Certej

The Certej-Sacaramb property covers 4,051 ha and is located 15 km NNE of Deva, Romania.

A probable mineral reserve has been estimated at 32.8 Mt at 2.0g/t gold, 11.4 g/t silver for 2.1 Moz gold and 12.0 Moz silver.

All ore and waste will be mined via conventional, open pit mining methods, using an owner mining scenario. The operation is planned to utilise selective mining techniques to separate ore and waste. The mining equipment that is considered to be suitable for the project would include 100 tonne to 180 tonne, back hoe configured, hydraulic excavators for ore zone mining and off-highway haul trucks with a payload capacity of between 65 tonne to 100 tonne. Provision has been made for drilling and blasting from surface.

The metallurgical process involves the production of a gold-bearing concentrate followed by the production of gold and silver as doré on site by means of the Albion Process. The Albion Process is a combination of ultra-fine grinding of concentrates and oxidative leaching at atmospheric pressure. The liberated gold and silver is then recovered as doré by the conventional Carbon in Leach (CIL) process.

It is envisaged that the project could mine and process 3.0Mt per annum over approximately eleven years. This would yield approximately 160,000oz of gold and 800,000oz of silver per annum.

The primary source of raw water will be from the existing water extraction system from the river Mures. In addition, water will be reclaimed from the tailings thickener and from the Tailings Management Facility. The raw water will be pumped to a raw water tank located close to the plant and used to supply water to the plant as well as supplying the process water tank.