Business
Steppe Gold Limited Provides Development Update
TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Steppe Gold Limited (TSX: STGO) (the “Company” or “Steppe Gold”) is pleased to announce the progress that has been ma
About this update from Steppe Gold Ltd.
[{"type":"text","content":" TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Steppe Gold Limited (TSX: STGO) (the “Company” or “Steppe Gold”) is pleased to announce the progress that has been made over the last month at Altan Tsagaan Ovoo (“ATO”) Gold Project in Mongolia. HIGHLIGHTS The ATO development is progressing well with the project CAPEX remaining under budget. The ATO crushing circuit is nearing construction completion and will be moving into commissioning in the coming weeks. Heap leach pad construction is well underway with significant advances made over the last month. Major ADR Plant equipment has been delivered to Mongolia with site works and construction commenced. Bankable feasibility study for a proposed 150,000oz gold per annum operation on fresh rock ores is ongoing. The Stage 3 drilling program on the ATO2 oxide zone has been completed with a total of 14 drill holes for 752.3 meters. Infill drilling has now been completed over all known oxide mineralized deposits at the ATO Project. This includes ATO1, ATO2, ATO3 and Mungu. SRK has completed a report on the structural aspects and additional targeting of the ATO Project. This has delivered a number of new targets for immediate and future drill testing. The first of these targets will be drill tested in the coming month. The Stage 3 drilling program targeted at the ATO4-Mungu trend has commenced with 8 drill holes being completed for 2,228.0 meters of drilling. All drilling rigs are currently operating on the ATO4 – Mungu trend. Further visible gold has been seen from drill core on the ATO – Mungu trend. Drilling results are pending. DEVELOPMENT The Company is pushing hard for a completion of site construction by the end of 2018 with first gold in the first half of 2019. All materials for the crusher and leach pad have been delivered to site and construction is now underway. The ATO crushing circuit is nearing construction completion with final work now underway. The crusher will be commissioned initially on mined ATO1 ore in the coming weeks. This material will be used as over liner for the heap leach pads and stacking of the pad should commence over the next month. Heap leach pad construction is well underway with significant advances being made over the last month. Cell-1 is expected to be completed within the next two weeks and ear...