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Paramount Gold Nevada Corp.
Summary
| Project: | Grassy Mountain | |
|---|---|---|
| Deposit: | Grassy Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 5/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-5-2018: Paramount Gold Nevada Corp. announces a Pre-Feasibility Study report for its Grassy Mountain deposit at the Grassy Mountain project. PFS Results incl. post-tax NPV of US $88M (5%), IRR of 28%, and Initial ore reserve estimate. WINNEMUCCA, Nev., | |
| Resources: | (Reserve, P+P): 1.72Mt @ 0.210opt Au, 0.3opt Ag for 362Koz Au, 516Koz Ag contained | |
| CP/QP: | [Resources]: Micheal Gustin (Mine Development Associates) | |
| ABSTRACT: | WINNEMUCCA, Nev., May 24, 2018 -- Paramount Gold Nevada Corp. (NYSE American:PZG) ("Paramount”) announced today the results of an independent NI 43-101 compliant Pre-Feasibility Study (“PFS”) for its 100% owned Grassy Mountain Gold Project in Eastern Oregon. The PFS confirms robust economics for a proposed underground mining operation at the current gold price. The base case projects an after tax Internal Rate of Return (“IRR”) of 28% at $1,300 gold and the estimated Net Present Value (“NPV”) exceeds $87 million at a 5% discount rate. The PFS also provides an updated resource estimate and the project’s first statement of proven and probable reserves. The PFS was prepared by industry-leading independent consultants as noted below. The full PFS report will be posted to www.SEDAR.com and www.paramountnevada.com within 45 days. Glen Van Treek, Paramount’s President and CEO, stated that, “The PFS clearly shows that Grassy Mountain is a mine worth building. The results demonstrate a low-cost operation that would deliver exceptional cash-flows over its mine life at the current gold price. The scale and simplicity of the proposed operation is one that we are very confident Paramount can build and manage. The PFS also identifies significant opportunities for improving project economics and finding more ore to extend mine life.” “The PFS is an important piece in the permit approval process. This process is well advanced and has been marked by a transparent regulatory environment and a receptive, positive response from the Oregon state government. Having proved the basic concept of a profitable underground mine at Grassy Mountain, we will now work on optimizing the PFS and expanding our resource base with targeted exploration,” said Van Treek. The PFS commenced in late 2016 with an aggressive drilling campaign to bring resource, metallurgy and geotechnical knowledge to a pre-feasibility level. With its completion, Paramount will now focus on the submission of the Consolidated Mining Permit Application with the Oregon Department of Geology and Mineral Industries (“DOGAMI”) and to provide the remaining information required by the Bureau of Land Management (“BLM”) to continue with the federal Environmental Impact Statement (“EIS”) in accordance with the Plan of Operation (“POO”) filed by Paramount in September 2017. | |
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