Minera Alamos (TSX.V: MAI)
Filed the results of the independent preliminary economic assessment (PEA) titled “NI43-101 Technical Report, Preliminary Economic Assessment and Mineral Resource Estimate for the Cerro de Oro Gold Project, Zacatecas, Mexico” on SEDAR.
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Minera Alamos three projects in Mexico
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| Minera Alamos | TSX.v : MAI |
| Stage | Development |
| Metals | Gold |
| Market cap | C$247 m @ 54c |
| Location | Sonora, Zacatecas, Durango – Mexico |
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Minera Alamos files Cerro de Oro PEA, technical report
2023-01-06 09:58 ET – News Release
Mr. Doug Ramshaw reports
MINERA ALAMOS FILES TECHNICAL REPORT AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE CERRO DE ORO PROJECT
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Minera Alamos Inc. (TSX.V: MAI) has filed the results of the independent preliminary economic assessment (PEA) titled “NI43-101 Technical Report, Preliminary Economic Assessment and Mineral Resource Estimate for the Cerro de Oro Gold Project, Zacatecas, Mexico” on SEDAR.
The results of the PEA were previously discussed in the company’s news release dated Oct. 3, 2022, highlights from which are included below. The report, effective as of Sept. 28, 2022, can be located under the Minera Alamos profile on SEDAR.
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Highlights of PEA (all currency references are in U.S. dollars):
- Production highlights:
- Average annual gold production approaching 60,000 ounces (approximately 60,000 ounces to 70,000 ounces in years 1 through 4);
- 8.2-year mine life based on initial minable total of 59 Mt (million tonnes) of mineralization (0.37 g/t (gram per tonne) gold) heap leached at an average rate of approximately 20,000 tpd (tonnes per day) — plus 0.4 g/t Au in years 1 through 4;
- 477,000 ounces of gold produced in loaded carbon/dore;
- LOM (life-of-mine) strip ratio of 0.3:1 (waste:mineralization);
- Robust economics using a gold price of $1,600/ounce:
- LOM all-in sustaining cost (AISC) of $873/ounce — averaging $763/ounce in years 1 through 4;
- After-Tax NPV (net present value) at a 5-per-cent discount rate of $150.5-million and IRR (internal rate of return) of 111 per cent;
- Low capital intensity project with rapid payback:
- Preproduction capital costs of $28.1-million (includes 30 per cent contingency);
- Payback period of 11 months;
- Used crushing plant already purchased reduces up front capital requirements;
- Significant upside:
- Mineralization appears open in multiple directions, as well as to depth;
- Additional metallurgical testing to examine amenability of gold recovery from deeper sulphide zones of mineralization not accounted for in current resource calculations and mine plans (some early indications that material may prove to be leachable);
- Updated inferred mineral resource estimate containing 67 million tonnes of 0.37 g/t Au (790,000 ounces of contained gold) based on an upward revision of the base case resource gold price to $1,700/ounce.
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Disclosure
At the time of writing the author holds shares in Minera Alamos.
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