The FS incorporated an updated resource estimate for the Hammerdown deposit, which now totals 2.85 million measured and indicated tonnes grading 3.61 g/t gold (330,000 oz. contained) in pit. The inferred resource is 302,000 tonnes at 1.31 g/t gold (13,000 oz. contained).
The report gave the Hammerdown project an after-tax net present value of C$102.8 million (at 5% discount), with a 48.1% internal rate of return. The project’s initial capital cost is estimated at C$75 million, with C$4.9 million in net sustaining capital. Assuming a base case gold price of $1,750/oz., its payback period would be 1.7 years.
According to Maritime, the “attractive financial return profile” indicated in the FS enables the company to pursue mine life extensions and follow up on exploration opportunities – including the Orion deposit – within its 400 km2 land package.
“The completion of the Hammerdown gold project feasibility study is a…
