Project Overview
The Kurmuk Project is an advanced stage development project in the Benishangul-Gumuz region of western Ethiopia, approximately 750km east-north-east of the capital, Addis Ababa and 65 km north-northwest of the town of Asosa. The current project design encompasses the Dish Mountain and Ashashire deposits, with numerous exploration targets across the Kurmuk Project’s expansive 1,450 km² exploration territory.
The Kurmuk deposits are classified as mesothermal lode gold deposits that are a product of crustal thickening and deep, late-stage metamorphism. The deposits are hosted within the Neoproterozoic volcano-sedimentary Tulu Dimtu shear belt of the Arabian-Nubian Shield at the northern extremity of the East African Orogen. It is characterised by a sequence of metasedimentary rocks interspersed with mafic to ultramafic volcanic and intrusive rocks. Gold mineralization at Dish Mountain is associated with late-stage, discordant extensional 1 m to 10 m stacked quartz, dolomite, and pyrite veins and their adjacent dolomite-muscovite-pyrite altered selvedges, enveloped by broad dolomite muscovite alteration haloes. Ashashire’s gold mineralization is characterised by intense muscovite-dolomite-pyrite alteration adjacent to the mineralised veins, with a proximal to distal intense carbonate alteration halos.
Both deposits will be mined by open-pit methods, encompassing drilling, blasting, loading, and hauling operations. A conventional 6 Mtpa CIL plant is planned to process the mineralized material at Kurmuk. The Tailings Storage Facility (TSF) has been designed as a valley impoundment with multi-zoned, earth-fill embankments
Stream Details
| Date of Contract |
05-Dec-24 |
| Term |
Life of Mine |
| Stream |
6.7% of the Au until 220 Koz, then 4.8% of the Au for life of mine. |
| Upfront Consideration |
$175M |
| Per Unit Production Payment |
15% of spot price of gold |