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Stratabound Announces Positive PEA for Fremont Gold Project; 11 Year Mine Life with Average Annual Production of 118,000 Gold Ounces at an AISC of US$1,082/oz and an After-Tax NPV5% of US$210M
Toronto, Ontario--(Newsfile Corp. - February 15, 2023) - Stratabound Minerals Corp. (TSXV: SB) (...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Stratabound Announces Positive PEA for Fremont Gold Project; 11 Year Mine Life with Average Annual Production of 118,000 Gold Ounces at an AISC of US$1,082/oz and an After-Tax NPV5% of US$210MToronto, Ontario--(Newsfile Corp. - February 15, 2023) - Stratabound Minerals Corp. (TSXV: SB) (\"Stratabound\" or the \"Company\") is pleased to announce positive results from the independent Preliminary Economic Assessment (\"PEA\") for its 100% owned Fremont Gold Project (the \"Project\") located in the Mother Lode Gold Belt, north central California. Highlights:After-tax net present value (\"NPV\") (discount rate 5%) of US$210M, internal rate of return (\"IRR\") of 21% and payback of 4.2 years at a gold price of US$1,750/oz11-year mine life producing 1,303,000 ounces of goldAverage annual gold production of 118,000 ounces over life of mine (\"LOM\"), with a peak production of 157,000 ounces in the 4th yearAverage cash cost of US$872/oz and all-in sustaining cost (\"AISC\") of US$1,082/oz goldInitial Capital Expenditure of US$203MAnnual process plant rate of 2.19 M tonnes at an average feed grade of 2.4 g/t Au and average overall gold recovery, including offsite processing, of 75.4%The PEA is preliminary in nature, includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There are no Mineral Reserves contained in the PEA.P&E Mining Consultants Inc. (\"P&E\") were retained as an independent consultant and Qualified Persons in March 2022 to undertake a Mineral Resource Estimate (\"MRE\") and PEA on the Fremont Gold Project in accordance with National Instrument 43-101 (\"NI 43-101\"). Kappes, Cassiday & Associates (\"KCA\") was also engaged for the design and capital and operating costs for the process plant, heap leach facility and project infrastructure. Kim Tyler, President and CEO of Stratabound, stated today, \"This PEA provides a solid, conservative base case and a clear path forward with plenty of runway to build and improve upon. Only 35% of mineralized strike and two of four mineralized zones have been defined and evaluated to date....