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GMV Minerals Files Preliminary Economic Assessment Technical Report on SEDAR for the Mexican Hat Gold Project
Vancouver, British Columbia--(Newsfile Corp. - December 19, 2018) - GMV Minerals Inc. (TSXV:...
About this update from Gmv Minerals Inc
[{"type":"text","content":"GMV Minerals Files Preliminary Economic Assessment Technical Report on SEDAR for the Mexican Hat Gold ProjectVancouver, British Columbia--(Newsfile Corp. - December 19, 2018) - GMV Minerals Inc. (TSXV: GMV) (the \"Company\" or \"GMV\") is pleased to announce that further to its news release dated November 7th, 2018, the Company has filed on SEDAR a National Instrument 43-101 (NI 43-101) preliminary economic assessment (PEA) technical report for the Mexican Hat Gold Project, located in SE Arizona, USA. The technical report is available under the Company's profile on SEDAR and will also be available on the company's website.The NI 43-101 PEA technical report is entitled \"Mexican Hat Project, NI 43-101 Technical Report, Preliminary Economic Assessment\" effective December 06, 2018, and signed December 18, 2018. Since the publication of the Company's draft findings in its November 7th, 2018 news release it wishes to announce the following material changes to the final report.The price of gold used in the base case scenario has been amended to US$1,300 per ounce (formerly US$1,325 per ounce).The crushing circuit has been modified to be a two-stage open circuit plant. The construction sequence has been modified to allow for a staged progression of the heap leach pad. These modifications are reflected in the figures shown below.PEA HighlightsThe base case assumes a gold price of US$1,300 per ounce (oz). All figures are stated in U.S. Dollars ($). All tonnages are metric tonnes. Precious metal grades are in grams per metric tonne (g/t).Mine life of 5-years with a 1-year pre-production periodCrushed mineralized material will be conveyor stacked at a rate of approximately 15,000 tonnes per day on a conventional heap leach padLife of mine (LOM) head grade of 0.66 g/t goldLow LOM Strip Ratio of 2.8Total amount of gold recovered is estimated at 470,000 ozAverage annual gold production of approximately 94,000 ozPeak annual gold production of approximately 118,000 ozLOM direct operating cash cost is estimated at $658/oz of gold recoveredAll-in sustaining cost is estimated at $764/oz of gold recoveredLOM sustaining capital costs is estimated at $40.0 millionThe Mexican Hat Mineral Resource is currently open in three directions and to depthFinancial Indicators Before Taxes     NPV @ 5% $93.8 million     IRR %33.1%&...