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Toachi Mining Inc.
Summary
| Project: | La Plata | |
|---|---|---|
| Deposit: | La Mina | |
| Location: | Ecuador | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 4/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-4-2019: Toachi Mining Inc. announces a PEA report for its La Mina deposit at the La Plata project. PEA results incl. post-tax NPV of US $39M (8%), IRR of 24%, 7.1yr LOM at the project. TORONTO--(BUSINESS WIRE)--April 30, 2019--Toachi Mining Inc., (“Toa | |
| Resources: | (Resource, Inf.): 1.846Mt @ 4.1g/t Au, 50g/t Ag, 3.3% Cu, 0.6% Pb, 4.6% Zn | |
| CP/QP: | [Overall Report]: David Orava (SGS Canada Inc.) | |
| ABSTRACT: | TORONTO--(BUSINESS WIRE)--April 30, 2019--Toachi Mining Inc., (“Toachi” or the “Company”) (TSX-V:TIM) (OTCQB:TIMGF) is pleased to announce the positive results of the independent Preliminary Economic Assessment (“PEA”) for the La Mina VMS Project (“Project”) located in the Province of Cotopaxi, Ecuador. The PEA was prepared pursuant to National Instrument 43-101 (“NI 43-101”) and has an effective date of March 30th, 2019. A NI 43-101 technical report summarizing the PEA (the “Technical Report”) will be available on SEDAR no later than June 20th, 2019. All references to currencies herein are in U.S. dollars. The PEA was led by independent resources, mining, metallurgy, processing and environmental consultants, with support from the Toachi technical team. The principal consultants include: SGS Canada Inc., Geological Services (“SGS”); SGS Lakefield, SGS Bateman, Brian Wolfe and Dr. Simon Strickland Meik. A number of other independent consulting firms and potential vendors also provided information used in the PEA. Alain Bureau, President & CEO, stated, “Today’s PEA demonstrates the La Mina VMS Project is a high-return, capital efficient and low-operating cost project. This evaluation is a significant milestone, showing a polymetallic project with an After-Tax IRR of 24% and NPV (5%) of US $52 million. The PEA is based on the production of two marketable base metal concentrates with high values in precious metals. This also brings a strong foundation for Toachi to build on as the deposit is open at depth, and recent exploration indicates the possible continuity of the mineralised footprint to the north. It is important to mention the present PEA does not include the recently discovered “Guatuza zone” as well as Toachi’s plans to initiate further metallurgical and processing tests to pursue the optimization of the Project.” | |
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