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Auryn Resources Inc.
Summary
| Project: | Homestake Ridge | |
|---|---|---|
| Deposit: | Homestake Ridge | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 4/15/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-4-2020: Auryn Resources Inc. announces a PEA report for its Homestake Ridge deposit at the Homestake Ridge project. PEA results incl. post-tax NPV (5%) of US$108M and IRR of 23.6%. Vancouver, Canada – April 15 th, 2020 – Auryn Resources Inc. (TSX: AUG, | |
| Resources: | ||
| CP/QP: | [Overall Report]: David Stone (Not stated) | |
| ABSTRACT: | Vancouver, Canada – April 15 th, 2020 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG) (“Auryn” or the “Company”) is pleased to announce positive results from an independent preliminary economic assessment (PEA) and an updated resource estimate for its 100% owned 7,500 hectare Homestake Ridge gold project located in the prolific Iskut-Stewart-Kisault gold belt in northwestern British Columbia, Canada (Figure 1). The PEA demonstrates the project’s potential to become a high-grade, small footprint, underground gold mine with positive economics and upside potential from both a rising gold price and prospective expansion. The PEA presentation can be viewed by clicking here, and a visualization of the Life Of Mine (LOM) model can be viewed here. “This is an early look into the Homestake Ridge high-grade gold project’s current value, which demonstrates a highly profitable deposit with a low capex in an established mining jurisdiction, and importantly, it is open for considerable expansion. “We took a conservative approach in our study to see the project’s resilience at $1,350 gold, which generated a 23.6% IRR, however, at $1,620 gold the project generates an IRR of 32% and an NPV of over US$173 million. | |
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