Project: Spring Hill
|Operator||PC Gold Pty Ltd|
|Mine Type||Open pit|
Spring Hill Resources (JORC 2012)*
|Inferred Resource||8.8Mt @ 1.26g/t Au – 355koz|
Spring Hill Exploration Target
(in addition to Inferred Resource)
|Exploration Target||119koz – 734koz|
* Spring Hill Resources (See announcement dated 14 July 2020 for resource breakdown)
Trident entered into an agreement to acquire a variable gold price royalty (“Royalty”) over the production of the Spring Hill Gold Project located in Australia’s Northern Territory and operated by private group PC Gold Pty.
The Royalty rate applicable is:
- A$13.30 per ounce of gold sold from the project where AUD gold price is >$1,500/ounce
- A$5.70 per ounce of gold sold from the project where AUD gold price is <$1,500/ounce
Spring Hill is located within the highly prospective Pine Creek region in Australia’s Northern Territory, which has historically produced over 3Moz of gold across multiple deposits and contains more than 10Moz of undeveloped Resources. Gold contained at Spring Hill is freely leachable via conventional processing methods and contains a material proportion of gravity recoverable gold which is susceptible to low capital cost gravity concentration and leaching techniques.
Spring Hill has a JORC (2012) compliant open pit Inferred Mineral Resource Estimate of 8.79Mt grading 1.26g/t Au for 355,000 ounces of contained gold at 0.5g/t Au cut-off, as at January 2017. In addition, Spring Hill has an Exploration Target of 119,000 – 734,000 ounces supported by mineralisation open at depth and along strike.
The project is strategically located within 30km of an existing gold processing plant which successfully processed Spring Hill material in 2017.
The Spring Hill Gold Royalty will provide Trident with attractive exposure to a strategically located and growing gold asset. The asset is operated by an experienced team in a favourable jurisdiction for mining with the acquisition providing further scale and diversification to Trident’s growing royalty portfolio.