Following completion of the drilling programme, a resource update and Preliminary Economic Assessment was completed in July 2015.
Metallurgical tests produced excellent gold recoveries in excess of 94%. Nordgold invested US$10 million in technical, environmental studies and fieldwork for the project.
Lycopodium was contracted to undertake a Bankable Feasibility Study (BFS) and NI 43-101 Technical Report. The objective of the BFS was to provide a definitive detailed economic appraisal of the Montagne d’Or deposit, to enable Nordgold and Columbus Gold to make an informed construction decision. The BFS report was used for permitting and to support bank financing.
Lycopodium’s scope of works produced a complete BFS and NI 43-101 report that met the International Finance Corporation’s (IFC) equator principle requirements.
Nordgold continues to engage Lycopodium to support ongoing permitting requirements for Montagne D’Or.