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Paramount Gold Nevada Corp. Files Amended Preliminary Economic Assessment for Sleeper Gold Project in Nevada
WINNEMUCCA, Nev., Sept. 28, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) ("Paramount”) announced that at the request of the Ontario
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":"WINNEMUCCA, Nev., Sept. 28, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) (\"Paramount”) announced that at the request of the Ontario Securities Commission (the “OSC”), it has amended and restated its technical report (the “Amended and Restated Report”) related to the Preliminary Economic Assessment (the “Sleeper PEA”) on its 100% owned Sleeper Gold Project. The Sleeper PEA was originally contained in a technical report filed in December 2015 (the “Original Report”), and the OSC noted that the mineral resource estimate contained in the Original Report was not constrained by a pit and may have included mineralization that did not meet CIM Definition Standards. The mineral resource estimate is now reported within an economic whittle pit optimization at the same economic parameters identified in the Original Report and has been restated as follows: Sleeper Project Pit Constrained Mineral Resource Estimate Classification Tonnes (x1,000) Au Grade (gpt) Au Oz(x1,000) Ag Grade (gpt) Ag Oz(x1,000) Measured 209,464 0.35 2,354 3.2 21,823 Indicated 87,662 0.28 789 2.5 7,065 Measured and Indicated 297,126 0.33 3,143 3.0 28,888 Inferred 148,844 0.31 1,488 1.4 6,698 Note: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Sleeper Preliminary Economic Assessment remains unchanged as follows: Projected Economic and Physical Performance Parameters for the Sleeper Evaluation Using Base Case, Spot Price and Long Term Price Assumptions Parameter Base Case Spot Price Case Long Term Price Case Gold Price Assumption US$1,250 US$1,185 US$1,400 Silver Price Assumption US$16 US$16 US$16 In-pit Measured Material (000’s) 32,956 32,956 32,956 In-pit Indicated Material (000’s) 10,089 10,089 10,089 In-pit Inferred Material (000’s) 34,924 34,924 34,924 Pre-tax Net Cash Flow US$290.5 M US$241.6 M US$405.5 M Pre-tax Net Present Value (NPV) at 5% US$201.8 M US$161.7 M US$296.4 M Internal Rate of Return Pre-tax (IRR) 28.4% 24.1% 38.1% After tax Net Cash Flow US$198.5 M US$165.0 M US$277 M After tax Net Present Value (NPV) at 5% US$125.8 M US$98.3 M US$190.5 M After tax Internal Rate of Return (%) 20% 17% 27% Overall Strip Ratio (overburden:mineral...