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GMV Minerals Inc. Announces Positive Preliminary Economic Assessment (PEA) Study on Mexican Hat Gold Project
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2018) - GMV Minerals Inc. (TSXV: GMV) (the "Company" or "GMV") is pleased to release the results of i
About this update from Gmv Minerals Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - November 7, 2018) - GMV Minerals Inc. (TSXV: GMV) (the \"Company\" or \"GMV\") is pleased to release the results of its preliminary economic assessment (the \"Study\") for the Mexican Hat Project gold deposit located in Cochise County, Arizona (\"Mexican Hat\" or the \"project\"). GMV Minerals Inc. is a publicly traded exploration company solely focused on developing precious metal assets in Arizona. PEA Highlights The base case assumes a gold price of US$1,325/ounce (\"oz\"). All figures are stated in U.S. Dollars (\"$\") unless otherwise noted. All tonnages are metric tonnes. Precious metal grades are in grams per metric tonne (g/t). The Technical Report pursuant to National Instrument (\"NI\") 43-101 guidelines for the Preliminary Economic Assessment will be filed on SEDAR within 45 days. Mine life of 5-years with a 1-year pre-production period Life of mine (\"LOM\") head grade of 0.66 g/t gold Low LOM Strip Ratio of 2.8 Total amount of gold recovered is estimated at 470,000 oz Average annual gold production of approximately 94,000 oz Peak annual gold production of approximately 118,000 oz LOM direct operating cash cost is estimated at $647/oz of gold recovered All-in sustaining cost is estimated at $747/oz of gold recovered LOM sustaining capital costs estimated at $36.4 million The Mexican Hat Mineral Resource is currently open in three directions and to depth Financial Indicators Before Taxes NPV @ 0% US$133.3 M NPV @ 5% US$101.0 M IRR % 33.0% Payback (years) 2.0 Financial Indicators After Taxes NPV @ 0% US$113.1 M NPV @ 5% US$83.9 M IRR % 29.0% Payback (years) 2.2 INITIAL CAPITAL EXPENDITURES ($ MILLIONS) Mine Initial Fleet Lease $14.9 Pre-Production Waste Removal $15.2 Process $105.0 Owner's Cost $5.0 Total $140.1 OPERATING COSTS The mine operating costs were calculated to average $1.84 per tonne moved. Area Unit Cost (USD$/t moved) Drilling 0.26 Blasting 0.30 Loading 0.17 Hauling 0.43 Auxiliary Equipment 0.25 Mine and Maintenance General 0.18 Mine General and Administra...