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Austral Gold Ltd.
Summary
| Project: | Amancaya | |
|---|---|---|
| Deposit: | Amancaya | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| Date: | 6/9/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 9-6-2017: Austral Gold Ltd. announces a Pre-Feasibility Study report for its Amancaya deposit at the Amancaya project. PFS results for Amancaya incl. post-tax NPV (7.5%) US$ 66.1M, LOM of 5 yrs.. Austral Gold Limited (“Austral” or the “Company”) (ASX: AGD | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Resources]: Chester Moore (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Austral Gold Limited (“Austral” or the “Company”) (ASX: AGD; TSX-V: AGLD) is pleased to announce the filing on SEDAR and the ASX of a Technical Report, prepared in accordance with National Instrument 43-101 and JORC Code, on the Guanaco and Amancaya Gold Project, Region II, Chile, dated 16 June, 2017, with an effective date of 31st December 2016 (the “Technical Report”). The Technical Report supports the Company’s pre-feasibility study, disclosed in the Company’s announcement dated 9 June 2017. Stabro Kasaneva, CEO of Austral Gold stated: “This is a significant step for Austral Gold in executing on its focus on high-margin production growth. Once the new processing plant enters operation the Company plans to transport the high grade Amancaya production, currently being stockpiled at Amancaya, to the new plant. We hope to see the efficiencies of the new plant positively impact our cash flow, with gold recoveries expected to improve by at least 25%. We hope to complete final commissioning of the new plant shortly and commence combined operations thereafter.” The Guanaco Gold Project is currently held by Austral Gold through its wholly-owned subsidiary Guanaco Mining Company Ltd (GMC). GMC has a 99.99% interest in Guanaco Compañía Minera SpA (GCM), the subsidiary entity in Chile that owns and currently operates the Guanaco Mine. The Guanaco Gold Project has produced approximately 50,000 oz of gold per year for the last four years and is projected to continue at this rate for the next five years, as described in the LOM plan. Following purchase of the Amancaya project from Yamana Gold in 2014 and an infill drilling program in 2016 the Company has been assessing the possibility to run both Guanaco and Amancaya as a combined operation, with all production treated at a new processing plant built at Guanaco. RPA was commissioned to undertake the Technical Report used by the Company to undertake a Pre-Feasibility Study | |
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