North Bullfrog Project''s, Preliminary Economic Assessment - Corvus Gold''s Detailed Phase-1, Standalone, Near-Term Mine Development Plan in the Bullfrog Mining District, Nevada
(PresseBox) - Corvus Gold Inc. (?Corvus? or the ?Company?) - (TSX: KOR, NASDAQ: KOR) announces results for its Preliminary Economic Assessment (?PEA?) of the Company?s North Bullfrog project in southwest Nevada (Figure 1).margins and anticipated strong free cashflow generation that could provide development capital for the Company?s potential, second mining project at the Mother Lode deposit.
The PEA results indicate robust economics at a gold price of $1,500/oz with free cash flow of $763M and post-tax NPV5% of $452M with an IRR of 47% and strong leverage to higher gold prices with a USD $1.36B pre-tax cash flow at $1,900 gold price and post-tax NPV5% $815M with an IRR of 70% (Table 1).
The North Bullfrog PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Jeffrey Pontius, President and CEO of Corvus states, ?The results from our PEA study of the North Bullfrog project are encouraging.urgence of exploration activity with multiple mining companies conducting large scale drilling programs and new discoveries being made. The North Bullfrog PEA study has highlighted a re-emergence of the Bullfrog Gold District and with Corvus Gold?s commanding land position we believe we have the Dis
The North Bullfrog Project is modeled as a large open pit, run-of-mine, heap leach operation with a grinding circuit for gravity gold recovery of the high-grade YellowJacket vein and stockwork deposit.
The new PEA study also includes a number of changes to the prior North Bullfrog project (NBP) configuration which enhance the project that include:
Incorporating new NBP metallurgical testing results that indicated that the high-grade vein and vein stockwork mineralization at YellowJacket can be processed by a simple gravity mill and that the gravity tail can then be directly blended with low-grade mineralization for final gold recovery on the Heap Leach Pad. The approach reduced plant capital and Opex costs while maintaining relatively high gold (85%) recovery for the YellowJacket mineralization. The process plant and processing configuration for NBP has been modified to incorporate this approach.
Defining a starter phase of mining at NBP that focuses on the higher-grade YellowJacket vein and higher-grade heap leach mineralization to begin the project, increasing project returns and cash flow in the early mining phase.
Improved open-pit mining and development plans to enhance project economics.
The PEA only includes drill results completed up until May 2020.
Please find further information in the attachement.
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Datum: 07.10.2020 - 10:18 Uhr
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News-ID 1561332
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