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Metminco appoints engineer for Colombia gold mine development

Published: 07:54 16 May 2016 BST

Picture of gold furnace
SRK is to produce an underground only mining scenario with paste backfill

Metminco (LON:MNC) has appointed consultant SRK to provide a resource statement, an underground mine design and review historical data from the Miraflores mine at Quinchia in Colombia.

“It will form the basis for an updated underground only mine plan to feasibility study level," said Bill Howe, Metminco’s managing director.

SRK is to produce an undergroun- only mining scenario with paste backfill - where cement is used to shore up previously mined areas.

The mining plan will be indicative of a feasibility study level design for the mining, with lower level estimates for backfill.

“SRK will also provide the company with a gap analysis of existing and required data for the completion of the Feasibility Study," Howe said.

Metminco expects to complete the acquisition of Quinchia owner Mineras Seafield by the end of the month.

Mineras Seafield owns 100% of Quinchia.

The flagship Miraflores deposit contains 1.88Moz gold and 3.8Moz silver and the focus of the feasibility study will be to optimise the mining schedule for an annual gold production target in excess of 55,000oz.

Metminco wants to process 750,000tpa of ore over a nine-year mine life.

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