- 0115-Mile MRE up 20% to 2.5Moz; hub redesign cuts land disturbance 23%.
- 02436 historic holes added; 1,700 now in models.
- 03Permitting underway; approvals H2 FY27.
Gold producer St Barbara (ASX: SBM) has boosted the mineral resource estimate at its 15-Mile processing hub development in Nova Scotia by 5 million ounces (or 20%) to support the next phase of study work.
The project’s new estimate sits at 62.4 million tonnes grading 1.2 grams per tonne for 2.5Moz contained gold, lifting the group’s global mineral resources estimate to 5.4Moz.
It incorporates a historical data package of 436 drill holes for 71,000 metres across the 15-Mile, Old Mitchell, and Old Austen mines not previously included in resource estimates by St Barbara or former owner Atlantic Gold.
St Barbara has completed a detailed validation of the historical data including a comparison of original and digital datasets, an assessment of sampling and analytical methodologies, as well as comparisons of umpire assays with more recent infill drilling.
The addition of historical drilling and the revised geological interpretations have improved the company’s confidence in the continuity of mineralisation at depth at all three mines, with a total of 1,700 holes now included.
Environmental Permitting
The new resource estimate follows the start of the 15-Mile environmental permitting process between St Barbara and Impact Assessment Agency of Canada.
The project design basis for the initial submission aligned with a pre-feasibility study announced in January that confirmed gold production of more than 100,000ozpa over at least 11 years based on proven and probable ore reserves.
St Barbara continues to advance towards the submission of an environmental assessment registration document and associated permits in the second half of the 2027 financial year.
The company recently announced a final investment decision approval for the restart of the Touquoy processing plant at the 15-Mile mine.
Redevelopment Project
The 15-Mile processing hub involves the redevelopment of the three mines, which feature a combined six open pits, the Torquoy plant, a tailings management facility, and associated infrastructure.
Significant redesign work has been completed at the Old Austen (formerly known as Beaver Dam) and Old Mitchell (formerly Cochrane Hill) mines incorporating extensive engineering improvements and mitigation measures.
The 15-Mile site has been redesigned to be the sole processing hub for ore from the three locations.
St Barbara confirmed the design changes have resulted in a 23% reduction in land disturbance despite an overall capacity increase for the processing of ore from Old Mitchell and Old Austen.
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