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Callinex Mines Inc.
Summary
| Project: | Superjack | |
|---|---|---|
| Deposit: | Superjack | |
| Location: | Canada | |
| Commodities: | Zinc-Lead-Copper-Silver | |
| Date: | 5/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-5-2018: Callinex Mines Inc. announces a PEA report for its Superjack deposit at the Superjack project. PEA Results incl. post-tax NPV of US $128M (8%), IRR of 25.2%, 10yr LOM at Nash Creek and Superjack. VANCOUVER, May 14, 2018 /CNW/ - CallinexMines In | |
| Resources: | (Resource, Inf.): 3.211Mt @ 4.63% ZnEq. at project | |
| CP/QP: | [Overall Report]: Eugene Puritch (P&E Mining Consultants Inc.) | |
| ABSTRACT: | VANCOUVER, May 14, 2018 /CNW/ - CallinexMines Inc. (the"Company"or"Callinex") (TSX-V:CNX; OTCQX:CLLXF) is pleased to announceresults froman independent initialPreliminaryEconomic Assessment ("PEA") on the Company's 100%owned NashCreek and Superjack Projects located in the Bathurst MiningDistrict ofNewBrunswick, Canada(See Figure 1 and Figure 2). TheinitialPEAoutlinesa 10-year, 3,900 tpd open-pitmining operationwith a Dense Media Separation ("DMS") plantand 1,950 tpd conventionalflotation process facility at the NashCreek Project (the"Project"). The mine plan generates a strong economicreturnwith a pre-tax internalrate ofreturn ("IRR") of a 34.1% (25.2% post-tax) and a pre-tax Net Present Value ("NPV") at an 8% discount rate of C$230 million (C$128 million post-tax) based on pre-production capitalcosts ofC$168 million and azinc price ofUS$1.25/lb (See Tables 1 and 2). The Company believes thereisaclear opportunity to significantly enhancethe project'seconomics with additionalexploration that allows for higher grade materialto bescheduled earlier in the mine plan (See Figure 3). Max Porterfield, Presidentand CEO, stated, "Weare very pleased with theresults ofthis initialPEAthat outlines the potentialfora newzinc mine at our NashCreek Project. Theresults ofthis PEA,combined with close proximity to infrastructureand a district-scaleland package, representsa highly attractivescenario for Callinex shareholders." Click hereto viewatwo-minute video foran overviewofthe NashCreek Project Cautionary Note onPEA. The PEAis preliminary in natureand it includes Inferred MineralResources thatareconsidered too speculative geologically to havetheeconomicconsiderationsapplied to themthat would enablethemto becategorized as MineralReserves. Thereis no certainty that the PEAwill berealized | |
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