Siana Gold Project
The Siana Gold Project is located on the island of Mindanao in the Philippines, within the Siana MPSA. The project is situated in the Surigao del Norte region in northern Mindanao, which is a highly prospective and established mining province.
Mining operations have been conducted at Siana since the early 1900’s, with major commercial underground mining conducted by Philippine company, Suricon Consolidated Mining Company, from 1938 to 1960 followed by open pit mining from 1980 to 1991.
The Siana Gold Mine had produced nearly one million ounces of gold prior to its acquisition by Greenstone Resources Corporation (Red 5 Philippines affiliated company) in 2003.
Following an extensive feasibility and permitting process, construction of a new open pit mining operation at Siana commenced in 2010, based on deepening the existing open pit by a further 100 metres.
The Company poured its first gold bar at Siana in February 2012, with the ore processed through a conventional modern 1.1 million tonne per annum gravity and Carbon-in-Leach processing plant located on-site to produce gold doré, which is then shipped for refining.
Following subsidence of a tailings dam wall and a period of redevelopment of tailings storage facilities, the Siana Gold Project resumed operations in January 2015 with a ramp-up to full production completed by mid-2015.
Mining from the open pit at Siana is expected to be completed during the 2017/18 financial year, transitioning to underground mining following completion of the open pit.
Near-mine and regional exploration activities in the area surrounding the Siana Gold Mine are also planned, with a focus on in-fill drilling of the Siana underground deposit, as well as exploration of the near-mine Dayano and Alegria prospects.