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Calico Resources Corp.
Summary
| Project: | Grassy Mountain | |
|---|---|---|
| Deposit: | Grassy Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 1/13/2015 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 13-1-2015: Calico Resources Corp. announces a PEA report for its Grassy Mountain deposit at the Grassy Mountain project. PEA results incl. pre-tax NPV (5%) of US$144.2M, IRR of 32.6%, 2.7 year payback. Metal Mining Consultants Inc. (“MMC”) was retained by | |
| Resources: | (Resource, M+I): 3.245Mt @ 0.155oz/t Au, 0.271oz/t Ag | |
| CP/QP: | [Resources]: Zachry J. Black (Hardrock Mining Consulting LLC) | |
| ABSTRACT: | Metal Mining Consultants Inc. (“MMC”) was retained by Calico Resources Corp. (“Calico” or the “Company”) to complete a Preliminary Economic Assessment (“PEA”) and associated National Instrument 43-101 (“NI 43-101”) Technical Report for the Grassy Mountain Project (the “Project” or the “Grassy Mountain Project”) in Malheur County, Oregon. The PEA is preliminary in nature, and there is no certainty that the results set forth in the PEA will be realized. The mineral resource estimate included in this report includes inferred mineral resources which are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. This report presents the results of the PEA based on all available technical data and information as of January 13, 2015. This report was prepared in accordance with the Canadian Securities Administrators (“CSA”) NI 43-101 and in compliance with the disclosure and reporting requirements set forth in Companion Policy 43-101CP and Form 43- 101F1 (June 2011). Mineral resources are classified in accordance with standards as defined by the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) “CIM Definition Standards - For Mineral Resources and Mineral Reserves”, prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council on December 17, 2010. | |
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