Geologia, Desenvolvimento e Viabilidade Econômica do

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Geologia, Desenvolvimento e Viabilidade
Econômica do Projeto Tocantinzinho
(Provincia Aurífera do Tapajos, PA)
SIMEXMIN May 22nd 2012
Kişladağ mine, Turkey
Eastern Dragon, China
Tocantinzinho,
Brazil
Efemçukuru
TZ,mine,
BrazilTurkey
Perama Hill, Greece
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www.eldoradogold.com
Jinfeng, China
Tocantinzinho
Kişladağ, Turquia
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ELDORADO GOLD
CORPORATION
Canada
BRAZAURO
RESOURCES
CORPORATION
CANDALARIA
HOLDINGS LTD.
BRAZAURO
RECURSOS
MINERAIS LTDA
UNAMGEN
MINERAÇÃO E
METALURGIA S/A
Brazil
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4
Market Cap US$ 9.6 B (May 5th 2012)
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Tocantinzinho region US$ 11.4 M
Project generation
US$ 2.6 M
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Acesso de Moraes de Almeida à
Tocantinzinho
Extensão: 102 km
Investimento: US$ 16 milhões
LT de Novo Progresso à
Tocantinzinho
138 kV – 25 MW
200 km
Investimento de US$ 32 milhões
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8
Batalha
Bom Jardim
Cuiu-Cuiu
Tocantinzinho
Ouro Roxo
Piranhas
Agua Branca
Palito
30 Km
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Paruari
Fluids
1
1
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Tapajos Land Position
110.000 ha Land position (TZ, AB, PI)
400.000 ha Applications
Tapajos Overview
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TZ Drilling
Tocantinzinho Camp
TZ Logistics
TZ Hidrological
Study
Efemçukuru
TZ,mine,
BrazilTurkey
Total Exploration Expenditure: US$ 50,200,000 (US$ 90M at 5%/year)
Current resources:
2.4 Moz@1.06 g/t (US$ 20-35/resource oz)
Total drilling:
Core samples:
Soil samples:
Auger samples:
Metallurgical samples:
Geophysics (IP):
70,100 m
39,600
5,600
2,900
1,300
45 Km
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Tocantinzinho
Tocantinzinho Deposit




Granite-hosted, intrusion-related, disseminated, low grade/bulk tonnage gold deposit
M&I resource of 2.4 million ounces @ 1.06 g/t gold
Regionally, mineralization associated with NW-trending Tocantinzinho Trend
On a district scale, mineralization occurs in a structurally favorable site in the periphery of
the nearby Maloquinha intrusion
2011-2012 Program


Exploration efforts focused on targets peripheral to deposit, within ~5km radius
Focused on Tocantinzinho Trend and geophysical/geochemical targets
2011 Work Completed





17,270 metres of diamond drilling in 56 holes
2,800 metres of auger drilling in 146 holes
3,000 soil samples covering 47 km2
800 metres of tailings delineation drilling in 57 holes
Total Expenditure of $11.4M for 2011
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 Mid 80’s to mid 90’s: Intense garimpo activity.
1997-1998: ALTORO’s soil, auger and channel sampling:
- NW trending >200 ppb Au soil anomaly with 1,000 x 500 meters;
- Channels intercepts 38 m @ 2.68g/t Au
2004: Jaguar Resources started a drilling program:
- DDHoles 01 and 04 discovered the Tocantinzinho
- Intercepts 91.90m @ 1.01g/t and 170.20m @ 1.84g/t Au
2008: Eldorado Gold starts acquisition of Brazauro and become a partner in
Tocantinzinho Project (Resources around 1 Moz)
2010: Eldorado completes acquisition of Brazauro
2008 to 2011: Exploration increased Resources from 1 Moz to 2.4 Moz
 2015 Production
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Vista geral
Acampamento
Escritório
Descrição de testemunho
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Sondagem
10 Km
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Tocantinzinho Workings/ Tailings
Deposit Footprint

Tailings average 7.3m
depth

Better grades from grab
samples returned 1-4 g/t
500m
Tocantinzinho
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Magnetics - 1st Vertical Derivative
Tz
?
Parauari
Maloquinha
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TZ fault
structure
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Main fault/shear
coredor
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Veinlets
(quartz+chlorite+sulfides)
Shear zones
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Hydrothermal Alteration
K, Si, Chlorite, Sulfides (Py,Cpy, Ga, Sp)
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Stress/Strain Kinematic Framework
N
X
1.
Z
1
Tension gashes
(qz veinlets)
1
2.
3.
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Mineral Resources
Classification
Tonnes
Grade g/t Au
Ounces
Measured
19,777,000
1.29
820,000
Indicated
50,457,000
0.97
1,574,000
Measured and Indicted
70,234,000
1.06
2,394,000
Inferred
6,950,000
0.66
147,000
Mineral Reserves
Classification
Tonnes
Grade g/t Au
Ounces
Proven
17,735,000
1.39
792,000
Probable
31,315,000
1.17
1,183,000
Proven and Probable
49,050,000
1.25
1,975,000
Cut-off grade
0.49 g/t
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3D Resource model
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Production Data
Total Ore Mined
49.05 MT @ 1.25g/t
Total Reserves
1,98Moz
Total gold Produced
1,78Moz
Mine Throughput
4,4 MT/Yr
Life of Mine
11 Years
Average Annual Gold Production
159 Koz
Metallurgical Recovery
90.1%
Average Strip Ratio (w:o)
3.27:1
Operating Cost/Tone Ore
Mining
Processing
G&A
Total Operating Cost/Tone Ore
Cost per
Ounce
Produced
$7.09/Tonne
$195.34
$11.16//Tonne
$307.45
$2.06/Tonne
$56.62
$ 20.31/Tonne
$ 559.41
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Financial Gold Price Sensitivity Analysis
Gold Price /Oz
$1,000
$1,250
$1,500
Net Cash Flow
$177.7 M
$464.1 M
$750.5 M
NPV @ 5%
$2.9 M
$187.2 M
$371.5 M
IRR
5.12%
11.79%
17.35%
Gold Price Sensitivity Analysis with IRPJ Tax Incentive
Gold Price/Oz
$1,000
$1,250
$1,500
NPV @ 5%
$36.9 M
$269.6 M
$952.7 M
IRR
6.45%
14.36%
20.88%
Development Projects
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Geologia, Desenvolvimento e Viabilidade Econômica do

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