Vista Gold said that work on an internal scoping study for development of the Mt Todd gold project in the Northern Territory, Australia, at a smaller initial scale has delivered promising results.
The U.S.-based developer evaluated the technical and economic merits of smaller-scale alternatives that contemplate significantly lower initial capital costs while preserving the opportunity for subsequent expansion or staged development.
Vista’s work to date indicates that a nominal 5 million tonne per year project could be designed and constructed with an initial capital expenditure of less than US$350 million for scenarios that include contract mining and would achieve annual production in the range of 150,000-200,000 ounces of gold per year.
“Our conservative approach, which includes the use of the 2022 feasibility study’s advanced engineering, gives us confidence that a smaller and easier-to-build initial phase of the project is viable and economically attractive,” said Frederick H. Earnest, president and CEO of Vista.
Vista Gold said it has not yet undertaken studies to assess throughput expansion or staged development opportunities.
Mt Todd, located 250 kilometres southeast of Darwin, is positioned to be one of Australia’s largest gold producers on an annual basis, with measured and indicated gold resources totaling more than 7.8 million ounces.
Source: Vista Gold