Acquisition:
2013 / 02 / 14
Agreement:
Stream
Terms:
4.26% Au @ $220/oz; 4.26% Ag @ $5/oz; 0.42% Cu @ $0.50/lb
Heruga is a copper-gold porphyry deposit that is located at the southern end of the Oyu Tolgoi mining complex in southern Mongolia. The project is approximately 570 km south of the capital city of Ulaanbaatar and 80 km north of the border with China, and lies within the eastern end of the Paleozoic Tuva Mongol Arc. It is managed by Oyu Tolgoi LLC, a subsidiary of Rio Tinto Group and the Government of Mongolia.
The Heruga deposit differs from the three other Oyu Tolgoi deposits (Oyut, Hugo North, and Hugo South) in that it is slightly enriched in molybdenum. This forms a molybdenum-rich cap at higher levels overlying gold-copper mineralization at depth.
Underground development is underway at the Hugo North deposit and although Heruga is currently outside of the mine plan, it is included in the Alternative Production Cases in a 2016 Technical Report. It is expected to be mined in later phases by underground panel caving methods.
The Heruga Deposit has an Inferred Mineral Resource of 1,400 Mt containing 0.41% Cu, 0.4 g/t Au, 1.5 g/t Ag, and 0.01% Mo. The resources are effective as of March 31, 2021 and use a 0.68% CuEq cut-off grade.
