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Spanish Mountain Gold Ltd.
Summary
| Project: | Spanish Mountain | |
|---|---|---|
| Deposit: | Spanish Mountain | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 2/12/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-2-2019: Spanish Mountain Gold Ltd. announces a PEA report for its Spanish Mountain deposit at the Spanish Mountain project. Amended previous PEA for Spanish Mountain. Spanish Mountain Gold Ltd. (SMG) retained Moose Mountain Technical Services (MMTS) | |
| Resources: | (Resource, M+I): 306.53Mt @ 0.39g/t Au, 0.64g/t Ag for 3.88Moz Au, 6.28Moz Ag contained at project | |
| CP/QP: | [Resources]: Gary Giroux (Giroux Consultants Ltd.) | |
| ABSTRACT: | Spanish Mountain Gold Ltd. (SMG) retained Moose Mountain Technical Services (MMTS) to prepare a National Instrument 43‐101 (NI 43 101) technical report and preliminary economic assessment (PEA) for the Spanish Mountain Gold Project (the Project). The Spanish Mountain Gold Property (the Property) involves the development of a gold deposit located in southcentral BC, Canada, approximately 6 km southeast of the community of Likely and 66 km northeast of the City of Williams Lake (Figure 1‐1). The Property is situated between Quesnel Lake and Spanish Lake; its centre is located at approximately latitude 52˚ 34' north and longitude 121˚ 28' west. The gold concentrator for the Project has been designed to process a nominal 7,300,000 t/a (or 20,000 t/d) of gold and silver bearing material from an open pit operation, and will produce gold‐silver doré as a final product. The Project is well suited for open pit mining operations. The recovery of gold from the Spanish Mountain Gold resource uses conventional processing technology with a relatively coarse primary grind size. High recoveries will be obtained with processing costs being modest, due mainly to their relative low grinding power requirements and low reagent consumption. The capital costs for the Project have been estimated using local rates and are well within the range found in similar projects. The Project has a planned 14‐year open pit operation and a 24‐year plant operation for life of mine production of 2.2M ounces of gold at an average grade of 0.44 g/t. The Project exhibits positive economics at a range of metal prices. The positive conclusions of this PEA lead the authors to recommend that the Project should proceed towards a higher level of study. | |
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