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Silver Bear Resources Plc
Summary
| Project: | Mangazeisky | |
|---|---|---|
| Deposit: | Mangazeisky | |
| Location: | Russia | |
| Commodities: | Silver | |
| Date: | 10/4/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 4-10-2016: Silver Bear Resources Plc announces a Feasibility Study report for its Mangazeisky deposit at the Mangazeisky project. Feasibility study results incl. pre-tax NPV (5%) of US$132.6M, IRR of 86.1%. The Mangazeisky Project (the Project or the Prop | |
| Resources: | (Reserve, Prob.): 822000t @ 852g/t Ag for 22.519Moz Ag contained at Vertikalny | |
| CP/QP: | [Resources]: Robert Davies (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | The Mangazeisky Project (the Project or the Property) is a silver property located in the region of Yakutia, Republic of Sakha, Russia, and is 100% owned by ZAO Prognoz (Prognoz), a wholly-owned subsidiary of Silver Bear Resources Inc. (Silver Bear). In August 2016, Silver Bear commissioned Tetra Tech to complete a National Instrument 43-101 (NI 43-101) compliant feasibility study update for the Project, focusing on the silver mineralization of the Vertikalny deposit. The study also restates the current Mineral Resource for the Nizhny Endybal deposit and the Mangazeisky North and South deposits, all of which are also located within the Property area. The effective date of this study is 4th October 2016 and the effective date of the Vertikalny Mineral Resource estimate is 8th July 2016. All currency is reported in US dollars (USD), unless otherwise noted. Shortly after the completion of the original feasibility study, new results from the ongoing geological field program became available that allowed the resource geologist to refine the geological model, to achieve better definition of the mineralised zones and significantly increase the Indicated Mineral Resource estimate. Silver Bear contracted Tetra Tech to complete an updated feasibility-level mine plan and Mineral Reserve estimate for the Project and to incorporate these changes into the financial model, such that an updated feasibility study can be published. The feasibility study update did not change any infrastructure items and the mine production rate was designed to match the process plant capacity. | |
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