Dalradian Resources Inc.
Micon began working with Dalradian Resources Inc. (Dalradian) on its Curraghinalt project in the Fall of 2009, shortly after its acquisition. The Curraghinalt gold deposit is located in Northern Ireland, near the town of Omagh. Prior to that, in 2007, Micon had prepared a mineral resource estimate for the previous owners, Tournigan Gold Corporation (Tournigan). In May, 2010, Micon completed its mineral resource estimate on the Curraghinalt deposit for Dalradian and published an NI 43-101 Technical Report in support of a prospectus. This estimate used the final few drill holes completed by Tournigan. The mineral resources were further updated in 2011 using surface drilling completed by Dalradian. Curraghinalt is a structurally controlled, mesothermal gold deposit. It is comprised of a swarm of generally parallel, gold-bearing quartz veins within a meta-sedimentary sequence of pelites, semi-pelites and psammites. The veins, which are aligned along a west-northwest trend, dip steeply to the north at 60º to 75º and are relatively high grade. They range from a few centimetres to over 3 m in width and are on average approximately 1.2 m wide. The veins are composed dominantly of quartz, with some carbonate minerals. Locally abundant sulphide minerals in the veins are mostly pyrite and commonly contain variable amounts of other accessory minerals, notably chalcopyrite, tetrahedrite and tennantite, and trace amounts of galena, sphalerite, molybdenite. Several telluride minerals are also present. Gold is reported to occur as electrum, in unspecified telluride minerals and within the pyrite. The measured and indicated mineral resources in the 2011 estimate averaged 13.0 g/t Au (diluted to a minimum horizontal width of 1 m). The majority of the resources (83%) were in the inferred category and graded 12.74 g/t Au (also diluted to a 1 m width). This estimate was used as the basis for a Preliminary Economic Assessment (PEA) published in September 2012. The mine plan developed by Micon used mechanized longhole mining with ramp access and truck haulage, at a production rate of 1,700 t/d. Ramp access was chosen over shaft access due to the long lateral extent and relatively shallow depths of the deposit. As the deposit is open at depth a shaft may be required in future to access levels below the current mine plan. The mine plan included provisions for mining losses and dilution. The processing flow sheet selected for the PEA consisted of crushing, grinding, cyanidation and conventional tailings disposal. This flow sheet was based on extensive metallurgical testing carried out by previous operators of the project, and by Dalradian. Several other processing flow sheets were examined in the PEA, but were determined to result in less favourable economic outcomes. Total gold recoveries, based on existing metallurgical test work, were expected to be approximately 92%. The study also considered the infrastructural requirements of the project, including access, power supply, offices and workshops, process water, backfill preparation and tailings storage. In 2014, Micon updated the results of the 2012 PEA to take into account a new resource estimate and revised metal prices and cost estimates. The positive results of this study continue to support further development of the Curraghinalt project.
Additional Case Studies
Case studies demonstrate the range and breadth of Micon’s experience and its approach to meeting clients’ needs.
Alrosa Case Study
In 2013 Micon completed an independent review and valuation of the ALROSA Group of Companies’ principal diamond assets in Russia. This included visits to the majority of the ALROSA operations, an audit of the ALROSA reserve statements and preparation of mineral resource and reserve statements classified according to the definitions of the JORC Code for each of the mining divisions. Read more.
Timmins Gold Corporation
Since 2009, Timmins Gold has engaged Micon to conduct further reviews and audits on the San Francisco Project, as well as a number of other assignments. A number of these reports have been filed with the appropriate regulatory bodies by Timmins Gold and a number of these have remained as internal reports for the exclusive use of Timmins Gold. Micon continues to assist and advise Timmins on an as needed basis. Read more.