This study examines the economic viability of the Sabi gold deposit (oxide cap), based at Zvishavane, about 400 km south of Harare in Zimbabwe. A detailed examination of the technical and economic factors which can affect the viability of a mineral project was undertaken using sensitivity analysis. The analysis revealed that eight variables: grade of the ore, annual production rate, preproduction rate, preproduction period, operating cost, mill recovery efficiency, inflation, the price of gold and the project discount rate are sensitive and their changes could significantly affect the project viability. Risk analysis, using the Monte Carlo simulation technique on the probable sensitive variables, was carried out. It was established that the probability of the project failure is 29%.