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Cartier Resources Files on SEDAR the NI 43-101 Technical Report of the Preliminary Economic Assessment for Chimo Mine Project Post-Tax NPV5% of CAD$388M and 20.8% IRR
Highlights: Long term gold price of US$1,750/oz, Exchange rate of CAD $1.00 = US$0.77 Post-tax NPV5% of CAD$388M and IRR of 20.8% Post-tax payback period of 2.9
About this update from Cartier Resources Inc.
[{"type":"text","content":" Highlights: Long term gold price of US$1,750/oz, Exchange rate of CAD $1.00 = US$0.77 Post-tax NPV5% of CAD$388M and IRR of 20.8% Post-tax payback period of 2.9 years and mine life of 9.7 years Capex of CAD$341M Average all-in sustaining cost of US$755/oz Average annual production of 116,900 oz 4,500 tpd underground operation Average sorted grade of 4.55 g/t Au for mill feed Processing plant with capacity of 3,000 tpd and rate of recovery of 93.1% Sorting of mineralization increases the grade of material prior to milling operations and recovery rate and also reduces costs of mill construction, material handling, milling and restoration leading to a reduced environmental footprint of mine tailings and thus increasing the social acceptability of the project VAL-D'OR, Quebec, May 29, 2023 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces that it has filed on SEDAR the NI 43-101 technical report of the Preliminary Economic Assessment (“PEA”) titled “NI 43-101 Technical Report and Preliminary Economic Assessment for the Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East Cadillac Properties, Quebec, Canada”, prepared in accordance with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”). This NI 43-101 compliant report produced by InnovExplo Inc. for Cartier presents the results of the Preliminary Economic Assessment (“PEA”) for the Chimo Mine Property and the West Nordeau Gold Deposits, located along the Larder Lake - Cadillac fault, 45 km east of Val-d'Or, Quebec, Canada. The report is available on SEDAR and on the Company's website. “The positive results of the study demonstrate the economic viability* at the PEA-level for the project as well as several optimization opportunities related to the characteristics of the Project. Two drills are in operation on the property and the results continue to increase the size of the gold zones with a view to continuing to increase the project's resources,” commented Philippe Cloutier, President and CEO. Adding, that: “strategic solutions are being studied to further push the development of the project.” *: Cautionary Statement - The reader is advised that the PEA summarized in this news release is intended to provide only an initial, high-level review of the project potential and design options. The PEA mine plan and e...