Fenix shall be a big, gold oxide heap leach operation with a measured and indicated useful resource of 398.2 million tonnes at a grade of 0.38 g/t gold, containing virtually 4.8 million oz. of gold. The inferred useful resource is 90.8 million tonnes at 0.33 g/t gold, containing 959,000 oz.
With the mandatory permits in hand, Rio2 can full its debt and fairness financing for development, stated president and CEO Andrew Cox.
Rio2 says Fenix will want an funding of C$316.8 million ($235 million) for each preliminary and sustaining capital. The undertaking will make use of at the least 1,200 folks throughout development and 800 folks throughout a 17-year operational part.
A run-of-mine heap leach is deliberate, so no crushing or tailings storage services are required.