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Falco Resources Ltd.
Summary
| Project: | Horne 5 | |
|---|---|---|
| Deposit: | Horne 5 | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 10/16/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 16-10-2017: Falco Resources Ltd. announces a Feasibility Study report for its Horne 5 deposit at the Horne 5 project. Feasibility study results incl. pre-tax NPV (5%) of $1297M, IRR of 18.9%. (Montreal, Québec, October 16, 2017) – Falco Resources (FPC: TS | |
| Resources: | (Reserve, P+P): 80.9Mt @1.44g/t Au, 14.14g/t Ag, 0.17% Cu, 0.77% Zn at project | |
| CP/QP: | [Resources]: Carl Pelletier (InnovExplo Inc.) | |
| ABSTRACT: | (Montreal, Québec, October 16, 2017) – Falco Resources (FPC: TSX-V) (“Falco” or the “Company”) is pleased to announce the results of a feasibility study (the “Feasibility Study” ) prepared in accordance with National Instrument 43-101 (“NI 43-101”) for the Company’s Horne 5 Gold Project (“Horne 5 Project” or the “Project”) located in Rouyn-Noranda, Québec, Canada. The Feasibility Study indicates that the Horne 5 Project represents a robust, high margin, fifteen year underground mining project with attractive economics in the current gold price environment. The Feasibility Study was prepared by BBA Inc., under the direction of Mr. Luc Lessard, P. Eng., President and Chief Executive Officer of the Company, and its Vice-Presidents Messrs. Francois Vezina, P. Eng., Christian Laroche, P. Eng., and Mrs. Hélène Cartier, P. Eng. LLB, the Osisko Gold Royalties technical team, and included contributions from the geological and engineering teams at BBA Inc., InnovExplo Inc., Golder Associates Ltd., WSP Canada Inc., SNC-Lavalin Stavibel Inc., and Ingénierie RIVVAL Inc. At a gold price of $1,300/oz and using an exchange rate of C$1.00 = US$0.78, the Feasibility Study shows that the Horne 5 Project would generate an after-tax net present value (“NPV”), at a 5% discount rate, of $602 million and an internal rate of return (“IRR”) of 15.3% after-tax. In this scenario, the mine could become the next significant gold producer in Québec, with a production profile averaging 219,000 payable ounces annually over the life of mine, with an all-in sustaining cash cost of $399 per ounce net of by-product credits and all-in cost, CAPEX plus OPEX, estimated at $643 per ounce. The Environmental Impact Assessment (“EIA”) study, which has been initiated by WSP Canada Inc., is expected to be completed in the fourth quarter of 2017. | |
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