Canadian Mining Journal

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GOLD: Columbus pleased with Montagne d’Or PEA

FRENCH GUIANA – Vancouver's Columbus Gold Corp. says its is pleased with the preliminary economic assessment of the Montagne d'Or gold deposit at the Paul Isnard project. SRK Consulting (US) prepared the report.



FRENCH GUIANA – Vancouver’s Columbus Gold Corp. says its is pleased with the preliminary economic assessment of the Montagne d’Or gold deposit at the Paul Isnard project. SRK Consulting (US) prepared the report.

An open pit mine and carbon-in-leach plant with a throughput of 12,500 t/d will have an after tax net present value of US$324 million (8% discount) and an internal rate of return of 23%, using a gold price of US$1,200 per oz.

The initial capital cost is estimated at US$366 million to develop the project with a 273,000 oz per year output during the first 10 years of production. All-in sustaining cost will be US$711 per oz.

Columbus plans to begin work on a feasibility study in Q3 2015 and complete it by the end of 2016. The feasibility work is to be funded by Nord Gold as part of a minimum US$30 million exploration and development option by which Nord Gold can earn a 50.01% interest in the Montagne d’Or and Paul Isnard mineral titles.

The complete PEA is available at ColumbusGold.com/i/nr/2015-07-08-pea.pdf.