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Rex Minerals Ltd.
Summary
| Project: | Hog Ranch | |
|---|---|---|
| Deposit: | Bells | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 6/9/2020 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-6-2020: Rex Minerals Ltd. announces a Scoping Study report for its Bells deposit at the Hog Ranch project. Scoping study results incl. post-tax NPV (5%) of US$75M & IRR of 40%. The Scoping Study referred to in this announcement is a preliminary technica | |
| Resources: | (Resources, I+I): 24.4Mt @ 0.53g/t Au (420koz Au) at Bells | |
| CP/QP: | [Overall Report] Charles McHugh, John Burgess (Not stated) | |
| ABSTRACT: | The Scoping Study referred to in this announcement is a preliminary technical and economic study of the potential viability of developing the Bells Project by developing a mine and constructing a processing facility onsite. The Scoping Study referred to in this announcement is based on lower-level technical and preliminary economic assessments and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or certainty that the conclusions of the Scoping Study will be realised. Approximately 40% of the life of mine (LOM) production is in the Indicated Mineral Resource category and 60% is in the Inferred Mineral Resource category. The Company has concluded that it has reasonable grounds for disclosing a Production Target, given that the Scoping Study assumes that in the first three years of operation, 70% of the production ounces are from the Indicated Mineral Resource category. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that any further exploration work will result in the determination of further Measured or Indicated Mineral Resources or that the production target or preliminary economic assessment will be realised. | |
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