Properties

Aurizona Gold Mine

Aurizona will be a low-cost open-pit gold mine. 
Aurizona is a past-producing gold mine with significant infrastructure remaining at site. Trek released the results of the Aurizona feasibility study on July 31, 2017 and early works construction is underway, with the target of pouring gold at Aurizona by the end of 2018.

Download the report

Aurizona is our
near-term focus

Aurizona is our
near-term focus

Key Facts

  • Location: Northeast Brazil
  • Ownership: 100%
  • Access: Paved road from São Luis or Belem, airstrip 18km away
  • Property: ~ 2,250 km2
  • Mine Type: Open pit
  • Infrastructure: Dedicated power to site, local labour, company camp
  • Status: Past-producing mine (2010-2015)
    Feasibility complete, early works construction underway
    Gold pour targeted for year-end 2018
  • Capacity: 8,000 tpd
    136,000 oz gold per year
  • Estimated Costs: AISC $754/oz

Outlook

The July 31, 2017 feasibility study for the Aurizona Project outlines the design of an open-pit gold mine producing an average of approximately 136,000 ounces of gold per year with an initial 6.5-year mine life, for total life-of-mine production of 885,700 ounces of gold. All-in sustaining costs are estimated at $754/oz of gold produced, putting Aurizona in the lowest quartile of the industry average. Using a base case gold price of $1,250 per ounce, the project demonstrates strong financial returns with an after-tax internal rate of return of 34% ($1,350 per ounce: 42%) and a net present value using a 5% discount rate of $197 million ($1,350 per ounce: $254 million).

Exploration is currently underway with the objective of expanding the resource and reserve base and extending the mine life. Results to date confirm that gold mineralization persists below the westernmost reserve pit and extends at least 350 metres to the west.

The mine produced gold from 2010 to 2015 and significant infrastructure remains at site. All major mine elements are already in place, including a tailings facility and waste dumps, a dedicated power line, camp offices and accommodations, water, roads and communications. As a result, initial capital costs are estimated at $131 million, with life-of-mine sustaining capital estimated at $51 million.

Read the feasibility study news release

Aurizona Gold Mine - Piaba Open Pit

Feasibility study complete
Early works construction underway

Geology & mineralization

The current reserve and resource model for Aurizona outlines a 6.5-year mine life based on reserves identified in the Piaba and Boa Esperança pits. The mineralization is structurally controlled by subvertical, strike-slip shear zones occurring along significant lithological contact between metavolcano-sedimentary units and intrusive rocks. Host rocks are hydrothermally altered quartz diorite and plagioclase-quartz diorite rocks. The mineralization style is disseminated stockwork and vein-hosted sulphides and gold within a silicified shear zone.

While Trek is focused on restarting operations at the Aurizona Project, Trek intends to undertake both surface exploration and drilling, concurrent with construction and production. Management believes the mine life can be extended with exploration success, and drilling is underway to test high-priority drill targets that could extend mineralization up to 4.5 km to the west of the existing pit and extend the mine life.

Reserves & Resources
  • P&P Reserves: 971 koz @ 1.52 g/t gold
  • M&I Resources: 1.4 Moz @ 1.57 g/t gold
  • (inclusive of reserves)

See Aurizona's Reserves & Resources

Feasibility study
complete

The re-engineered mine plan for Aurizona includes an entirely new crushing and grinding circuit that will allow all known types of mineral bearing rock at Aurizona to be processed through the gold recovery plant. Processing capacity will also be increased from 5,500 tpd to 8,000 tpd. While the majority of the back-end of the processing plant is fit for use, the new mine plan requires upgrades to the power substation, a new mine fleet, and some upgrades to existing infrastructure, all of which is captured in the US$131 million initial capital cost estimate.