Vista Gold plans to reopen the Mount Todd Gold Mine, located approximately 55 kilometres North of Katherine, and 250 kilometres southeast of Darwin. The development includes expansion and deepening of the Batman Pit, expansion and increase in size of the waste rock dumps and the existing tailings storage facility, construct a new tailings storage facility, water treatment facility and a gas power station.
Vista plans for the operation to be community based with the workforce to be encouraged to live in Katherine. Being community based has a significant benefit in its operational cost.
The projects total proven and probable reserves 221Mt @ 0.82g/t Au using a cut-off grade of 0.4g/t Au. The measured and indicated resources total 297Mt @ 0.82g/t Au (including the proven and probable reserves).
The project has a two year build, 13 year mine life and four year decommissioning phase.
The proponent has all the appropriate land tenure for the project. It is currently progressing approvals to commence mining.
Environmental assessments have been completed under Northern Territory and the Australian Government legislations.
On 2 March 2018, Vista updated its Preliminary Feasibility Study. The study supported the projects feasibility. Optimisation work continues on grind size, energy usage and gold recovery, using leading edge off-the-shelf technology.
Final investment decision is expected by the end of 2019.
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