TSX Symbol: STGO Total Basic Shares O/S (M): 42.9 MATTHEW WOOD Chairman, President and CEO BATAA TUMUR-OCHIR Director and Vice President Mongolia ANEEL WARAICH Director and Executive Vice President PATRICK MICHAELS Director
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TSX Symbol: STGO
Total Basic Shares O/S (M): 42.9
MATTHEW WOOD
Chairman, President and CEO
BATAA TUMUR-OCHIR
Director and Vice President Mongolia
ANEEL WARAICH
Director and Executive Vice President
PATRICK MICHAELS
Director
DR. ZAMBA BATJARGAL
Director
LEWIS MARKS
Director
SHELDON VANDERKOOY
Director
CONTACT INFORMATION
THE COMPANY’S HEAD OFFICE:
Shangri-La office, Suite 1201, Olympic street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914
TORONTO OFFICE:
90 Adelaide Street. W, Suite 400 Toronto, ON
M5H 3V9,
Canada
Tel: +1 647 697 0577
TRANSFER AGENT:
Lori Winchester
Senior Relationship Manager, Client
Management
Phone: +1 416 607-7898
Cell: +1 416 671-4558
Email: [email protected]
Toronto, ON – Steppe Gold Limited (TSX: STGO) (the “Company” or
“Steppe Gold”) is pleased to announce the progress that has been
made over the last month at Altan Tsagaan Ovoo (“ATO”) Gold Project
in Mongolia.
HIGHLIGHTS
➢ The ATO development is progressing well with the project CAPEX remaining
under budget.
➢ The ATO crushing circuit is nearing construction completion and will be
moving into commissioning in the coming weeks.
➢ Heap leach pad construction is well underway with significant advances made over
the last month.
➢ Major ADR Plant equipment has been delivered to Mongolia with site works and
construction commenced.
➢ Bankable feasibility study for a proposed 150,000oz gold per annum operation on
fresh rock ores is ongoing.
➢ The Stage 3 drilling program on the ATO2 oxide zone has been completed with a
total of 14 drill holes for 752.3 meters.
➢ Infill drilling has now been completed over all known oxide mineralized deposits at
the ATO Project. This includes ATO1, ATO2, ATO3 and Mungu.
➢ SRK has completed a report on the structural aspects and additional targeting of
the ATO Project. This has delivered a number of new targets for immediate and
future drill testing. The first of these targets will be drill tested in the coming
month.
➢ The Stage 3 drilling program targeted at the ATO4-Mungu trend has commenced
with 8 drill holes being completed for 2,228.0 meters of drilling. All drilling rigs are
currently operating on the ATO4 – Mungu trend.
➢ Further visible gold has been seen from drill core on the ATO – Mungu trend.
Drilling results are pending.
DEVELOPMENT
The Company is pushing hard for a completion of site construction by
the end of 2018 with first gold in the first half of 2019. All materials for
the crusher and leach pad have been delivered to site and construction
is now underway.
CAPITALIZATION
BOARD OF DIRECTORS
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October 31, 2018
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The ATO crushing circuit is nearing construction completion with final work now underway. The crusher will be
commissioned initially on mined ATO1 ore in the coming weeks. This material will be used as over liner for the
heap leach pads and stacking of the pad should commence over the next month.
Heap leach pad construction is well underway with significant advances being made over the last month. Cell-1
is expected to be completed within the next two weeks and earthwork has now commenced on Cell-2.
Mining camp accommodation and restaurant is fully operational with 106 people on site.
The majority of the ADR plant equipment has been delivered to Mongolia and site works have commenced in
preparation for construction next week.
DRA Global has been appointed and has begun to manage and undertake a bankable feasibility study for the
construction and development expansion of the ATO Gold Project to 150,000oz gold per annum utilizing a CIL
plant for gold and silver production. The study will be based on existing fresh rock ores at ATO1, ATO2 and
ATO4, in addition to the potential being seen at the ATO4 – Mungu trend. This study is ongoing.
A selection of photos has been included below demonstrating activities on site:
Crusher construction
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Crusher construction
Barren & Pregnant Pond excavation
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Barren & Pregnant Pond excavation
Cell 1 Embankment lining
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Cell 1 HDPE lining
Cell 1 HDPE lining
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Cell 1 compaction
Cone Crusher construction
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Greg Wood, VP Operations, Grant Smith, GM Processing and Aruinbat Edenebataar, Senior Mining
Engineer on Cell 1
Cell 1 HDPE Lining continuing
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October 31, 2018
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Cell 1 HDPE lining continuing
ADR Plant topsoil removal