MANITOBA – The outlook is positive according to an updated preliminary economic assessment of the Maverick (formerly Nokomis) gold project 65 km northeast of Flin Flon. Owner/operator Auriga Gold of Toronto acquired 100% of the project in November 2011.
The proposal includes the open pit mining of 530,000 tonnes of potentially economic mineralization, the dewatering of the historic Puffy Lake underground gold mine and test stoping followed by underground mining. The existing Puffy Lake mill would be refurbished as part of the program.
The PEA was conducted by ACA Howe International based on a global resource estimate (pit and underground, indicated and inferred) of 3.1 million tonnes grading 5.61 g/t Au and containing 558,000 oz of gold.
The base case suggests an expenditures of $18.1 million for pre-production and a further $26.6 million for sustaining capital and closure. Five open pits and the room and pillar underground would supply the refurbished 750-t/d mill for 7.5 years. About 348,000 oz of gold would be produced.
The most updated PEA will be posted at www.AurigaGold.ca. Meantime enjoy the maps and images on the site.