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Positive Preliminary Economic Assessment for Murray Brook Zn-Cu-Pb-Ag Deposit, Bathurst Mining Camp, New Brunswick
VANCOUVER , June 5, 2013 /CNW/ - El Nino Ventures Inc. ("ELN" and the "Company") (TS...
About this update from Metalquest Mining Inc
[{"type":"text","content":"\n\n\nOverview\nPre-production capital requirements $261 million\n\n\nMill throughput of 2 million tonnes of ore per annum- 6,000 tonnes per\n day\n\n\nLife of Mine 9.5 years\n\n\nLife of Mine Production: 239,000 tonnes of copper concentrate, 122,000\n tonnes of lead concentrate\nand 770,000 tonnes of zinc concentrate\n\n\nTotal Net Smelter Return Revenue $1,246 million\n\n\nFurther metallurgical studies planned\n\n\nExcellent exploration upside with additional drilling plans on adjacent\n Camel Back Claims\n\n\n\n\n\n\nVANCOUVER, June 5, 2013 /CNW/ - El Nino Ventures Inc. (\"ELN\" and the\n \"Company\") (TSX.V: ELN; OTCQX: ELNOF Frankfurt: E7Q) is pleased to\n announce the results of an NI 43-101 Preliminary Economic Assessment (\"PEA\") for the Murray Brook polymetallic massive sulfide deposit, New Brunswick\n (the \"Project\"). The results of the PEA demonstrate the potential\n technical and economic viability of establishing a new mine and mill\n complex on the Murray Brook property.  The projected cash flows\n indicate an after-tax NPV at a 5% discount rate of $96.4 million, an\n IRR of 11.4%, and a payback period of 5.4 years (see table 1). An NI\n 43-101 Technical Report will be filed on SEDAR within 45 days of the\n date of this press release.\n\n\nHarry Barr, ELN's Chairman & CEO commented, \"The results of the PEA\n clearly indicate that there is an indicative basis for a mining project\n at Murray Brook. There is excellent potential to further enhance the projected economics\n of the project, through continued refinements in metal recoveries as\n well as the potential to augment existing resources by achieving an\n exploration success on the adjacent Camel Back claims.  With forecasts of increased metal demand and dwindling supply, the\n positive PEA results for the Murray Brook project provide ELN\n shareholders with the potential to benefit from the predicted upward\n trend in zinc prices over the next few years\".\n\n\nUnless otherwise noted, all amounts in this press release are expressed\n in Canadian currency. The PEA is prepared for 100% ownership of the\n project revenues and expenditures. As noted below, ELN holds a 35%\n interest in the project.  The PEA includes Inferred mineral resources\n that are considered too speculative geologically to have the economic\n considerations applied to t...