SolGold plc says G Mining Services Inc has been awarded the contract to provide project management services for the Cascabel Project feasibility study (FS), in Ecuador, following a competitive selection process that considered multiple firms with extensive mining expertise.
G Mining Services’ project management scope will include overseeing timelines, milestones and deliverables, as well as implementing and managing cost control systems.
G Mining will develop and maintain detailed project schedules, assist SolGold with specialised consultant selection and contract management and provide senior estimation services for project costing. It will also offer expertise in various engineering disciplines such as mining, infrastructure, metallurgy and processing, and capital and operating expense estimation. SolGold will continue to maintain substantial input in the selection of specialised consultants. This phase is key to de-risking the project and will lay the foundation for future development stages.
G Mining Services was selected for this important phase due to its substantial experience in the Ecuadorian mining sector, notably its success with the Fruta del Norte project, competitive cost structure and availability to meet the project’s timeline for this scope, SolGold says. It has successfully delivered on several major global projects, including the Tocantinzinho gold project in Brazil and Newmont’s Merian mine in Suriname.
Scott Caldwell, President and CEO of SolGold, said: “We are pleased to have G Mining onboard for this critical phase of the Cascabel project. Their Ecuadorian experience, cost-competitive approach and strong team make them the ideal partners as we advance the project, de-risk key elements and move forward. There remain numerous areas we feel meaningful improvements can be made to the existing PFS, particularly in the areas of the inclusion of the Tandayama-Ameríca open-cut resources, gold and copper recovery, improved mine plan, site layout and infrastructure efficiency, power supply, waste rock and tailings management. We look forward to G Mining’s assistance in this evaluation.
“At the same time, we are working on the processes to secure the various permits to facilitate access to development and the balance of the financing that will be required for a development decision.”
The Cascabel PFS envisaged average production of 123,000 t/y of copper, 277,000 oz of gold and 794,000 oz of silver from a mine that had an initial 28-year mine plan of 540 Mt containing 3.2 Mt of copper at 0.60% Cu, 9.4 Moz of gold at 0.54 g/t Au and 28 Moz of silver at 1.62 g/t Ag based on its reserves.
Mathieu Gignac, President of G Mining Services, said: “We are excited to collaborate with SolGold on the Cascabel project, a world-class copper-gold deposit with immense potential. Our team’s experience in managing large-scale projects like Cascabel, combined with our local presence in Ecuador, positions us to help SolGold unlock significant value while systematically de-risking and advancing this outstanding asset.”
