Canadian Mining Journal


GOLD: Metanor files PEA on the Barry project

VAL-D’OR: Metanor Resources Inc. is pleased to announce it has filed the NI 43-101 Technical Report Preliminary Economic Assessment (PEA), Barry Gold Project, Québec, Canada, in support of the press release published September 22nd 2016.

The preliminary economic study completed by Geoservices Inc. GoldMinds, on the Barry gold project (Mining Lease number BM 886) located 100 km east of Lebel-sur-Quévillon and 115 km south of the Bachelor Mine in Quebec, establishes the following (CAD dollars):

  • Net present value (NPV) before taxes (at 6%) of 53.5 M$;
  • Internal rate of return (IRR) before taxes of 198%;
  • NPV after taxes (at 6%) of 25.9 M$;
  • IRR after taxes of 94%;
  • Capital startup of 8.5 M$;
  • Payback of 0.71 years with a gold price of $1,560 / oz;
  • All-in production cost of 1,114$ / oz (US $891 / oz);
  • For the life of the mine, a production of 193,457 ounces of gold over 9 years;
  • An average of 21,495 ounces of gold production with up to 37,573 ounces in year 2;
  • Milling of 1,200 tonnes per day at the Bachelor plant, with an average grade of 1.75 g/t diluted for the life of the mine including the first 3 years at 2.61 g/t with a metallurgical recovery of 95%;
  • Strip ratio of 2.17 to 1.

The additional details are available in the technical report as well as in the September 22nd press release.

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