| Announcement Date: | 2021-12-01 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | Steppe Gold Ltd. |
| Project name: | Altan Tsagaan Ovoo |
| Location: | Mongolia |
| Commodities: | Gold,Silver,Lead,Zinc |
| Highlight: | Feasibility Study results incl. post-tax NPV (5%) of US$232M & IRR of 67% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Following the successful completion of its Altan Tsagaan Ovoo (ATO) Phase 1 development and on-going crusher upgrades located in eastern Mongolia, Steppe Gold LLC (Steppe Gold or the Company) initiated studies for the ATO Phase 2 Expansion Project (the “Project”). The Phase 2 Expansion which is the subject of this Technical Report (“Report”), will expand gold production and produce saleable concentrates of lead, zinc, and pyrite from the development of underlying fresh rock ores and the construction of a new and larger conventional processing facility. The ATO Project is 100% owned by Steppe Gold, an international mineral resource company headquartered in Toronto, with exploration, development and production properties located in Mongolia. Steppe Gold is listed on the Toronto Stock Exchange under the symbol STGO. In 2017, an NI 43-101 Technical Report was prepared for Steppe Gold and Centerra Gold (Centerra) (the previous ATO Project owner) by the Mongolian company GSTATS Consulting LLC for Phase 1 of the ATO Project. In 2020, Steppe Gold completed the construction and commissioning for Phase 1, which consisted of an integrated oxide ore heap leach production facility which now produces 60,000 oz of gold annually. |
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