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Rio Novo Gold Inc.
Summary
| Project: | Almas | |
|---|---|---|
| Deposit: | Almas | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 8/9/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 9-8-2016: Rio Novo Gold Inc. announces a Feasibility Study report for its Almas deposit at the Almas project. Updated Feasibility study results incl. NPV of $146.7mm, IRR of 34.3%, 1.8 year payback. RungePincockMinarco (RPM) was retained by Rio Novo Miner | |
| Resources: | (Reserve, P+P): 25.7Mt @ 0.87g/t Au for 717189oz Au contained in-pit at project | |
| CP/QP: | [Resources]: Richard Kehmeier (RungePincockMinarco Ltd.) | |
| ABSTRACT: | RungePincockMinarco (RPM) was retained by Rio Novo Mineração Ltda (Rio Novo) to update the 2013 NI 43-101 compliant Definitive Feasibility Study and publish a new NI 43-101 compliant Technical Report. This Technical Report meets the requirements of Canadian National Instrument 43-101. This report is identical to the 2013 report with the exceptions of the financial inputs which reflect current metal prices, equipment and capital and labor costs and updates to permitting and surface acquisition activities. The Almas Gold Project is in the municipality of Almas, in Tocantins State, Brazil. The Project consists of three separate open pit mining areas and a central processing facility. The Almas Project three main gold deposits, Paiol, Cata Funda and Vira Saia are along a 15km long corridor of the Almas Greenstone Belt, a Paleoproterozoic volcano-sedimentary sequence which hosts numerous orogenic gold occurrences. Mining activity at the Project will commence at the Paiol pit and will be followed sequentially first at the Cata Funda pit and finally the Vira Saia pit before returning to the Paiol pit and the Paiol heap leaching tails Rio Novo’s mineral rights covering the Paiol and Cata Funda gold deposits are controlled, respectively, by two Mining Concessions (9,137 ha). The Vira Saia deposit is held by two Exploration Permits (4,483.75 ha) acquired from a third-party in 2012. | |
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