Steppe Gold (TSX:STGO) has launched its campaign on the Investing News Network’s resource channel.
Steppe Gold is a precious metals development company that owns two projects in Mongolia, the Altan Tsaagan Ovoo (ATO) and the Uudam Khundii (UK) gold projects. The company’s flagship ATO project is in the final stages of development, working towards an open pit heap leaching operation. Steppe Gold hopes to commence production in the coming months as the company completes construction and moves into the commissioning stage.
Steppe Gold’s UK gold project is a joint venture between Steppe Gold and the Bayankhongor Provincial Government. Steppe Gold has taken on 80 percent of the project while the government has taken on a 20 percent stake. An initial exploration program has been conducted on the project, including IP and magnetic surveys as well as chip and soil geochemical programs. Steppe Gold plans to continue to explore the project with an extensive drilling and trenching program in the latter half of 2019. The company continues to assess a number of additional opportunities across Mongolia.
Steppe Gold’s company highlights include the following:
- Near term gold producer in Mongolia.
- Initial capital cost of approximately US$20 million, average cash costs less than US$500/oz.
- Mine construction at ATO is currently under budget.
- US$23 million gold and silver streaming agreement with Triple Flag in place.
- Updated resource estimate and feasibility study underway for the larger fresh rock project underlying the current mining project at open cuttable depths. This larger Phase 2 Project would involve the construction of a grinding and CIL circuit and would have an expected life of mine of 12-15 years and an annual production profile that could reach ~150,000 ounces on a gold equivalent basis.
- Joint venture partnership in place for the UK project with the Mongolian government. Management has a proven track record of success in Mongolia. Initial capital cost of approximately US$20 million, average cash costs less than US$500/oz.