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Blue Lagoon Resources Inc.
Summary
| Project: | Dome Mountain | |
|---|---|---|
| Deposit: | Dome Mountain | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/19/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-5-2020: Blue Lagoon Resources Inc. announces a PEA report for its Dome Mountain deposit at the Dome Mountain project. PEA results incl. post-tax NPV (5%) of C$11.6M % IRR of 277%. May 19, 2020 – Vancouver, British Columbia – Blue Lagoon Resources Inc. | |
| Resources: | ||
| CP/QP: | [Overall Report]: William Cronk (Internal) | |
| ABSTRACT: | May 19, 2020 – Vancouver, British Columbia – Blue Lagoon Resources Inc. (the “Company”) (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce a mineral resource and a positive preliminary economic assessment (PEA) for the company's Dome Mountain Mine (“Dome Mountain”) gold deposit, located a short 50 minute drive from the town of Smithers, B.C. The PEA was completed by Roughstock Mining Services of Bozeman, Montana. The Dome Mountain Gold Mine Project currently holds a Mining Permit and Environmental Management Act Permit (EMA) providing for up to 75,000 tonnes annually. The PEA considers the economics of a 100 tonnes per day mining operation, (~36K tonnes annually) which is half the tonnage provided for under the existing permit. Over the 12 year planned mine life, the PEA projects that 85,000 payable ounces are recoverable, with the first five years recovery to be 45,000 payable ounces, at a per ounce cash cost of $US 987 and selling price of $US 1,450 per ounce of gold, providing on average $CAD 2.32 million per year after tax free cash flow, using a discount rate of 5%, during that initial five year period. | |
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