Thesis Gold’s PFS reveals $2.37B NPV for Lawyers-Ranch project

Thesis Gold (TSXV: TAU; US-OTCQX: THSGF) released results from an independent prefeasibility study (PFS) for its Lawyers-Ranch project in British Columbia's Toodoggone mining district. The study, conducted by several engineering firms in compliance with regulatory standards, outlined a plan for combined open pit and underground mining with centralized ore processing.

The PFS projected robust economics at a gold price of $2,900 per ounce and silver price of $35 per ounce. It estimated an after-tax internal rate of return of 54.4% and net present value of $2.37 billion at a 5% discount rate. The project was forecast to have average annual production of 266,000 gold-equivalent ounces in the first three years and 187,000 ounces over the life of mine.

The study outlined a 15-year mine life processing 76 million tonnes of ore, with total production of 2.84 million gold-equivalent ounces. It estimated initial capital costs of $736.2 million with a 1.1 year payback period. All-in sustaining costs were projected at $1,185 per gold-equivalent ounce.

The PFS included a maiden mineral reserve of 76.16 million tonnes grading 0.97 g/t gold and 28 g/t silver for a total gold-equivalent grade of 1.33 g/t. Despite removing inferred resources from the mine plan, total ore processed increased 18% compared to an earlier assessment. Mill throughput was increased 9% to 13,700 tonnes per day.

The study incorporated several optimizations, including prioritizing high-margin ore, increasing underground cut-off grades, and implementing a stockpiling approach. It also outlined opportunities for potential further improvements in a future feasibility study.

Thesis Gold's CEO stated the results position the company as "one of the strongest value-creation stories in the sector." The company plans to initiate an environmental assessment process in late 2025 and a feasibility study in 2026 as it advances the fully-owned Lawyers-Ranch project.

More information is posted at www.ThesisGold.com.