Gold Mountain Mine

Gold Mountain Mine is Located in Yining County, 500 km west of Urumuqi, the capital city of Xinjiang, north-western China. It is a low-grade, bulk-tonnage, open pit operation that uses heap leaching for gold recovery. Open pit mining began in 2013 and first gold pour started in 2014. The operation reached full processing capacity at 5 million tonnes annually since 2017 and will reach an average annual gold production of 80,000oz.

 INDEPENDENT TECHNICAL REPORT                                 

 MINERAL RESOURCES AND ORE RESERVES STATEMENT AS AT 31 DECEMBER 2018

Key Facts

Location Xinjiang, China
Mine Type Open-pit, Heap Leach
Employees (exclude contractors) 350
Ownership 100%
Processing Capacity 5 million tonnes per year
Life of Mine 18 years



Operating Data

Item Unit 2018 2017 2016 2015
Ore processed Kt 6,586 5,456 4,790 4,156
Strip ratio : 4.03 4.09 1.22 1.06
Feed-in grade of ore g/t 0.82 0.85 0.95 0.77
Recovery rate % 66.5 65 57 53
Gold produced Oz 98,228 84,849 66,604 43,661
All-in gold production cost USD/Oz 682 695 609 850
Cash operating cost USD/Oz 581 594 537 609



Mineral Resources and Reserves

Measured and Indicated 103,820 0.75 77,661 101,200 0.69 69,750
Total 136,000 0.74 100,084 122,500 0.7 85,340
JORC Mineral Resources 31 December 2013* 31 December 2018**
Tonnage
(kt)
Grade
(g/t)
Contained Gold
(Au kg)
Tonnage
(kt)
Grade
(g/t)
Contained Gold
(Au kg)
Measured 23,630 0.77 18,092 20,070 0.77 15,380
Indicated 80,190 0.74 59,569 81,130 0.67 54,370
Inferred 31,905 0.7 22,423 21,300 0.73 15,590

 

Total 90,410 0.74 67,280 62,430 0.76 47,160
JORC Mineral Reserves 31 December 2013* 31 December 2018**
Tonnage
(kt)
Grade
(g/t)
Contained Gold
(Au kg)
Tonnage
(kt)
Grade
(g/t)
Contained Gold
(Au kg)
Proved 10,390 0.74 7,650 15,050 0.72 10,790
Probable 80,020 0.75 59,610 47,380 0.77 36,370


*Source: Independent Technical Report by Micromine dated 31 December 2013.
**Source: MINERAL RESOURCES AND ORE RESERVES STATEMENT by WISEMINETECH dated 31 December 2018