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Alio Gold Inc.
Summary
| Project: | Florida Canyon Mine | |
|---|---|---|
| Deposit: | Florida Canyon Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 1/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2019: Alio Gold Inc. announces a Pre-Feasibility Study report for its Florida Canyon Mine deposit at the Florida Canyon Mine project. Life of mine plan results incl. post-tax NPV of US $105M (5%), Initial reserve estimate. This positive Life of Mine | |
| Resources: | (Reserve, P+P): 85.852Mt @ 0.37g/t Au for 1.013Moz Au contained | |
| CP/QP: | [Resources]: Timothy Carew (SRK Consulting (US) Inc.) | |
| ABSTRACT: | This positive Life of Mine Plan confirms the value of Florida Canyon that we saw when we acquired the mine last year," said Greg McCunn, Chief Executive Officer. "The mine produced 47,400 ounces of gold in 2018 and the ramp up progressed well over the fourth quarter. In 2019, we expect Florida Canyon to produce approximately 60,000 ounces of gold at a cash cost of approximately $1,000/oz. We expect to spend approximately $10 million in capital in 2019, including an expansion to the leach pad and key infrastructure around the crushing circuit to eliminate re-handling of the ore ahead of the crusher, which we expect will reduce operating costs. "We anticipate needing to begin replacing our mining fleet in 2020. This Life of Mine Plan assumes we will replace the existing CAT 785 fleet over a period of time with new equipment. In 2019 we will be evaluating alternative options to reduce the sustaining capital requirements as well as potentially reducing the truck size to CAT 777’s to allow narrower ramps in the pits. "Additionally, we believe that there are a number of opportunities to enhance the value of Florida Canyon that we will evaluate in 2019 including the restart of the adjacent Standard Mine and the strategic value of the sulphide deposit underlying the oxide reserves." | |
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