Canamex Files Updated Preliminary Economic Assessment Report for Bruner Gold Project, Nevada

About this update from Canamex Gold Corp

[{"type":"text","content":"Canamex Files Updated Preliminary Economic Assessment Report for Bruner Gold Project, Nevada(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / January 25, 2018 - Canamex Gold Corp. (\"Canamex\") (TSX-V: CSQ) (OTCQX: CNMXF) (FSE: CX6) is pleased to announce that on January 23, 2018 it filed on SEDAR (www.sedar.com) the Updated Preliminary Economic Assessment Report (\"PEA\") for the Bruner Gold Project in Nye County, Nevada. \n\n\n \nThe updated PEA was prepared by Welsh Hagen Associates (\"WHA\") of Reno, Nevada in accordance with the requirements of Canadian National Instrument 43-101 \"Standards of Disclosure for Mineral Projects\" (\"NI 43-101\"), and based upon the amended NI43-101 PEA report dated September 27, 2016, and additional drilling completed at the Paymaster, HRA and Penelas resource areas in 2016 and 2017. The updated NI43-101 resources remain open in multiple directions and are amenable to expansion with additional drilling.\n\n\n \nThe Bruner Gold Project is 100% owned Canamex Gold Corporation. All dollars referenced are both US and Canadian dollars, with an exchange ratio of US$0.80 = Cdn$1.00.\n\n\n \nAs announced in Canamex's news release dated January 8, 2018, the following is a summary of the base case results of the PEA on a 100% ownership basis for the Bruner Gold Project in Nevada and at a gold price of $1280/oz. and a silver price of $17/oz. The key outcomes of the study include:\n\n\n \n-After-tax net present value at 5% discount rate (NPV5) of US$69.6 million (C$86.25 million, or $Cdn1.40/share (based on 61,401,426 shares currently on issue);\n\n\n \n-Low initial capital of $37.8 million, including royalty buy-outs, contingency of US$4.8 million, but not including working capital of US$6.8 million;\n\n\n \n-After-tax IRR of 31% at $1280 gold price and 51.5% at $US1500/oz gold price;\n\n\n \n-Short pay-back period of nominally 1.65 years at $US1280/oz gold price,\n\n\n \n-Average annual gold production of 42,500 ounces and 44,250 ounces of silver; \n\n\n \n-Average cash cost of $577/oz. of gold produced for the first two years of operation and $872/oz. thereafter, for an average cash cost is $796/oz gold;\n\n\n \n-10-year operation, including 2-year tail of gold and silver recovery after mining;\n\n\n \n-Contract mining with room for significant improvement on mining costs with owner-operated minin...

More updates from Canamex Gold Corp