Golden Hills

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The 7,500 sq km Golden Hills property - aka Bayan Airag property- is located in the Central Valley Zone (CVZ), in the Aimag province of Zavkhan, northwestern Mongolia. The central part of the property is 140 kilometers due west of Uliastai, the capital of Zavkhan, and 900 kilometers west of Ulaanbaatar - the capital of Mongolia. A scoping study project defined a two-stage development plan for this project, with a total mine life of 15 years. The operation is envisioned to commence with open-pit mining of the gold-silver oxide resource followed by underground mining of the copper-gold-silver sulfide and high-grade quartz-telluride vein resource at CVZ. The capital plan assumes the use of contract mining services for both surface and underground mining. The CVZ deposit consists of three distinct mineralized types: gold and silver contained in near-surface oxide/gossan, copper-gold-silver contained in volcanic-hosted massive sulfide, and gold-silver contained in high-grade quartz-telluride veins.


Metals contained in each material type are extracted using different mining and beneficiation methods. The near-surface oxide resources are planned for extraction using open-pit mining methods and processing via agitated CIL leach, (4 year life). This phase I plan is followed by underground mining of sulfide and telluride mineralized materials and flotation/concentration of mineralized material into concentrate (11 year life). The processing plant reflects these two distinct processing phases, with the first phase (oxide) providing for construction of life-of-mine crushing and grinding circuits and including agitated vat leach circuits for gold-silver recovery. In year 5, the oxide leaching circuits are removed, salvaged, and replaced with flotation circuits to produce copper and byproduct gold-silver contained in concentrate for the remainder of the mine life. The oxide processing facility will be designed to treat 3,050 tpd of mineralized material through the common crushing plant (primary, secondary and tertiary crushers and screening circuit). Oxide material will be milled, classified in a cyclone circuit and pumped to a series of agitated leach tanks where the slurry will be processed for a total of 72 hours. Gold and silver doré bars will be produced on site and shipped to a smelter for further refining. The sulfide processing facility will be designed to treat 5,250 tpd of mineralized material and produce a copper concentrate with contained gold and silver bi-products. The grinding mill circuit will be a conventional ball milling circuit followed by floatation and regrind to produce a final 28% Cu concentrate product. Location Summary Nearest Landmark: ULIASTAI Distance from Landmark: 140Km Direction from Landmark: WEST Latitude: 47deg 47Min N Longitude: 94deg 54Min E Satellite Image: Click to View » Location Click to Enlarge Ownership Summary Name: Kerry Gold Mines Ltd. Interest: 100% Note: Public Reference:15 Feb 12