The economics are based on a total resource estimate of 1.2 million tonnes grading 7.74 grams per tonne gold (300,000 contained oz.) in the measured and indicated category and 970,000 tonnes grading 6.30 g/t gold (197,000 contained oz.) in the inferred category.
The 2023 PEA represents a restart plan for the past-producing mine at Copperstone that produced a reported 514,000 oz. of gold between 1987 and 1993 from open pit mining and later had a brief period of underground mining. Since all facilities envisioned in the PEA are located in “brownfields” locations, the project’s water and surface rights have in place for years, and the mine is fully permitted for restart.
The PEA gave Copperstone an after-tax net present value of $89.3 million (using a 5% discount rate and $2,000 gold price), an internal rate of return of 71.1% and a payback period of 1.3 years. The initial mine life is estimated at 5.7 years, and…
