QUEBEC –
Integra Gold Corp. of Vancouver has updated the preliminary economic assessment for its Lamaque South gold project in Val d’Or. Life-of-mine cash costs are estimated to be $458 (all US dollars) per ounce of gold and the all-in sustaining cost $634 per oz.
The study proposed a pre-production period of 18 months with initial capital expenses of $135.6 million. Anticipated pre-production revenues of $50 million bring the net cost down to $85.4 million. The investment would support development of an underground mine with average annual production of 123,000 oz. and total production of 1.3 million oz., a 156% increase from the PEA prepared in 2015.
The Lamaque South project carries after tax numbers for net present value (5% discount) of $501 million and an internal rate of return of 43%. The payback period would be only 4.2 years as cumulative cash flows of $770 million are expected.
The improved PEA was possible following significant infill drilling and the discovery of the C structures in 2015 at the Triangle deposit. At its peak, the Lamaque project will create up to 425 jobs.
A detailed look at the project is encouraged at
www.IntegraGold.com.
[caption id="attachment_1003717329" align="aligncenter" width="300"]
Drilling at the Lamaque South gold project.[/caption]
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