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Beacon Minerals Ltd.
Summary
| Project: | Jaurdi | |
|---|---|---|
| Deposit: | Jaurdi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 29-8-2018: Beacon Minerals Ltd. announces a Pre-Feasibility Study report for its Jaurdi deposit at the Jaurdi project. PFS results incl. pre-tax NPV of A $70.49M, IRR of 75%, 5yr LOM at the project . Beacon Minerals Limited (“Beacon” or the “Company”) is | |
| Resources: | (Reserve, P+P): 2.470Mt @ 1.9g/t Au for 148.5Koz Au contained | |
| CP/QP: | [Resources]: Darrly Mapleson, Richard Finch (BM Geological Services) | |
| ABSTRACT: | Beacon Minerals Limited (“Beacon” or the “Company”) is pleased to announce the completion of its PFS for the Jaurdi Gold Project. The PFS demonstrates an economically and technically viable project with considerable upside. The key financial parameters are tabled below: The PFS is based on Proved and Probable Ore Reserves derived from Measured and Indicated Mineral Resources respectively. No Inferred Mineral Resource was included in the estimation of Ore Reserves. The PFS was prepared to an overall level of accuracy of +10%/‐5%. It is based on material assumptions outlined elsewhere in this announcement and in Appendix 1 Material Assumptions PFS. The Company has concluded it has a reasonable basis for providing the forward‐looking statements included in this announcement. Managing Director Graham McGarry said: “The release of the PFS for the Jaurdi Gold Project is an important milestone for the Company. The results from the PFS demonstrates Jaurdi is a valuable gold resource and an economically viable mining operation can be developed. “The PFS has concluded that the Jaurdi Gold Project will enjoy low pre‐production and operating costs which underpin a low risk, high margin gold operation with a short payback period and strong free cash flow. “Beacon will work diligently on producing gold in the first half of 2019 from this new and exciting gold environment and and we will continue to explore the several “high priority” exploration targets we have identified from previous high level exploration activities. | |
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