Business
Cordoba Minerals Proudly Announces the Completion of the NI 43-101 Feasibility Study for the Alacran Project in Colombia
The 2023 Feasibility Study Results Demonstrate an Economically Attractive Project, with an After-...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Proudly Announces the Completion of the NI 43-101 Feasibility Study for the Alacran Project in ColombiaThe 2023 Feasibility Study Results Demonstrate an Economically Attractive Project, with an After-Tax Net Present Value of US$359 Million, and an Internal Rate of Return of 23.8% with a Payback Period of 3 YearsVancouver, British Columbia--(Newsfile Corp. - December 18, 2023) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB)  (OTCQB: CDBMF) (\"Cordoba\" or the \"Company\"), is pleased to announce that Cordoba has completed a Feasibility Study (\"Feasibility Study\") prepared in accordance with the National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") for the Company's flagship Alacran Project (\"Alacran or Project\"). The Board of Directors for Cordoba unanimously approved the completion and filing of the Feasibility Study on December, 14, 2023. Information from the Feasibility Study has been used as the basis for the Environmental Impact Assessment (\"EIA\").The Alacran Project is situated in the municipality of Puerto Libertador, which is approximately 390 km northwest of Bogotá, and 160km north of Medellín in Colombia, amongst 22 mining concessions owned by the Company, of which, 5 licenses are part of the Alacran Project. The Company conducted several exploration programs between 2012 and 2023, consisting of geological mapping, geochemical sampling, geophysical surveys, and various drilling campaigns, that supported the completion of the 2019 Preliminary Economic Assessment, the 2022 Pre-Feasibility Study, and the current 2023 Feasibility Study, which marks the beginning of the development phase for the Project.Key highlights of the Feasibility Study:Initial Capital Cost (\"CAPEX\") is estimated to be approximately US$420.4 million for the construction of a conventional truck-shovel open pit mine;The Project is anticipated to hold an after-tax Net Present Value (\"NPV\") of US$360 million with an Internal Rate of Return (\"IRR\") of 23.8% and a payback period of 3 years;The Project's mine life is projected to be 14.2 years in addition to the estimated two years of construction and pre-production mining, of which, freshly mined ore will be stockpiled alongside historical tailings;The life of mine (\"LOM\") ...