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PPX Mining Corp.
Summary
| Project: | Igor | |
|---|---|---|
| Deposit: | Igor | |
| Location: | Peru | |
| Commodities: | Gold-Silver | |
| Date: | 12/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-12-2018: PPX Mining Corp. announces a Pre-Feasibility Study report for its Igor deposit at the Igor project. PFS results incl. pre-tax NPV of US $37.7M (5%), IRR of 64%, 7yr LOM at the project. Vancouver, British Columbia – December 4, 2018 – PPX Mining | |
| Resources: | (Reserve, P+P): 1.03Mt @ 4.1g/t Au, 104g/t Ag | |
| CP/QP: | [Resources]: Paul Tietz (Mine Development Associates) | |
| ABSTRACT: | Vancouver, British Columbia – December 4, 2018 – PPX Mining Corp. (the "Company" or “PPX”) is pleased to announce that it has received the results of an independent Pre-Feasibility Study (“PFS”) for an integrated underground mine and gold-silver recovery plant at the Company’s Igor Project in Northern Peru. The PFS was prepared by Mine Development Associates (“MDA”) of Reno, Nevada in accordance with the requirements of Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (NI 43-101). Unless otherwise noted, the results below are expressed in US dollars, Canadian dollars are converted at an exchange ratio of 1.33. “PPX is excited to complete this important step in advancing the Igor Project and Mina Callanquitas towards production” said Brian J. Maher, President and CEO of PPX Mining. “The low cash costs, rapid payback and strong base-case NPV can be attributed to PPX using low-cost heap leach precious metal recovery. We view the PFS as a base-case road map that outlines the initial production plan for the Igor Page 2 Project with multiple actionable opportunities to expand gold and silver production and cash flow in the near term.” Project upside includes: ▪ As noted in the PFS, adding a conventional milling circuit to the processing plant in years 2-3 can add significant cash flow and tens of millions of dollars in NPV to the project, as silver grades increase with depth and higher recoveries offset mill capital. PPX will pursue this option by conducting additional technical analyses during the first years of the currently planned heap-leach production. | |
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