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PanTerra Gold (ASX: PGI), formally known as EnviroGold, is a near term gold producer at its Las Lagunas project in the Dominican Republic with construction scheduled for completion in December 2011. The project has an expected life of seven years at an annual production rate of 65,000 ounces of gold and 600,000 ounces of silver.
PanTerra Gold is also active in Ecuador with the advanced Azuay Gold Mining project and the San Gerardo Gold Mining prospect. At the Azuay project, construction is targeted to commence in mid 2012.
EnviroGold to fast track Albion gold processing plant construction at Las Lagunas
EnviroGold (ASX: EVG) is accelerating construction activity at its Albion processing plant following finalisation of all major construction and equipment supply contracts.
Construction at its 100% owned, 75,000 ounce (OZ) gold per year plant, in the region of the Las Lagunas Project in the Dominican Republic, is scheduled for completion at the end of November 2011.
The company expects a ramp up to full gold production to take place between December 2011 and February 2012.
In addition, there have been developments at the Las Lagunas Gold Tailings Project with two of the three critical items of mechanical equipment (ball mill and Isamill) now fully installed.
The third critical mechanical item (modular oxygen plant) will be shipped from South Korea in April 2011, ahead of schedule.
Structural steel erection has commenced, and tank fabrication and specialty platework is occurring in four separate workshops in Santo Domingo, and one in Miami.
The last major concrete foundation (tailings thickener) will be completed in February 2011. Trial mining of the 5.13 million tonnes high grade tailings deposit will be undertaken in April-May 2011.
In early December, EnviroGold bought out minority interest partners, moving to full ownership of the Las Lagunas project and the Albion plant.
With a 100% plant ownership the company is in a better position to establish a mining or tolling joint venture, which could provide feed to the Albion plant and extend the life of the project.
EnviroGold has agreements with Xstrata Technology to use its ground-breaking Albion Process Technology, anabling the extraction of gold and silver from refractory ore or mine tailings. The process eliminates the threat of acid mine drainage, resulting in a net benefit to the environment.
The project has a JORC resource of; 5.1 million tonnes of ore grading at 3.76g/t gold and 38.62g/t silver, with forecast annual production of 65,000 gold ounces and 600,000 silver ounces.
The Las Lagunas region is highly prospective and contains extensive targets for gold in refractory ores, and includes Barrick Gold’s (TSE/NYSE: ABX) 23 million gold ounce Pueblo Viejo property, which is currently being developed at a cost of US$3 billion.
