en.Wedoany.com Reported - P2 Gold has increased the annual production rate for the Gabbs gold-copper project in Nevada to 12 million tonnes and advanced the mill start-up to the third year of the mine life, with the feasibility study targeted for completion in the fourth quarter of this year.
The company announced that the feasibility study for its wholly-owned Gabbs project will proceed at a nominal production rate of 12 million tonnes per year. During the first two years of operation, the heap leach facility will operate at a rate of 14 million tonnes per year, with the mill starting up in the third year of the mine life. The increase in throughput from 9 million tonnes per year and the advancement of the mill start-up by three years address optimization opportunities identified in the 2025 Preliminary Economic Assessment, a decision made following the evaluation of multiple mining scenarios.
The crushing circuit will consist of two identical three-stage crushing trains, each with a capacity of 7 million tonnes per year, utilizing high-pressure grinding rolls in the third stage. The increased operating rate in the first two years will accelerate cash flow to repay capital costs and increase the stripping of oxide mineralization to expose sulfide mineralization for mill operations in the third year, while minimizing or avoiding ore stockpiling and re-handling. From the third year onward, the two identical crushing trains will provide flexibility, allowing one train to be primarily allocated to the mill circuit and the other, or both, to the heap leach facility as needed. Operating identical dual trains is expected to simplify maintenance, spare parts inventory, operator training, and procedures, resulting in cost savings over the mine life.
Joe Ovsenek, President and CEO of P2 Gold, stated: "Increasing the production rate for the Gabbs project to a nominal 12 million tonnes per year and advancing mill production to the third year supports our feasibility study target production for the Gabbs project of 150,000 ounces of gold and 45 to 50 million pounds of copper per year. We believe the Gabbs feasibility study will demonstrate the project's potential to become a significant gold-copper producer in Nevada with exceptional economic potential."
Metallurgical test work is ongoing, covering heap leach, flotation, and crushing and grinding studies. With the production rate decision confirmed, equipment selection and general arrangement design can proceed. Power supply studies are also underway. The Bureau of Land Management's baseline needs assessment report and resources have been defined, and consultants have been engaged for each required baseline report. Regarding water resources, permits have been obtained to drill three test wells and five monitoring wells, and a water well drilling contractor is mobilizing to the site, with drilling of the first test well expected to begin this week.
The updated mineral resource estimate is targeted for completion in the third quarter, with the Gabbs project feasibility study targeted for completion in the fourth quarter of this year.
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