The company has already begun preparing its formal application to obtain the terms of reference, a key first step toward advancing the Romero project towards the feasibility and environmental and social impact assessment (ESIA) stages.
GoldQuest first announced the Romero discovery in 2012, when drilling return promising results that included 2.4 grams per tonne gold, including 160.3 metres grading 2.9 g/t gold and 0.62% copper. That drilling led a to a first mineral reserve estimate totalling 840,000 oz. gold, 980,000 oz. silver and 136 million lb. copper.
In 2016, GoldQuest completed a pre-feasibility study for the proposed 2,800-tonne-per-day underground mine that focused on the high-grade gold and copper “core” of the Romero deposit. The PFS outlined an eight-year operation with average gold-equivalent production of 109,000 oz. per year.
The Romero project’s after-tax net present value (at 5%…
