• Operations

Björkdal Mine

Property at a Glance

Location
Skellefteå, Sweden
Land Package
12,949 hectares
Mining Method
Long-hole stoping
Product
Gold (gravity and flotation)
2023 Production
42,148 Au oz
Life of Mine
9 years
Processing Capacity
1.45 million tonnes per annum

2024 Outlook

Production
Gold (oz)(1)
43,000 – 47,000
Cash Costs ($USD/oz)(2)
$1,270 – $1,390
All-in sustaining Costs ($USD/oz)(2,3)
$1,690 – $1,850
Capital Expenditures ($USDM)(4)
$20M – $24M
  • Notes
    • Assumes metal prices of: $1,860/oz, Sb $6,000/t. 
    • Cash and all-in sustaining costs are a non-IFRS measure
    • Capital expenditures includes exploration

2023 Performance

PRODUCTION
Gold (oz)
42,148
Cash Costs ($USD/oz)
$1,354
All-in sustaining cost ($USD/oz)
$1,749
Capital Expenditures ($USDM)
$27
  • Notes
    1. Björkdal Mineral Reserves are estimated using drill hole and sample data as of September 30, 2022 and depleted for production through to December 31, 2023.
    2. Norrberget Mineral Reserves are based on a data cut-off date of September 30, 2017.
    3. CIM (2014) definitions were followed for Mineral Reserves.
    4. Open pit Mineral Reserves for Bjorkdal are based on mine designs carried out on a December 31, 2022 resource model with a data cut-off date of September 30, 2022. A block dilution of 100% at 0.0 g/t Au was applied for blocks above 1.0 g/t and 100% at in-situ grade for blocks below 1.0 g/t, but above a cut-off grade of 0.39 g/t Au.  The application of these block dilution factors is based on historical reconciliation data from 2018 and 2019.  A marginal cut-off grade of 0.39 g/t Au was applied to estimate open pit Mineral Reserves.
    5. Open pit Mineral Reserves for Norrberget are based on 15% dilution at 0.0 g/t Au and a cut-off grade of 0.46 g/t Au.
    6. Underground Mineral Reserves are based on mine designs carried out on a December 31, 2022 resource model with a data cut-off date of September 30, 2022. Minimum mining widths of 4.07 m for stopes (after dilution) and 4.75 m for development (after dilution) were used. Stope dilution was applied by adding 0.6 m on each side of stopes as well as an additional 10% sidewall over break dilution.  An overall dilution factor of 25% was added to development design widths. Mining extraction was assessed at 95% for contained ounces of gold within stopes and 100% for development.  A cut-off grade of 1.00 g/t Au was applied to material mined within stopes. An incremental cut-off grade of 0.45 g/t Au was used for development material.
    7. Stockpile Mineral Reserves are based upon surveyed volumes supplemented by production data as of December 31, 2023.
    8. Mineral Reserves are estimated using an average long term gold price of US$1,800/oz for Björkdal underground mine. and US$1,600/oz for the Björkdal open pit and Norrberget.
    9. An exchange rate of 10.3 SEK/US$ has been used.
    10. Tonnes and contained gold are rounded to the nearest thousand.
    11. Numbers may not sum due to rounding.
    12. The Independent Qualified Person for the Björkdal Mineral Reserve estimate is Rick Taylor, MAusIMM (CP), Principal Mining Engineer with SLR, who is a Qualified Person as defined by NI 43-101.
  • Notes
    1. Björkdal Mineral Resources are estimated using drill hole and sample data as of September 30, 2022 and depleted for production through December 31, 2022.  Norrberget Mineral Resources are based on a data cut-off date of September 30, 2017.
    2. CIM (2014) definitions and the 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines were followed for Mineral Resources.
    3. Mineral Resources are inclusive of Mineral Reserves.
    4. Mineral Resources are estimated using an average gold price of $1,750/oz and an exchange rate of 9.3 SEK/US$.
    5. Bulk density is 2.74 t/m3 for veins and host rock. Bulk density is 2.92 t/m3 for skarn ore bodies.
    6. High gold assays were capped to 30 g/t Au for the Björkdal open pit mine.
    7. High gold assays for the underground mine were capped at 60 g/t Au for the first search pass and 40 g/t Au for subsequent passes.
    8. High gold assays at Norrberget were capped at 24 g/t Au.
    9. Interpolation was by inverse distance cubed utilizing diamond drill, reverse circulation, and chip channel samples.
    10. Björkdal open pit Mineral Resources are estimated at a cut-off grade of 0.36 g/t Au and constrained by a resource pit shell.
    11. Norrberget open pit Mineral Resources are estimated at a cut-off grade of 0.42 g/t Au and constrained by a resource pit shell.
    12. Underground Mineral Resources are estimated at a block cut-off grade of 0.82 g/t Au for all veins except the Aurora vein.  The Mineral Resources for the Aurora vein were constrained by reporting panels.
    13. A nominal 2.5 m minimum mining width was used to interpret veins.
    14. Reported Mineral Resources are depleted for previously mined underground development and stopes and exclude remnant material. 
    15. Stockpile Mineral Resources are based upon surveyed volumes supplemented by production data.
    16. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
    17. Numbers may not sum due to rounding.
    18. The Independent Qualified Person for the Björkdal and Norrberget Mineral Resource estimates is Reno Pressacco, M.Sc.(A)., P.Geo., Associate Principal Geologist with SLR, who is a Qualified Person as defined by NI 43-101.

2023 NI 43-101
2022 NI 43-101
2021 NI 43-101
2020 NI 43-101

© 2024 Mandalay Resources
All rights reserved.