In this 50+ page issue of International Mining Project News Banro has completed a PEA at its Nayoma gold project in the DRC – to find that using a heap leach process could double production to around 250,000 oz/y. The cheaper heap leach option, as opposed to CIL, would allow Banro to move into an expansion phase and see 500,000 t/y as part of a five year growth plan. In Zambia First Quantum reveals an internal study at Sentinel deposit that assumes a resource of at least 700 Mt with a 250,000 t/y production rate – this may yet be expanded further with a drilling program still ongoing at the deposit.

First Quantum currently expects to begin production at Sentinel in early 2014 and is already making evaluations for a new smelter near its Kansanshi mine, which is also expected to substantially expand its production, in order to lessen the pressure on Zambia’s smelters that currently treat the bulk of Kansanshi concentrate. Venturex Resources is also expanding in an agreement with CBH Resources to acquire the largest known VMS in the Pilbara for $26.2 million. Venturex will fund its purchase of the 19.3 Mt Panorama copper-zinc project with an A$36.8 million capital raising and use the remaining proceeds to fast track a DFS that may consider a large scale underground mine.

Integra Mining has completed mineral resource estimates for deposits in the Mt Monger and Randall gold projects – this includes the recent Majestic discovery which now has a maiden Inferred resource of 3.9 Mt at 2.1 g/t Au, which remains open along strike and down dip. The estimates have tempted Integra into bringing forward its expansion plans to take gold production above 100,000 oz/y and provide the foundation for a revised reserves estimate later this year. PMI Gold has received encouraging results from its latest 40,000 m drilling program at its Obotan gold project in Ghana which confirm the integrity of the mineralisation at Nkran, the largest of Obotan’s four known deposits, and hint at the potential for both depth and strike extensions.

In Australia Sherwin Iron has doubled its Indicated resource estimate for the Hodgson Downs area to 107 Mt at 47% Fe – this resource estimate is based on just two deposits in one exploration area and, with three more known deposits to be drilled in 2011 as part of an exhaustive campaign, the company expects to substantially increase this resource again before 2012.

Alexis Minerals has announced that Francois Perron will drive the company’s Snow Lake mine development as its President and CEO. Centaurus Metals has also made several changes to its senior management to accelerate the development of its Brazilian iron ore projects, including the relocation of Operations Director Peter Freund who will be leading an in-country team to achieve production over the next 18 months.

Alcyone Resources has confirmed high grade zones of base metals mineralisation at its Silver Spur prospect, part of the company’s wholly owned Texas project in Queensland, around historic silver workings. The drilling program also revealed evidence of an extension below the old workings. The company is planning on more exploration to define the lead-zinc mineralisation but have already decided to begin a scoping study on an open cut mining operation based on the existing resource.

Breakaway Resources has restarted underground mining at FMR Investment’s Eloise copper mine in Australia and decided to “kick start” exploration programs on targets at Breakaway’s 100% owned Eloise project, within 20 km of the Eloise mine, which will run alongside the company’s recently announced nickel exploration plans. In Queensland Mungana Goldmines has reported resource estimation updates for its Mungana and Red Dome projects totalling 2.5 Moz Au. In preparation for an imminent feasibility study Mungana has also completed scoping studies investigating a 24 Mt open pit at Red Dome as well as underground mining opportunities beneath both of the open pit projects. Central Asia Resources has appointed the heavily experienced Christopher Campbell-Hicks as its Kazakhstan In-Country Manager – where he will be bringing to bear his knowledge of all aspects of gold processing to Central Asia’s gold prospects. 

All this and much, much more in International Mining’s Project News….

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