Positioned as a Premier South
African Gold Mine Operator

A Strong Portfolio of Projects

Cradle Gold is advancing the shallow underground resources at the Middelvlei and ERPM projects to DFS and then production. Other opportunities that meet Cradle Gold’s shallow resource mandate are being evaluated.
ERPM
Middelvlei
ASIC:
< US$ 800/oz
Project

ERPM

Description
ERPM is a historic mine that opened in 1896 and operated continuously until it was closed in 2008. It produced 43 Moz of gold at an average recovered grade of 8.1 g/t. ERPM’s remaining deep underground resources are massively significant with > 51 Moz at an average grade of 7 - 8 g/t. 

Cradle Gold has identified significant shallow underground resources that were previously overlooked due to the lower gold price and ERPM’s high working costs.
The vast quantities of historic data have highlighted two primary shallow targets that meet our project criteria namely depth, grade and capital and operating cost efficiencies.

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Resources:

Underground = > 51 Moz (Indicated and Inferred). Shallow Underground = non-compliant est. 13 Moz

Depth:

Shallow Underground from 240m – 1200m

Life of Mine:

Shallow Underground >50 years

Production Forecast:

Conceptual mine designs on ERPM Target Area 1, completed during scoping by RHDHV, forecast annual steady state production of 50 000 oz per annum

Processing and Tailings Deposition:

Toll Treatment by DRD at Knights Plant

Definitive Feasibility Process and Drilling:

Confirmatory drilling and DFS are forecast to take 18 months from the date of commencement

Target AISC:

<US$ 800/oz
ASIC:
< US$ 900/oz
Project

Middelvlei

Description
Middelvlei open pit operations will ramp up to approximately 25 000 oz per annum to create early cash flows and the depleted pit will provide optimal access for the underground mine. The shallow underground mine will exploit two prolific gold reefs - the Ventersdorp Contact Reef (VCR) and Middelvlei Reef. Open pit production will exploit the Black Reef, VCR and Middelvlei Reefs with a maximum target depth of 70m. Mining commenced in June 2019.
The shallow underground resource on the VCR and Middelvlei Reef contains 1.3 Moz from the lower limit of the open pit to a depth of 900m below surface. Infill drilling to inform a DFS is scheduled to commence Q1 2020.

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Resources:

1.3Moz (Indicated and Inferred)

Depth:

<900m

Life of Mine:

>15 years

Production Forecast:

50 000 oz per annum

Processing and Tailings Deposition:

Toll Treatment by Sibanye-Stillwater at Cooke 4 Plant

Definitive Feasibility Process and Drilling:

Confirmatory drilling and DFS are forecast to take 12 months from the date of commencement

Target AISC:

<US$ 900/oz
Cradle Gold is focused on realizing the untapped and overlooked gold potential of the Witwatersrand Basin.
© Cradle Gold 2019
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