The Deflector mine is a gold-copper-silver deposit located in South Murchison, Western Australia and is 100% owned by Doray Minerals Ltd. (ASX:DRM). The Deflector project has a JORC-compliant reserve of 1.8 million tonnes at 5.6 grams per tonne (g/t) gold, 6.3 g/t silver and 0.9% copper and is expected to produce 60,000 ounces of gold per year over a six year mine life. Production will begin from an open pit operation and expand underground, with ore being processed through the existing Gullewa processing facility. The facility will be upgraded to include a floatation circuit as well as a revamped mill and gravity circuit. Doray Minerals is working towards raising the development capital needed to advance Deflector to production.
DEFLECTOR GOLD STREAM
Sandstorm has a gold stream agreement to purchase 2.6% of the life of mine gold produced from Deflector for a per ounce cash payment equal to the lesser of US$500 and the then prevailing market price of gold. Sandstorm made an upfront payment of US$6 million to acquire the stream.