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Kinross Gold Corp.
Summary
| Project: | Lobo Marte | |
|---|---|---|
| Deposit: | Lobo Marte | |
| Location: | Chile | |
| Commodities: | Gold | |
| Date: | 7/15/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-7-2020: Kinross Gold Corp. announces a Pre-Feasibility Study report for its Lobo Marte deposit at the Lobo Marte project. PFS results incl. NPV (6%) of US$150M & IRR of 7%. Toronto, Ontario, July 15, 2020 – Kinross Gold Corporation (TSX:K; NYSE:KGC) (“ | |
| Resources: | (Reserves, Prob.): 146.7Mt @ 1.36g/t Au (6.3koz Au) | |
| CP/QP: | [Overall Report] Not stated (Not stated) | |
| ABSTRACT: | Toronto, Ontario, July 15, 2020 – Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the “Company”) today announced the results of a pre-feasibility study (“PFS”) for its Lobo-Marte project in Chile. Lobo-Marte offers the potential of a cornerstone asset with attractive all-in sustaining costs1, 2 to enhance Kinross’ long-term production profile. The project adds a significant 6.4 million gold ounces, representing an approximately 25% increase, to the Company’s 2019 year-end mineral reserve estimates in a favourable mining jurisdiction. The reserve addition also increases Kinross’ reserve life index3 by approximately 2.5 years. The PFS estimate includes total life of mine production of approximately 4.5 million Au oz., average cost of sales of $545 per Au oz. 1, 2 and average all-in sustaining cost of sales of $745 per Au oz.1, 2 during a 15-year mine life, which includes 12 years of mining followed by three years of residual processing. The project has attractive grades and a low estimated strip ratio, in part due to historical stripping completed at the Marte pit. | |
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