Business
Cordoba Announces Positive Preliminary Economic Assessment for the San Matias Copper-Gold-Silver Project
Total Estimated Production: 417,300 Tonnes of Copper, 724,500 Ounces of Gold, 5,930,000 Oun...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Announces Positive Preliminary Economic Assessment for the San Matias Copper-Gold-Silver ProjectTotal Estimated Production: 417,300 Tonnes of Copper,724,500 Ounces of Gold, 5,930,000 Ounces of Silver Estimated $347.0 million Pre-Tax NPV8% and 26.8% Pre-Tax IRR;$210.7 million After-Tax NPV8% and 20.3% After-Tax IRRHigh-Grade Gold and Porphyry Copper Upside at San MatiasVancouver, British Columbia--(Newsfile Corp. - July 29, 2019) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (\"Cordoba\" or the \"Company\") today reported results from an independent Preliminary Economic Assessment (\"PEA\") for its San Matias Copper-Gold-Silver Project (\"San Matias\" or the \"Project\") in Colombia. The PEA was prepared by Nordmin Engineering Ltd. (\"Nordmin\") of Thunder Bay, Ontario, and includes revisions to the June 2019 San Matias Mineral Resource estimate that was completed by Nordmin (refer to Cordoba's news release dated July 3, 2019). All amounts are in United States dollars, unless otherwise stated. Summary results of the PEA are shown below in Table 1.San Matias PEA Highlights:Conceptual 8,000 tonnes per day (\"tpd\") conventional open pit mining operation, increasing to 16,000 tpd after the processing plant expansion is completed in Year 6 - underpinned by 119.1 million tonnes of modeled mill feed grading 0.45% copper, 0.26 g/t gold and 2.41 g/t silver, supporting a 23-year life of mine. During the first five years, the PEA includes copper, gold and silver grades averaging 0.67%, 0.30 g/t and 3.74 g/t respectively with a low strip ratio of 0.82:1.PEA life of mine (\"LOM\") production of 417,300 tonnes of copper, 724,500 ounces of gold and 5,930,000 ounces of silver contained in a clean copper concentrate and precious metals doré. The copper concentrate is expected to contain very low contents of deleterious elements, such as arsenic and lead.Estimated annual copper production of 15,400 tonnes in concentrate in Years 1 to 5; increasing to 20,700 tonnes in Years 6 to 16; and averaging 18,100 tonnes per year over the total 23-year PEA life of mine.Average LOM C1 cash costs of $1.32 per pound of copper, net of precious metals by-product credits. Initial capital expenditures of $161.4 million, expansion capital expenditures of $120.6 million and total PEA life of mine capital expenditures, including sustaining capi...