en.Wedoany.com Reported - Austral Gold Limited has released an updated technical report for the Guanaco mine in the Antofagasta Region of Chile, indicating a 14-year mine life and an after-tax net present value of $192.1 million (at a 10% discount rate).
This technical report, compliant with Canadian NI 43-101 standards, establishes a life-of-mine plan for the Guanaco mine from January 2026 to February 2040. The report confirms proven and probable mineral reserves of 18.1 million tonnes, with an average grade of 0.84 g/t gold and 5.43 g/t silver, containing approximately 352,000 ounces of gold and 1.493 million ounces of silver. Measured and indicated resources total 17 million tonnes, with grades of 0.94 g/t gold and 6.11 g/t silver, containing approximately 511,000 ounces of gold and 3.269 million ounces of silver. Inferred resources amount to 2 million tonnes, with grades of 1.17 g/t gold and 7.14 g/t silver, containing approximately 77,000 ounces of gold and 466,000 ounces of silver.
In terms of metallurgical recovery, the average life-of-mine gold recovery rate is 72%, and silver recovery rate is 47%. This average is significantly influenced by the reprocessing of heap leach tailings, with higher-grade feed achieving higher recovery rates. The economic analysis uses an average life-of-mine gold price of $3,135 per ounce and a silver price of $42 per ounce, based on the median of independent third-party consensus forecasts. All-in sustaining costs are $2,114 per gold equivalent ounce, with operating costs at $1,978 per gold equivalent ounce. Life-of-mine capital expenditure is $13.9 million, including $2.2 million in sustaining capital and $11.7 million in closure and reclamation capital.
This updated report is based on a detailed review of existing data from the Guanaco mine, establishing a new geological model. The mineral resource estimate is supported by a dense drill hole spacing of 25×25 meters, which defines the measured and indicated resources. Compared to the 2022 technical report, the new report focuses solely on the Guanaco mine, whereas the previous report covered the now-depleted Amancaya underground mine. The new mine plan is entirely based on open-pit mining, including five pits: Dumbo, Defensa, Perseverancia, Quillota, and Inesperada, as well as the reprocessing of three existing heap leach pads.
Of the updated mineral reserves, ore from the Inesperada and Dumbo areas totals approximately 5.9 million tonnes, accounting for about 32% of the reserves, containing approximately 185,000 ounces of recoverable gold (53% of the gold in reserves) and 823,000 ounces of recoverable silver (55% of the silver in reserves). The environmental impact statements and related permits for these areas have not yet been completed, with approval expected between the fourth quarter of 2026 and the first quarter of 2027. The report notes that despite this uncertainty, the qualified person believes there is a reasonable basis to expect that the relevant approvals will be obtained. The Guanaco mine's operations benefit from existing infrastructure, including operational heap leach and agitated leach plants, grid power supply, and established road access.
This technical report was prepared under the supervision of Austral Gold's Chief Geologist Marcos Valencia, Technical Services Manager Guillermo Valdés, and Metallurgical Process Manager Francisco Pavez, all of whom are qualified persons as defined by NI 43-101. The report has been submitted to ASX and SEDAR+.
