The Bisha Mine is a large precious and base metal-rich volcanogenic massive sulphide (VMS) deposit located 150km west of Asmara, Eritrea, East Africa. Deposit mineralization consists of gold and silver oxides, in addition to copper and zinc massive sulphides.
The ≈$250 million Bisha Mine was constructed on-time and under budget from 2008 to 2010. Processing oxide ore, the mine produced low-cost gold-silver doré until mid-2013. Through a $110 million copper expansion project, also delivered on time and under budget, throughput expanded to 2.4 Mtpa supergene ore and the product switched to copper concentrate.
Zinc Expansion Project: In mid-2016, the flotation capacity will be expanded again to produce zinc concentrates in addition to the copper concentrates from primary ore. The budget for this project is ≈$89 million, fully funded from operating cash flow.
The Bisha Main deposit is located within the Bisha Mining License and the Harena satellite deposit lies in a separate Mining License 6 kilometers south, connected by a flat unsealed road. Bisha Main and Harena currently make-up 100% of the mineral reserves for Bisha. See a map of licensed areas below.
Photos of the project can be found here
Bisha Main and Harena Mineral Reserve Estimate
The Bisha Main deposit is a high grade VMS deposit. It is configured in three distinct layered zones - a 35 meter thick surface gold-silver oxide zone (mined out in mid-2013) immediately overlying a copper enriched supergene zone which itself overlies a primary sulphide zone containing both zinc and copper, and which remains open at depth.
Effective December 31, 2014. Please refer to February 3, 2015 news release for detailed assumptions pertaining to the reserve estimate.
Payable Production Profile Projections
Map of Licensed Areas
Bisha Technical Reports