Business
Steppe Gold files updated preliminary economic assessment on Tres Cruces oxide gold project
(NewsDirect) Steppe Gold executive vice president Aneel Waraich joined Steve Darling from...
About this update from Steppe Gold Ltd.
[{"type":"text","content":"Steppe Gold files updated preliminary economic assessment on Tres Cruces oxide gold project\n \n \n (NewsDirect)\n \n \n \n \n Steppe Gold executive vice president Aneel\nWaraich joined Steve Darling from Proactive to unveil significant news\nabout the successful completion of an updated preliminary economic\nassessment for the Tres Cruces Oxide Gold Project situated in\nPeru.\n \n \n The project is strategically\nlocated within a highly promising geological belt that has already\nyielded notable mining successes, such as the Lagunas Norte and La\nArena mines.\n \n \n Waraich shared with\nProactive the key findings from the assessment. The Tres Cruces\ndeposit boasts a substantial resource, combining oxide and sulphide\ncategories, with an indicated resource of 2,474,000 ounces of gold at\na grade of 1.65 g/t. Notably, within this resource, 630,000 ounces are\nattributed to leachable gold oxide mineralization, with a grade of\n1.28 g/t.\n \n \n Intriguingly, infill\ndrilling conducted in 2022 validated the continuity of mineralization\nwithin the deposit. Metallurgical tests further confirmed the\nproject's viability, with average gold recoveries of 82%,\nvalidating the design assumptions. Even when considering a gold price\nof $1700 per ounce, the after-tax net present value of the project\nstands at an impressive $158 million, accompanied by a robust internal\nrate of return of 30.9%.\n \n \n Despite\nchallenges posed by inflation-related cost increases, the\nproject's economic strength remains substantial, suggesting\nsignificant potential for growth.\n \n \n Steppe Gold's dedicated team continues to systematically\nadvance the oxide project, with a notable exploration potential still\nopen at deeper levels.\n \n \n These positive results underscore the\nsoundness of Steppe Gold's approach to resource development, as\nwell as its capacity to navigate market dynamics and deliver strong\nfinancial outcomes.\n \n \n \n Contact Details\n \n \n \n Proactive\nCanada\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2622,"tagName":"div"}]