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Bear Creek Mining Corp.
Summary
| Project: | Corani | |
|---|---|---|
| Deposit: | Corani | |
| Location: | Peru | |
| Commodities: | Silver-Lead-Zinc | |
| Date: | 11/5/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 5-11-2019: Bear Creek Mining Corp. announces a Feasibility Study report for its Corani deposit at the Corani project. 2019 feasibility study results incl. post-tax NPV (5%) of $531M, IRR of 22.9%. Vancouver, British Columbia--(Newsfile Corp. - November 5, | |
| Resources: | (Reserve, P+P): 138.582Mt @ 51.3g/t Ag, 0.90% Pb, 0.55% Zn | |
| CP/QP: | [Overall Report]: Andrew Swarthout (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - November 5, 2019) - Bear Creek Mining Corporation (TSXV: BCM) (BVL: BCM) (OTCQX: BCEKF) ("Bear Creek" or the "Company") has completed a rigorous review of the 2017 NI 43-101 Technical Report entitled Corani Project Detailed Engineering Phase 1 (FEED) (the "2017 Report") for the Corani silver, lead, zinc deposit in Peru. The 2017 Report is available on SEDAR at www.sedar.com or on the Company's website (www.bearcreekmining.com). Building on the results of the 2017 Report the objectives of the review were to reduce typical construction, development and operating risks and to identify potential improvements to Corani's expected economic performance. The results of the review include a 20 per cent increase in daily production, a $126 million (31%) increase in after-tax Net Present Value5 ("NPV5"), a 52% increase in after-tax Internal Rate of Return ("IRR") from15.1% to 22.9%, a 1.2 year (33%) reduction in the payback period, lower All-In-Sustaining-Costs ("AISC") and significantly reduced construction, development and operating risks. Anthony Hawkshaw, President and CEO, states, "I am pleased to report that management has significantly de-risked development plans and improved the expected economics of the Corani Project. Projected silver production totaling 49 million ounces during the first three operating years would make Corani one of world's largest silver producers. Byproduct lead and zinc credits make a significant contribution to Corani's expected AISC of $1.36 per ounce of silver for years one through three, resulting in capital payback in less than 30 months of the projected 15-year mine life. A summary of the results of this review (the "2019 Report") are presented below and full details will be presented in a NI 43-101 Technical Report to be filed on SEDAR (www.sedar.com) within the next 45 days. With the 2019 Report and construction and water use permits in-hand we look forward to continuing our strategic relationships with Ausenco Services Pty Ltd and San Martin Contratistas Generales to advance the Corani project toward construction and operation." | |
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