TriStar Gold CEO Nick Appleyard is excited to share how the company’s Castelo de Sonhos gold project in Brazil is progressing.
Editor’s note: This article incorrectly stated that the Castelo de Sonhos gold project is in South Africa. It has been updated to reflect that it is in Brazil. We apologize to TriStar Gold for this error.
Tristar Gold CEO: Milestone Reached for the Castelo de Sonhos Gold Project in Brazilyoutu.be
TriStar Gold (TSXV:TSG,OTCQX:TSGZF) CEO Nick Appleyard is excited to share how the company’s Castelo de Sonhos gold project in Brazil is progressing.
“It’s a big milestone for us. I took over TriStar in December 2015 and we had 280,000 ounces on the books then. We have now just published our prefeasibility study: 1.4 million ounces of reserves and some compelling economics to go along with that. We’re super excited right now that it’s coming to fruition,” said Appleyard.
TriStar Gold, GE21 Consultoria Mineral of Belo Horizonte, Brazil, and Piteau Associates of Sandton, South Africa, have completed the prefeasibility study for the Castelo de Sonhos gold project in southern Pará state, Brazil. The results of the study also include an updated mineral resource estimate.
According to Appleyard, the study revealed that the project is broken into two phases, even though it’s one original deposit. Phase one has all-in sustaining costs US$50 lower than the average US$850 an ounce rather than US$900 for the life of mine.
“That’s where we’re clearly making a lot more money. That’s the first six years producing 150,000 ounces of gold a year. Is there any gold in that area at that grade under those conditions that can allow us to extend phase one from six years to eight years to 10 years? The answer is yes. We think there is. We’re going to go after it and try and extend that, which is the high-margin material.”
Watch the full interview of TriStar Gold CEO Nick Appleyard above.
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