000 ounces gold
Measured and Indicated Resources
(exclusive of Reserves)
16,048,000 tonnes at 0.58 grams/tonne gold = 298,000 ounces gold
Inferred Resources
3,623,000 tonnes at 0.87 grams/tonne gold = 101,000 ounces gold
Expected Mine Life
5.3 years
Expected Annual Production
55,000 ounces per year
A production decision was approved in the fourth quarter of 2006, based on a favourable feasibility study, with targeted production in late 2008. The operation will be an open pit, heap leach and gravity concentration project with annual production estimated to be 55,000 to 65,000 ounces in 2009.
Gold mineralization at São Vicente occurs for more than 1,000 metres in two parallel northwest trending zones. There is potential for further upside through continued mine exploration down dip.