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Brio Gold Inc.
Summary
| Project: | Santa Luz | |
|---|---|---|
| Deposit: | C1 Underground | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 12/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 7-12-2017: Brio Gold Inc. announces a PEA report for its C1 Underground deposit at the Santa Luz project. PEA results incl. NPV (5%) $103M, IRR after-tax 27%. TORONTO, ONTARIO, December 7, 2017 — BRIO GOLD INC. (TSX: BRIO) (“BRIO GOLD” or the “Company”) i | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Michaud (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | TORONTO, ONTARIO, December 7, 2017 — BRIO GOLD INC. (TSX: BRIO) (“BRIO GOLD” or the “Company”) is pleased to announce that it has completed a preliminary economic assessment on the C1 Underground Mineral Resource (“C1 Underground PEA”) at the Santa Luz Project (“Santa Luz” or the “Project”). Brio Gold completed a Feasibility Study on its open pit deposit (“Open Pit FS”) earlier this year. Based on the results of the C1 Underground PEA, the Company plans on converting the C1 Underground Mineral Resources into Mineral Reserves by way of a Pre-Feasibility Study (“PFS”). The Company is also studying a combined underground and open pit mine plan for the PFS at the existing throughput rate that should improve the stripping profile and overall cashflow profile of the Santa Luz Project. The Company will also evaluate a potential mill expansion case. Work on the PFS has commenced, and the Company expects to complete the study in the first half of 2018. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. All dollar figures are in U.S. dollars, unless otherwise indicated. “The PEA demonstrates the significant positive impact that adding higher grade mill feed from the underground could have on the open pit plan,” commented Gil Clausen, Brio Gold’s President and CEO. “The C1 Underground is expected to add significant value to the Santa Luz Project, making our flagship asset both bigger and better. Underground development investment is planned to start after the establishment of steady gold production from the open pit, which means we should be able to self- fund its development. | |
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