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Atlantic Gold Corp.
Summary
| Project: | Moose River | |
|---|---|---|
| Deposit: | Moose River | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 29-1-2018: Atlantic Gold Corp. announces a Pre-Feasibility Study report for its Moose River deposit at the Moose River project. Phase 2 Pre-Feasibility study results incl. Post-tax NPV (5%) of $422M, IRR of 35%. VANCOUVER, Jan. 29, 2018 /CNW/ - Atlantic G | |
| Resources: | (Reserve, P+P): 38.41Mt @ 1.28g/t Au for 1.585Moz Au contained at project | |
| CP/QP: | [Resources]: Marc Schulte (Moose Mountain Technical Services) | |
| ABSTRACT: | VANCOUVER, Jan. 29, 2018 /CNW/ - Atlantic Gold Corporation (TSX-V: AGB) ("Atlantic" or the "Company") is pleased to announce the results of the Phase 2 Life of Mine Expansion Pre-Feasibility Study (the "Study"), led and prepared by Ausenco Engineering Canada Inc. ("Ausenco"), in accordance with National Instrument 43-101 ("NI 43-101") in respect of the Company's Moose River Consolidated Gold Mine ("MRC"), located in Nova Scotia, Canada. Chairman and CEO Steven Dean commented, "We are very excited to issue the results of this study representing the initial estimation of the new life of mine plan at MRC for the Phase 2 expansion. This represents a placeholder which we expect will be added to as a result of the expected mineralization extensions from the drill programs at FMS and CH. Stay tuned for further updates during the course of 2018 from the Phase 3 drill program and planned updated resource estimates." MRC commenced operations with the first gold pour and initial production from the Company's Touquoy deposit in October 2017. The Phase 1 Life of Mine in the July 2015 Feasibility Study (with an effective date of July 2, 2015) was forecast to produce on average 87,000 oz. gold / year over a minimum 8.5 year mine life at an AISC of C$690/oz., and incorporated only 2 of the 4 deposits (Touquoy and Beaver Dam) into the Life of Mine plan. The central processing facility is now built and is in production at Touquoy. | |
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