GOLD: Construction update for Continental’s Buritica project

COLUMBIA – Toronto-based Continental Gold says its Buritica gold project in Antioquia is on schedule. The first gold pour will take place in the first half of 2020, followed by a six-month ramp-up period. [caption id="attachment_1003725833" align="alignleft" width="300"] Raise boring in the Yaragua vein at the Buritica gold project in Colombia. (Image: Continental Gold)[/caption] The company reports that construction is 44% complete, and underground development is also 44% complete. So far 6,274 metres have been finished ahead of schedule. Detailed engineering is 93% done. The processing plant earthworks are 76% complete with mechanical installation to begin in early 2019. The powerline is being installed for completion in early Q3 2019. Buritica has been a very small, 30-t/d mine operated by Continental for over 20 years. The mine is being transformed into a high grade underground gold mine for a capex of $500 million (give or take $25 million). The initial mining rate will be 2,100 t/d, but that will ramp up to 3,000 t/d by year three. Gold recovery will be achieved by crushing, SAG milling in closed circuit with a pebble crusher and ball mill. Both the SAG and ball mill discharge will feed a gravity circuit. The gravity tails will be cycloned and the underflow leached in agitated tanks. Leached slurry will be thickened, and sent to a Merrill Crowe circuit to recover the gold. Continental is working on an updated mineral resource estimate due in Q1 2019. An updated mine plan with follow shortly after. The feasibility study is posted at www.ContinentalGold.com.