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Cordoba Announces Positive Preliminary Feasibility Study Results for the 100%-Owned Alacran Deposit within the San Matias Copper-Gold-Silver Project in Colombia
LOM Production of 849 Mlbs Copper, 0.7 Moz Gold, and 4.7 Moz Silver $415M After-Tax NPV8%,...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Announces Positive Preliminary Feasibility Study Results for the 100%-Owned Alacran Deposit within the San Matias Copper-Gold-Silver Project in ColombiaLOM Production of 849 Mlbs Copper, 0.7 Moz Gold, and 4.7 Moz Silver$415M After-Tax NPV8%, 25.4% After-Tax IRR at $3.60/lb CopperAt Current Spot Metals Prices, After-Tax NPV8% Increases to $650.7M and After-Tax IRR to 32.7%Vancouver, British Columbia--(Newsfile Corp. - January 11, 2022) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB:CDBMF) otherwise \"Cordoba\" or the \"Company\") is pleased to announce positive results from the Preliminary Feasibility Study (\"PFS\") for the Alacran Copper-Gold-Silver Deposit, located within Cordoba's 100%-owned San Matias Project in Colombia (the \"Project\"). The PFS has been independently prepared by Nordmin Engineering Ltd. (\"Nordmin\") of Thunder Bay, Ontario, and all amounts are in United States dollars, unless otherwise stated. Summary results of the PFS are shown below in Table 1.Highlights:Probable Mineral Reserves totalling 102.1 Mt grading 0.41% copper, 0.26 g/t gold, and 2.30 g/t silver diluted.22,000 tonnes per day (\"tpd\") open pit mining operation, with average annual production of 68.8 Mlbs copper, 55 koz gold, and 386 koz silver, over a 13-year Life of Mine (\"LOM\"). Low overall strip ratio of 1.1.During the first 6 years of production, copper, gold and silver grades within the fresh and transition rock are expected to average 0.61%, 0.29 g/t and 3.50 g/t respectively. Total recovered production of 849 Mlbs copper, 0.7 Moz gold, and 4.7 Moz silver, with metallurgical recoveries averaging 92.5% copper, 78.1% gold, and 62.9% silver in copper and precious metals concentrates. The copper concentrate is expected to contain very low contents of deleterious elements, such as arsenic and lead.Copper C1 cash costs averaging $2.59/lb copper (before credits), and $1.18/lb net of precious metals by-product credits.Initial capital expenditures total $434.9 million. LOM capital expenditures, including sustaining capital, reclamation and closure costs total $591.0 million.After-tax NPV8 of $415.1 million and IRR of 25.4%, representing a 2.9-year payback using the same metals price assumptions.Financial analysis shows that 60%, or $292.1 million of the $434.9 million initi...