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Geologix Explorations Inc.
Summary
| Project: | Tepal | |
|---|---|---|
| Deposit: | Tepal | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 1/19/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-1-2017: Geologix Explorations Inc. announces a PEA report for its Tepal deposit at the Tepal project. PEA results incl. post-tax NPV (5%) of US$169M, IRR of 24%, US$214M initial CAPEX. Geologix Explorations Inc. (Geologix) commissioned JDS Energy & Min | |
| Resources: | (Resources, M+I): 187Mt @ 0.3g/t Au, 1.54g/t Ag, 0.2% Cu for 1.804Moz Au contained | |
| CP/QP: | [Resources]: David Makepeace (Micon International Ltd.) | |
| ABSTRACT: | Geologix Explorations Inc. (Geologix) commissioned JDS Energy & Mining Inc. (JDS) to complete a preliminary economic assessment (PEA) of the Tepal Project (Tepal or Project) located in Michoacán State, Mexico. The purpose of this study is to revise and update the previous pre-feasibility study (PFS) filed in 2013 titled “Technical Report on the Pre-feasibility Study of the Tepal Project Michoacán, Mexico” with an effective date of March 19, 2013 (JDS, 2013). It is planned to mine the three deposits at Tepal (North, South and Tizate) via conventional open pit (OP) methods. Mining of the deposits will produce a total of 12.1 Mt of oxide plant feed, 78.3 Mt of sulphide feed along with 52.5 Mt of waste (0.6:1 overall strip ratio) over a 10-year mine life (excluding pre-production period). The mine design process for the deposits commenced with the development of OP optimization design parameters. These parameters included estimates of metal price, mining dilution, process recovery, off-site costs, geotechnical constraints (slope angles), and royalties. The current life of mine (LOM) plan focuses on achieving consistent plant feed production rates, and early mining of higher value material, as well as balancing grade and strip ratios. A preliminary market study was completed by Cliveden in Q3 2016 on the potential sale of copper concentrate and doré from the Tepal Project. The terms were reviewed and found to be acceptable by QP Gord Doerksen, P.Eng. No contractual arrangements for shipping, port usage, or refining exist at this time. Table 1.12 outlines the terms used in the economic analysis. This PEA is preliminary in nature and includes the use of Inferred Mineral Resources (2.0 Mt of mill feed material) that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. | |
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