Gorno has the potential to become a new globally significant zinc district with a long life of mine, located in the heart of European metal consumption, supplying much needed high grade and clean zinc and lead concentrates.
Altamin completed a scoping study in November 2021 which estimates an approximate total production target of 6.0 million tonnes containing 77% indicated and 23% inferred mineral resources at or above a cut-off grade of 3.5% zinc equivalent at an annual mining rate of 800,000 tonnes over the proposed nine-year Life of Mine.
The study also identified a Post-Tax NPV of US$211M, a Post-Tax IRR of 50%, and Initial Capital Expenditure of US$114M. Annual free cashflow is expected to average about $67 million during the 2026-2031 production period.
Gorno has the potential to become a long life, strategic asset located in the heart of European metal consumption.
Established infrastructure & logistics with well developed UG and surface access.
Exploration program for Gorno Mineral Resource growth and targeting a de-risked development decision leveraging off existing technical studies, aiming for production Q1 2024.
Supportive local communities and regulators in an industrialised area with extractive industries nearby.