St Barbara lifts the 15-Mile gold resource by 20% to 2.5Moz, pulling in 436 historical drill holes. The group now holds 5.4Moz globally as permitting for the Nova Scotia hub gets underway. The pre-feasibility study targets 100,000ozpa over 11 years.
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St Barbara (ASX: SBM) lifted the mineral resource estimate at its 15-Mile processing hub in Nova Scotia by 5 million ounces, or 20%, to 2.5 million ounces contained gold. The group's global mineral resources now sit at 5.4 million ounces.
The new estimate is based on 62.4 million tonnes grading 1.2 grams per tonne. It incorporates a historical data package of 436 drill holes for 71,000 metres across the 15-Mile, Old Mitchell, and Old Austen mines. That data had not been included in previous estimates by St Barbara or former owner Atlantic Gold.
St Barbara completed a detailed validation of the historical data, comparing original and digital datasets, assessing sampling and analytical methods, and running umpire assays against more recent infill drilling. The addition of historical drilling and revised geological interpretations improved the company's confidence in mineralisation continuity at depth across all three mines. A total of 1,700 drill holes are now included in the model.
The resource update follows the start of the 15-Mile environmental permitting process with the Impact Assessment Agency of Canada. The project design basis for the initial submission aligns with a pre-feasibility study from January, which confirmed gold production of more than 100,000 ounces per year over at least 11 years based on proven and probable ore reserves.
St Barbara expects to submit an environmental assessment registration document and associated permits in the second half of the 2027 financial year. The company recently approved a final investment decision for the restart of the Touquoy processing plant at the 15-Mile site.
The 15-Mile processing hub involves the redevelopment of three mines with a combined six open pits, the Touquoy plant, a tailings management facility, and related infrastructure. Significant redesign work has been completed at Old Austen (formerly Beaver Dam) and Old Mitchell (formerly Cochrane Hill), incorporating engineering improvements and mitigation measures. The site has been redesigned to be the sole processing hub for ore from all three locations. St Barbara said the design changes reduced land disturbance by 23% despite an overall capacity increase for ore processing from Old Mitchell and Old Austen.
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