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Eros Resources Corp.
Summary
| Project: | Bell Mountain | |
|---|---|---|
| Deposit: | Bell Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 10/12/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-10-2017: Eros Resources Corp. announces a PEA report for its Bell Mountain deposit at the Bell Mountain project. PEA results incl. pre-tax NPV (5%) of $17.6M, IRR of 41.1%. Vancouver, BC (October 11, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or t | |
| Resources: | (refer to full report) | |
| CP/QP: | [Resources]: Zachary Black (Hardrock Mining Consulting LLC) | |
| ABSTRACT: | Vancouver, BC (October 11, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) hereby provides the results of a Preliminary Economic Assessment (“PEA”) on its 100% owned Bell Mountain gold project (the “Bell Mountain Property” or the “Project”) in Churchill County, Nevada. The PEA provides a base case assessment of the current status of the Project notwithstanding the Bureau of Land Management (“BLM”) September 1, 2016 notice that the US Navy had applied to expand the Fallon Range Training Facility and withdraw 604,789 acres of public land, an area that includes the entire Bell Mountain Property. As a result, the BLM has segregated the proposed expansion area for a two-year period such that no entry or work can be conducted on existing mining claims therein (including the Bell Mountain Property) while an environmental impact statement (“EIS”) respecting the expansion proposal is completed by the US Navy. The withdrawal will require ratification by the US Congress, who are expected to make a final decision following the completion of the EIS and upon receiving a recommendation from the Secretary of the Interior. “The PEA was compiled to provide an assessment of the Project as it stands today. The restriction placed on Eros to explore and advance the Project has prevented us from attempting to expand and upgrade the resource base and further enhance the potential economics of the Project. Nonetheless, the results of the study clearly indicate continued investment into the Bell Mountain Property is justified,” stated Ron Stewart, President and CEO of Eros. | |
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