Name of the Project
Slivova gold/silver project.

Location
Kosovo.

Project Owner/s
Western Tethyan Resources (WTR), a subsidiary of Ariana Resources.

Project Description
A positive preliminary economic assessment has proposed the development of an operation with average production of 13 000 oz/y of gold over a seven-year mine life from a combined openpit and underground mining operation.

Results of extensive characterisation and testing of the Slivova ore using a range of methods suggest that carbon-in-leach (CIL) is the best-suited treatment. Some gold might be extracted using gravity recovery methods. Nominal plant throughput will be 142 000 t/y, with the primary, secondary and tertiary crushing of the ore, followed by ball milling to 106 mm and leaching of the ore using CIL methods. Loaded carbon is stripped, with electrowinning and final electric arc furnace smelting of the doré to bullion on site.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Slivova provides a conceptual pretax net present value, at an 8% discount rate, of $27-million and an internal rate of return of 29% at a gold price of $1 835/oz.

Capital Expenditure
Capital expenditure is estimated at $33.4-million.

Planned Start/End Date
Drilling activities are scheduled to start in the first quarter of 2024.

Latest Developments
WTR has formally acquired 51% of the Slivova gold project. The company is further on track to increase its interest to 75%. 

A three-hole diamond drilling programme targeting the extension of the Slivova deposit and the Dzemajl satellite mineralisation target zone has been completed.

Plans for the coming months include continued environmental sampling, drill plan preparations and the start of feasibility study work.

Ariana MD Dr Kerim Sener has said the project represents the “most advanced” gold project in Kosovo and that it is ready to advance towards a prefeasibility study stage.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Western Tethyan Resources, tel + 383 45 266 435 or email mentordemi@gmail.com.