• June 22, 2023

Osino’s Twin Hills Gold Project: Definitive Feasibility Study Results Revealed

Published on June 22nd, 2023

The Twin Hills Gold Project is located within Namibia’s prospective Damara Orogenic Belt, in proximity to and along strike of the producing, open-pit Navachab and Otjikoto gold mines.


  • NPV of US$742m (pre-tax) and IRR of 34% at 5% discount rate and US$1750/oz gold price.
  • NPV of US$480m (post-tax) and IRR of 28% at 5% discount rate and US$1750/oz gold price.
  • At spot gold prices (US$1,950/oz) the project generates just under US$1.5bn of net pre-tax cashflows, demonstrating the strong margins, cash generation potential & economics of the project.
  • Overall capital cost of US$365m (incl. US$34m contingency & US$18m capitalised pre-strip) with a payback period of 2.2 years.
  • 13-year Life-of-Mine (“LOM”) and 5.0 million tonnes per annum (“mtpa”) design processing capacity.
  • LOM gold recovery of 92% utilising conventional 3-stage crushing, ball milling, gravity separation, pre-oxidation and CIL circuit plus filtration & dry-stack tailings deposition.
  • Responsible social and environmental design criteria have been key study elements and have been integral to design and project planning from the outset, contributing considerably to the robustness of the project.

VANCOUVER, British Columbia, June 12, 2023 (GLOBE NEWSWIRE) —  Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) (“Osino” or “the Company”) is pleased to announce the results of the definitive feasibility study (“DFS”) for Osino’s Twin Hills Gold Project (“Twin Hills“ or the “Project”), which is located in central Namibia and is being advanced rapidly through accelerated expansion drilling and fast-tracked development studies.

The DFS has been conducted using the updated Mineral Resource for the Twin Hills Gold Project prepared by CSA Global Mining Industry Consultants (“CSA”). The study complies with guidelines as defined within NI 43-101 Standards of Disclosure for Mineral Projects for a DFS, a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves and the estimates have been prepared by appropriately experienced and qualified, competent persons with a thorough knowledge of the operation.

Inferred resources were excluded from the pit optimisation runs and the Reserve statement and were classified as waste during the LOM production schedule runs. The deposit is a large, shallow gold deposit amenable to open-pit mining. The orebody will be mined as a conventional shovel and truck operation, with bulk mining augmented by more selective mining in areas with narrow ore zones.

The Whittle pit optimisation was run at a base gold price of $1,700 per ounce of gold and a 5% discount rate and included a 3% gross royalty and 1% export levy to the Namibian government.

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SOURCE: Osino Resources
DATE: 22 June 2023

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