Titan Minerals has announced that construction of the Vista Gold Plant and Mill located in Southern Peru is being completed on schedule and on budget.
The company is currently receiving ore material at the plant to establish stockpiles for initial testing and dry commissioning of the plant over the coming month.
Additional construction works for ancillary services continues at site, and the supporting infrastructure will be completed concurrently with the dry commissioning of the crushing and grinding circuits planned for the month of December.
The initial commissioning of the plant will also be completed concurrently with full safety reviews and environmental compliance inspections and commencement of commercial operations remains subject to timely receipt of all requisite permits and approvals for the Vista gold plant.
Titan has successfully accelerated the construction phase of the Vista plant since the acquisition of Andhina Resources (Andhina) with the Company benefiting strongly from the previous site development and previous permitting work (which can be in excess of a 3 to 4 year timeline in Peru) completed by Andina prior to acquisition of the assets by Titan. The Company also maintains the strong team that Andina built on over many years operating the Tulin Gold Plant and this team will now operate Vista for Titan.
Vista Gold Plant
When commissioned and fully licensed following requisite inspections, the Vista Gold Plant will have a nameplate capacity of 150 tonnes per day, more than tripling the operating capacity of the existing Tulin Gold Plant. At its nameplate capacity the plant can generate up to 90 ounces of gold per day based on monthly average grades of 17.5 g/t to 24.4g/t gold at the Company’s Tulin Plant over the past 6 months. The Vista Gold Plant has been both permitted and designed to increase its capacity to 350 tonnes per day with minimal capital outlay, and is readily upgradeable when warranted by supply of ore.
Once commissioned and licensed, the team intends to acquire and process high grade ore from licensed artisanal miners in the region and leverage on the Company’s presence and land holding within the >100km long Nazca–Ocoña metallogenic belt to define significant mineral resources for the company.
The company continues to assess opportunities in the prolific Nazca–Ocoña belt of Southern Peru to advance the Company’s mine development strategy, initiated with the acquisition of 100% ownership in the Torrecillas project, and the recent non-binding term sheet to acquire up to an 85% interest in the Las Antas gold project. The company is actively working toward permitting of priority targets for 2019 drilling.
Concurrent with planned growth of an in-house resource base, The acquisition of the Tulin Plant as part of the Andina Acquisition provides Titan with an experienced gold processing and plant development team, who bring a depth of processing knowledge, accompanied with a favourable repuatiation and dominant position to acquire ore in the region and grow Vista’s production profile in the short term.
In the medium term, the team is also well equipped to rapidly take advantage of any stand-alone mining opportunities discovered by the company, providing significant synergies to the group.
Source: Company Press Release