Olympias Project & Gold Sales
Au, Zn, Pb, Ag
Reserves (Proven + Probable): 3.6Moz Au, 52.0Moz Ag, 1.2Mt Pb + Zn
The Olympias project consists of a polymetallic massive sulphide deposit located 8 km north of the operating Stratoni mine. Hellas Gold has been selling gold concentrates from an existing stockpile on the property and has applied for the relevant permits to re-treat tailings and resume mining.
Hellas Gold plans to resume underground mining operations at Olympias after the necessary permits are awarded.
Project Highlights
- Existing mill, shaft and infrastructure
- Refurbishment plan commenced
- Phased development:
- Phase 1: Sale of stockpile cons
- Phase 2: Reprocess old tailings
- Phase 3: Ramp up to 900Ktpa + new gold plant (opportunity to accelerate)
- Market created for gold cons; 270,000oz still on surface in tailings
Reserves & Resources
| Reserves | '000t | Au | Au | Ag | Ag | Pb | Pb | Zn | Zn |
| Proven | 7,410 | 8.9 | 2.12 | 137 | 32.7 | 4.6 | 342 | 6.0 | 448 |
| Probable | 4,106 | 9.2 | 1.21 | 138 | 18.2 | 4.6 | 188 | 6.2 | 253 |
| Total (underground) | 11,515 | 9.0 | 3.33 | 137 | 50.9 | 4.6 | 530 | 6.1 | 701 |
| Proven Tailings | 2,408 | 3.4 | 0.27 | 14.3 | 1.1 | - | - | - | - |
| Total | 13,923 | - | 3.60 | - | 52.0 | - | 530 | - | 701 |
| Resources |
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| Measured | 7,403 | 10.3 | 2.46 | 148.4 | 35.4 | 5.0 | 367 | 6.7 | 494 |
| Indicated | 4,432 | 9.9 | 1.41 | 164.2 | 23.4 | 5.4 | 240 | 7.1 | 316 |
| Total (underground) | 11,835 | 10.18 | 3.87 | 154.4 | 58.8 | 5.1 | 607 | 6.8 | 810 |
| Measured Tailings | 2,408 | 3.4 | 0.27 | 14.3 | 1.1 | - | - | - | - |
| Total M&I | 14,243 | - | 4.14 | - | 59.9 | - | 607 | - | 810 |
| Inferred | 1,678 | 8.3 | 0.45 | 156.4 | 8.4 | 5.5 | 92 | 7.2 | 121 |
Existing Infrastructure
- Plant with capacity to crush, grind and float 400Ktpa
- Fully operational shaft from the surface to -312m level on the East Orebody
- West Ramp that provides access to the Upper and Mid West Orebody with connections to the East Orebody
- Surface workshops and offices
- Some access crosscuts to the West Orebody allowing immediate exploitation
- Underground crushing facilities and water pumping station
Geology
3D Orebody
Metallurgical Process
