Titan has received Environmental Impact Assessment (“EIA”) permit approval from the Direccion Regional De Energia Y Minas (The Regional Energy and Mines Institute, or “DREM”), the plant is now ready for physical inspection of the fully operating plant by the DREM for the issue of an Operator’s permit, which is anticipated to take a minimum 10 days to complete. Once the Operator’s permit is received the plant will then be fully permitted and licenced to commence commercial production with anticipated completion of commissioning over the coming month.
Titan has successfully accelerated the construction phase of the Vista plant in the second half of 2018 since the acquisition of Andina Resources Ltd (“Andina”) (refer to ASX release dated 12 July 2018) with the Company benefiting strongly from the previous site development and permitting work (which can be in excess of a 3 to 4 year timeline in Peru) completed by Andina. The Company also now maintains the experienced gold processing and plant development team Andina built over many years operating. This team will now operate Vista for Titan and bring a depth of processing knowledge, accompanied with a favourable reputation and dominant position to acquire ore in the region and grow Vista’s production profile in the short term through acquisition of high grade ore from licensed artisanal miners in the region.
The Vista Gold Plant will have a nameplate capacity of 150 tpd and can generate up to 90 ounces of gold per day based on monthly average grades ranging from 17.5 g/t to 24.4g/t gold as achieved in the Company’s previous production from May through November 2018. The Vista Gold Plant has been both permitted and designed to increase its capacity to 350 tonnes per day with minimal capital outlay, and is readily upgradeable when warranted by supply of ore.
In the medium to long term, the integrated process and exploration team intends to provide additional growth to Vista’s production profile by leveraging on the Company’s presence and landholding within the >100km long Nazca–Ocoña metallogenic belt to define significant mineral resources for the Company. Titan continues to assess opportunities to advance the Company’s mine development strategy, and is actively working toward permitting of priority targets for 2019 drilling.