Leagold Mining has reported the results of an updated feasibility study of the previously operated Santa Luz open-pit gold mine in Bahia state, Brazil. Leagold acquired the project in May as part of its acquisition of Brio gold.
The Santa Luz project has proven and probable open-pit mineral reserves of 28.2 million metric tons (mt), grading 1.39 grams/mt gold and containing 1.26 million ounces (oz) of gold. Gold production is estimated at 1.06 million oz over an 11-year mine life at all-in sustaining costs of $856/oz. Capital costs to complete and restart the mine are estimated at $82 million.
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