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Minnova Corp.
Summary
| Project: | Maverick | |
|---|---|---|
| Deposit: | PL Deposit | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 1-11-2017: Minnova Corp. announces a Feasibility Study report for its PL Deposit deposit at the Maverick project. Feasibility study results incl. pre-tax NPV (5%) of $55.9M, IRR of 65%. November 1, 2017, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pi | |
| Resources: | (Reserve, P+P): 1.266Mt @ 6.34g/t Au at PL deposit | |
| CP/QP: | [Resources]: Leon McGarry (CSA Global Pty Ltd.) | |
| ABSTRACT: | November 1, 2017, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, "Minnova” or the “Company”), an advanced-stage mining exploration and gold development company focused on the advancement and re-start of our 100% owned PL Gold Mine in central Manitoba is pleased to announce results of the Feasibility Study (“2017 FS”) considering the re-start of the PL Gold Mine initially as an underground mine located near, Sherridon, Manitoba. The FS 2017 was prepared by AZ Mining Professionals Ltd. (“AZM”) based on an updated mineral resource estimate prepared by Leon McGarry of CSA Global Pty Ltd. (“CSA”). Currencies reported below are in Canadian dollars unless otherwise specified. Gorden Glenn, President & CEO of Minnova commented, "We are very pleased with the feasibility study results. This detailed study significantly de-risks the project and supports that the re-start of the PL mine is economically robust. The low pre-production capital cost, low operating and All-In-Sustaining-Cost’s (“AISC”), short time line to production, quick payback of 1.5 years from the start of production and a minimum 5 year mine life offer a significant value proposition for all stakeholders. | |
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