Exploration
EXPLORATION
At Sadiola / Yatela, an additional $2.2 million capitalized exploration budget was approved in Q3 2009 to complement the $14.9 million exploration program approved in May 2009. The 18 month exploration program was designed to fully evaluate the remaining oxide gold potential on the joint venture lands and undertake further investigation of potential sulphide mineralization by Q3 2010.
Outlook
- The current plan at Sadiola indicates a mine life to 2013, using existing oxide reserves and stockpiles.
- The deep sulphide pre-feasibility study projects an increase in production at Sadiola to between 400,000 and 500,000 ounces per year (on a 100% basis running from 2013 through 2018), with an end of mine life in 2019, increasing the total gold production at Sadiola by approximately 2.2 million ounces beyond the current mine plan.
- The Company’s planned 2010 capital expenditure for the Sadiola deep sulphide project is $4 million.