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Steppe Gold Provides Development Update for Altan Tsagaan Ovoo Gold Project
TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Steppe Gold Limited (TSX:STGO) (the “Company” or “Steppe Gold”) is very pleased to announce the following development
About this update from Steppe Gold Ltd.
[{"type":"text","content":" TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Steppe Gold Limited (TSX:STGO) (the “Company” or “Steppe Gold”) is very pleased to announce the following development update towards initial production from its flagship Altan Tsagaan Ovoo Gold Project (ATO). ATO MINE DEVELOPMENT The Company remains under budget for the development of the ATO heap leach project. Over the past 10 months Steppe Gold has achieved major milestones including: The Company has received all land certificates for the ATO project area. Mining Contracts have been agreed with Mongolia’s leading operators. All mining contractors have demonstrated significant commitment and ability to establish their presence on site. The open pit mining contractor has now mobilized to site. Initial equipment includes a CAT 14H grader, CAT 330 Excavator, CAT D8 dozer and three Howo 30t trucks. Haul road construction and preparation for mining has now commenced. Knight Piesold have completed the detailed leach pad and ponds design. Earth work for Stage 1 which consists of two cells at 500m x 100m each will commence in late June 2018. All liner, piping and emitters have now been ordered with a total cost for the leach pad of approximately USD3 million to complete commissioning. All power will be supplied by CAT generators. The camp is run on a CAT C9 275kVA and DE110E2 as back up. Both generators have been fully paid for and commissioned, in addition to this the main power source for the ADR plant and crusher has been ordered consisting of a 1.2MW CAT3512B 2.0MW and a CAT 3516B for approximately USD800,000. The fuel station has been completed with a maximum capacity of 200,000 liters of diesel fuel, with initial 180,000 liters delivered to site. 200,000 liter fuel station The 3 stage crushing unit has been purchased and the unit is currently in transit to site. The mobile crusher has a maximum output of 300 tonnes per hour and will crush down to <25mm. Expected delivery date is late June. Crushing unit in transit to site ADR plant design has been completed. All equipment and installation material will be available from July 25th, 2018. Initial deposits have been made and a final payment of approximately USD1.3 million is due prior to delivery. A fully ...