GOLD: Falco shares positive PEA for Horne 5 project

QUEBEC – Montreal-based Falco Resources says the preliminary economic assessment of its Horne 5 gold project near Rouyn-Noranda points towards an economically viable mine. Falco points to the highlights: an all-in sustaining cost of US$427/oz of gold net of by-product credits, all-in capital plus operating cost of US$660/oz of gold, an annual production of 235,000 oz, and an after tax internal rate of return of 16.0%. The PEA outlines an underground mine with a life of 12 years during which time more than 3 million oz of gold will be recovered. The ore would be crushed underground and then hoisted to a semi-autogenous-ball milling-crushing circuit at a 15,000 t/d plant. Separate flotation circuits would recover copper, zinc and pyrite concentrates. The pyrite con and pyrite float tails would be reground and leached in carbon-in-pulp circuits. Preproduction capital costs are estimated at $905.2 million including contingency. Details are available at Falco’s website, www.FalcoRes.com.