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Bluestone Resources Inc.
Summary
| Project: | Cerro Blanco | |
|---|---|---|
| Deposit: | Cerro Blanco | |
| Location: | Guatemala | |
| Commodities: | Gold-Silver | |
| Date: | 1/29/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-1-2019: Bluestone Resources Inc. announces a Feasibility Study report for its Cerro Blanco deposit at the Cerro Blanco project. Feasibility study results incl. post-tax NPV of $241M, IRR of 34%. January 29, 2019 – VANCOUVER, BRITISH COLUMBIA – Blueston | |
| Resources: | (Reserve, P+P): 3.444Mt @ 8.5g/t Au, 32.2g/t Ag at project | |
| CP/QP: | [Overall Report]: David Gunning, David Cass (Internal) | |
| ABSTRACT: | January 29, 2019 – VANCOUVER, BRITISH COLUMBIA – Bluestone Resources Inc. (TSXV:BSR | OTCQB:BBSRF) ("Bluestone" or the "Company") is pleased to announce the results of the Independent Feasibility Study (“Feasibility Study”) prepared in accordance with National Instrument 43-101 (“NI 43-101”) for its 100% owned high-grade Cerro Blanco Gold project (the “Project”). The Feasibility Study demonstrates that the Project represents a robust, rapid pay-back, high-grade underground mining operation. Darren Klinck, President and CEO commented, “The Feasibility Study outlines a robust developmentready, underground gold mine with a modest capital expenditure demonstrating superior economics. The mine plan supports the original conviction that the Project can be developed into a small footprint, low impact operation that will provide significant opportunities for local stakeholders and generate attractive returns for investors. Furthermore, over the next six months as we optimize the project and work to establish adequate project financing, we will see significant opportunity to continue with our objective to upgrade Inferred Resource ounces and then update the mine plan to incorporate potential meaningful mine life extension, further enhancing project economics.” | |
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