The Faina project is a new underground ore body located just west of the Company’s Turmalina mine within the MTL Complex. Lateral development reached the Faina ore body at the end of 2023 and first stoping is expected to occur in the second half of 2024 with ounce production beginning to increase from this point. The incremental production from Faina will fill existing capacity and increase the throughput of the processing facility at the MTL complex. Faina is expected to increase production at the MTL complex in the coming years and will ultimately eclipse production sourced from the Turmalina ore zones.
As production from Faina will be integrated with the Turmalina mine, the processing and mining cost of production will be shared, resulting in significant productivity gains.
Mined ore will be hauled through the Turmalina mine and be processed at the MTL processing plant, which includes crushing, grinding, leaching, elution and electrowinning, with the final product being electrolytic gold concentrate. Permitting for the Faina project is mostly complete and includes licences in process for new disposal areas for waste rock and the waste products from processing. The new disposal areas will guarantee the future processing capacity of the MTL complex and its continuity into the future.