CSH Gold Mine
The CSH gold mine is one of China's largest open pit gold mines.
Project Overview
- A conventional open-pit, heap-leach, gold-mining operation
- Mining a large, bulk-tonnage, low-grade gold deposit
- Located in Inner Mongolia of China, approximately 210km northwest of the city of Baotou
- Principal product: Gold dore bars with silver as a by-product
- Well-established basic infrastructure with excellent access to road and sufficient supplies of power, water and local labor force
Recent Updates:
2025 Q3 Financial Performance Snapshot
- Gold production at the CSH Mine decreased by 18% to 22,303 ounces for the three months ended September 30, 2025 compared to 31,213 ounces for the same period in 2024. The total production cost of gold for the three months ended September 30, 2025 increased to US$1,689 per ounce compared to US$1,594 for the same period in 2024. The cash production cost of gold for the three months ended September 30, 2025 increased to US$1,247 per ounce from US$974 for the same period in 2024.
2025 Q3 Production Update
- For the three months ended September 30, 2025, the total amount of ore placed on the leach pad was 2.4 million tonnes, with total contained gold of 19,903 ounces (619.1 kilograms). The overall accumulative project-to-date gold recovery rate remained consistent at approximately 56.47% at the end of September 30, 2025 from 56.40% at the end of June 30, 2025. Of which, gold recovery from the phase I and phase II heap leach pads were 59.77% and 54.31% at September 30, 2025, respectively.
Mineral Resource Update
CSH Mine Mineral Resources by category, at December 31, 2024 under NI 43-101 are listed below:
Note:
Mineral Resources are reported in relation to a conceptual open-pit mining and underground block caving mining. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. Raw assays have been capped. Mineral Resources include Mineral Reserves. Mineral Resources are reported at a cut-off grade of 0.28 g/t Au for open-pit mining, based on the following parameters; the heap leaching & metallurgical recovery of 60% and gold bullion market price of USD 1,980 per ounce. Additional Mineral Resources are reported at a cut-off grade of 0.30 g/t Au for underground block caving mining, based on the following parameters: the heap leaching & metallurgical recovery of 60% and gold bullion market price of USD 1,980 per ounce. USD 1.0000=RMB 6.3457 dated in April 2022, and one troy ounce is equal to 31.1035 grams. Resource Estimate by CGME Consulting Limited on August 19, 2022 and updated by Tony Guo, MMSA(QP), a qualified person as defined by NI 43-101.
Mineral Reserves Update
CSH Mine Mineral Reserves by category at December 31, 2024 under NI 43-101 are summarized below:
Click here for 2025 Q3 news release
LOOKING FORWARD:
Exploration
The CSH Gold Mine conducted a drilling program from May 16th 2024, and completed a total of 3308.11 m which takes up 92.40% of the total planned 3589.0 drilling meters by the first quarter of 2025. Currently, DDH9400-5 and DDH9200-4 have completed, DDH9200-3 was designed to be 1,380 meters, and 1,115.01 meters have been completed, which is 80.79% of the planned drilling meters. Due to severe winter weather, at the mine site, the drilling program was suspended during December 15, 2024 to March 12, 2025. The drilling program resumed on March 13, 2025 and completed on May 13, 2025. The 2024 geological exploration program is now complete with a total of 3,589.0 drilling meters.
Guidance Highlights for 2025:
- The open-pit operations at the CSH gold mine are nearing the end of its mine life. With the CSH pit’s increased depth, the stability of the open pit slopes is becoming more and more prominent in determining the operations plan. Ensuring slope stability and avoiding systematic risks at this stage are the Company’s top priority to ensure safe and sustainable production.
- It is expected that the gold production range will be 77,162 ounces to 83,592 ounces (approximately 2.4 tonnes to 2.6 tonnes) in 2025.
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