Austral Gold (ASX:AGD) has outlined an approximately 14-year mine plan and US$192.1 million ($273.9 million) after-tax net present value (NPV) for its Guanaco Mine in Chile’s Antofagasta Region.
The 2026 technical report, effective 31 May, establishes a life-of-mine plan from January 2026 to February 2040. It updates and supersedes Austral’s 2022 report.
Mineral reserves total 18.1 million tonnes (Mt) @ 0.84 grams per tonne gold (Au) and 5.43g/t silver (Ag), with estimated recoverable metal of approximately 352,000 ounces Au and 1.49 million ounces (Moz) Ag.
The plan comprises open-pit extraction from the Dumbo, Defensa, Perseverancia, Quillota, and Inesperada pits from mid-2028 to 2040, alongside reprocessing of three legacy heap-leach pads from 2026 to mid-2032. No underground mining is included.
CEO Stabro Kasaneva says the plan uses Guanaco’s existing permitted processing facilities and operating infrastructure, although parts of the mine plan remain subject to outstanding permits.
“We believe that one of Guanaco’s key competitive advantages is that this approach reduces execution risk and capital intensity compared with a greenfield development, allowing the Company to focus capital on value-generating mining activities rather than on major infrastructure projects,” Kasaneva says.
The after-tax NPV applies a 10% discount rate and life-of-mine average prices of US$3,135-per-ounce Au and US$42/oz Ag.
Approximately 5.9Mt of reserves at Inesperada and parts of Dumbo remain subject to environmental approval. These areas represent 32% of reserve tonnes, approximately 53% of recoverable reserve Au, and 55% of recoverable reserve Ag.
Austral says it is targeting approval of the environmental impact declaration and associated permits in the December quarter of 2026 or March quarter of 2027. However, the company cautions there is no certainty the approvals will be received within that timeframe or at all.
Write to France Pinzon at Mining.com.au
Images: Austral Gold
