GORNO
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.
The company 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 US$67 million during the 2026-2031 production period.
Project highlights
High-quality asset
Gorno has the potential to become a long life, strategic asset located in the heart of European metal consumption.
Low-cost restart
Established infrastructure & logistics with well developed UG and surface access.
Developing Gorno
Exploration program for Gorno Mineral Resource growth and targeting a de-risked development decision leveraging off existing technical studies, aiming for production Q1 2024.
Regional support
Supportive local communities and regulators in an industrialised area with extractive industries nearby.
Uniquely positioned in Italy
Historical operation, idle since 1982, Gorno will be Italy’s first metal mine in 40 years
Located within historic high-grade zinc and lead mining province
Close proximity to national rail and port infrastructure for distribution to off-takers
Significant organic upside with scalable production and low capital intensity
Local skilled labour market, also established fabrication and service providers
Low technical, geological, financial and jurisdictional risk
