Tokko was discovered by Nordgold in 2019 as a result of successful exploration in the Gross Region and today it has the potential to become Nordgold’s third low-cost mine with expected annual gold production of approximately 220 thousand ounces (2025 — 2030 average).
The NI 43-101 compliant Preliminary Economic Assessment for Tokko was completed in 2021 and demonstrated the potential to develop the Tokko project by two, low cost open-pit operations with two valley-fill, all season heap leach facilities at a low initial capital cost to deliver a Base Case after-tax net present value of approximately US$ 653 million and after tax net internal rate of return of approximately 29.5%.
The Tokko project includes two gold deposits, Tokkinskoe and Roman, located 13 km to the west of Nordgold’s Gross and Taborny mines in the southwest of the Republic of Sakha (Yakutia), Russia.
Mineral Resources of 3.6 Moz were estimated for Tokko project. This estimate consists of 1.3 Moz of Mineral Resource (Indicated 523 koz, Inferred 782 koz) for the Tokkinskoe deposit as at 1 December 2020 and 2.3 Moz of Inferred Resources for the Roman deposit as at 15 December 2020.
Nordgold expects to complete a Tokko feasibility study and receive the necessary permissions to prepare the project for construction in 2022-2023, with commissioning expected in 2024.