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Algold Resources Ltd.
Summary
| Project: | Tijirit | |
|---|---|---|
| Deposit: | Tijirit | |
| Location: | Mauritania | |
| Commodities: | Gold | |
| Date: | 7/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-7-2018: Algold Resources Ltd. announces a PEA report for its Tijirit deposit at the Tijirit project. PEA results incl. post-tax NPV of USD $69.0M (8%), IRR of 23.5%, 7yr LOM at the project. Algold (ALG - TSX.V) is a Canadian junior company focusing on e | |
| Resources: | (Resource, M+I): 3.217Mt @ 1.64g/t Au for 169.45Koz Au contained | |
| CP/QP: | [Resources]: Yann Camus (SGS Canada Inc.) | |
| ABSTRACT: | Algold (ALG - TSX.V) is a Canadian junior company focusing on exploration and development of gold deposits in West Africa. TIREX SA, a public limited company under Mauritanian law regularly incorporated and registered in the Nouakchott trade register on April 27, 2016 under the numbers 91408/GU/12417 (analytic register) and 1994 (chronological register), is a subsidiary of Kanosak Barbados, which is a subsidiary of the Algold Resources Company Ltd. ("Algold"), a Canadian company listed on the Toronto Stock Exchange in Canada. Algold, on behalf of TIREX SA, commissioned Ausenco Engineering Canada (Ausenco), along with MetChem/DRA, WSP Canada Inc (WSP), and SGS Geostat to prepare a Preliminary Economic Assessment (PEA) of the Tijirit Project in Mauritania. The Tijirit Project includes the 1117B2 exploration permit and the 306 km2 2480C2 mining concession granted to TIREX by the Mauritanian government on June 12, 2017 for a period of 30 years. This concession gives TIREX SA exploration and exploitation rights for the gold and related substances covered by this permit. The PEA and the resources estimate only refer to the mining concession. The PEA is also based on resources estimation statement already published in a previous technical report prepared by SGS Geostat and titled: Tijirit Project NI-43-101 Technical Report with Resources Estimate Update dated April 10, 2018 and already available on SEDAR. | |
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