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Cerrado Gold Files Technical Report for Its Monte Do Carmo Gold Project in Tocantins State, Brazil
After Tax NPV 5  US$617million with IRR 94.8% Toronto, Ontario--(Newsfile Corp. - Octo...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Files Technical Report for Its Monte Do Carmo Gold Project in Tocantins State, BrazilAfter Tax NPV5 US$617million with IRR 94.8%Toronto, Ontario--(Newsfile Corp. - October 7, 2021) - CERRADO GOLD (TSXV: CERT) (OTCQX: CRDOF) (\"Cerrado\" or the \"Company\") announces the filing on SEDAR (www.sedar.com) of the new NI 43-101 Preliminary Economic Assessment (\"PEA\") entitled \"Independent Technical Report - Update Preliminary Economic Assessment for Serra Alt Deposit\". The report was completed by GE21 Consultoria Mineral Ltda (\"GE21\"). The report was prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 (\"NI 43-101\") Standards of Disclosure for Mineral Projects. A summary of the results is highlighted below.As announced on August 23, 2021 the new PEA incorporated results from the NI 43-101 Mineral Resource Estimate produced by MICON International dated July 21, 2021.Average annual gold production of 149,000 ounces over first 5 years and 131,000 ounces over LOM 8 years Annual Average Free cash flow of US$150 million over the first 5 years @ $1,600 AuTotal cumulative, after tax, free cash flow estimated US$901 million over 8 yearsAverage AISC of US$431/oz over the first 5 years Low Initial Capex of US$126 million (including US$25 million contingency)Payback of 1.3 yearsFurther upside potential from continued exploration drilling & resource expansionDevelopment program including Feasibility Study to begin immediately, EIS UnderwayTo view an enhanced version of this table, please visit:https://orders.newsfilecorp.com/files/7487/98943_bfc5c25cf4e6d825_002full.jpgIndependent Qualified PersonsPorfírio Cabaleiro Rodriguez, Mining Engineer, BSc (Mine Eng), MAIG, director of GE21 Consultoria Mineral Ltda and B. Terrence Hennessey, P.Geo., Vice President of MICON International Limited, are the Qualified Persons as defined in NI 43-101 responsible for the Technical Report and are both independent of the Company.Quality Assurance Quality Control:The scientific and technical information in this press release has been reviewed and approved by Porfírio Cabaleiro Rodriguez, Mining Engineer, BSc (Mine Eng), MAIG, director of GE21 Consultoria Mineral Ltda, and B. Terrence Hennessey, P.Geo., Vice President of MICON International Limited, both of whom are Qualified Persons as def...