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West Vault Receives Federal Permit to Mine Hill-of-Gold Satellite Deposit
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2021) - West Vault Mining Inc. (TSX...
About this update from West Vault Mining Inc
[{"type":"text","content":"West Vault Receives Federal Permit to Mine Hill-of-Gold Satellite DepositVancouver, British Columbia--(Newsfile Corp. - December 2, 2021) - West Vault Mining Inc. (TSXV: WVM) (OTCQX: WVMDF) (\"West Vault\" or the \"Company\") is pleased to announce receipt of a federal permit which allows mineralized material to be mined at the Hill-of-Gold satellite deposit. Mineralized material from the Hill-of-Gold property is planned to be hauled 2.5 miles for processing at the fully-permitted Three Hills Mine, which is phase one of the Hasbrouck Gold Project, immediately followed by mining at the phase two Hasbrouck Mine. A sensitivity analysis in a Pre-feasibility Study Technical Report (defined below), which does not include the Hill-of-Gold, estimates a 92% IRR at a price of $1,800 per Troy ounce of gold. The effect of adding Hill-of-Gold mineralized material is likely to be positive to the Hasbrouck Gold Project economics. See map and photo below:Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/3137/106336_76ee2ba14475e96a_001full.jpg  Figure 2To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/3137/106336_76ee2ba14475e96a_002full.jpgHill-of-Gold has a non-National Instrument 43-101-compliant historic resource of 43,000 gold ounces which is not included in the Technical Report on the Hasbrouck Gold Project. A qualified person has not done sufficient work to classify the Hill-of-Gold Historical Estimate as current mineral resources or mineral reserves, and the Company is not treating the Hill-of-Gold Historical Estimate as current mineral resources or mineral reserves.The Company acquired a 100% interest in the Hill-of-Gold property in February 2021 in exchange for a one-time payment of US$250,000. West Vault continues to add value for long term investors seeking a low-risk/high-gold exposure investment strategy.About the Hasbrouck Gold ProjectThe Hasbrouck Gold Project consists of three all-oxide gold-silver deposits eight km apart, near the Town of Tonopah in southern Nevada. A Pre-feasibility Study supports that the Three Hills and Hasbrouck deposits, but not including the Hill-of-Gold deposit, can be open-pit mined with:92% after-tax IRR, at $1,800 goldUS$297M after-tax NPV(5)US$47M initial capital70,000 gold ounces produced per year ...