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COPPER-MOLYBDENUM: Entre updates Ann Mason PEA

NEVADA – Entrée Gold of Vancouver has updated the preliminary economic assessment for its Ann Mason copper-molybdenum porphyry project near Yerington. The new PEA has an updated mineral resource, improvements to the mine plan,...



NEVADA – Entrée Gold of Vancouver has updated the preliminary economic assessment for its Ann Mason copper-molybdenum porphyry project near Yerington. The new PEA has an updated mineral resource, improvements to the mine plan, partial leasing of the mining fleet, and refinements to the metallurgical process.

The 2015 PEA foresees a 20% milling increase to 120,000 t/d and has several other changes. The base case after tax net present value (at 7.5% discount) is now $770 million (an increase of 11.6% above the earlier study). The after tax internal rate of return will be 13.7% (+8.7%). Initial capital expenditure including contingency has gone up to $1.35 billion (+5.5%), but total spending including sustaining and contingency amounts has dropped to $1.54 billion (–16.8%). Average annual copper production will go up by +12.6% to 241 million lb.

The latest resource estimate has 1.40 billion measured and indicated tonnes averaging 0.32% Cu and containing about 9.89 billion lb of copper. The inferred resource is another 623 million tonnes at 0.29% Cu containing approximately 3.99 billion lb of copper.

Entrée estimates a 21-year life for the mine followed by four years of reclamation.

More information is posted at EntreeGold.com