Business
Zephyr announces initial mine plan design and cost estimate for the Dawson gold deposit in Colorado
Trading Symbol:  TSX-V: ZFR Shares Outstanding: 24,395,961 HALIFAX , Aug. 27, 2015 ...
About this update from Zephyr Minerals Ltd.
[{"type":"text","content":"\n\nTrading Symbol:  TSX-V: ZFRShares Outstanding: 24,395,961\n\n\n\nHALIFAX, Aug. 27, 2015 /CNW/ - Zephyr Minerals Ltd. (\"Zephyr\" or the \"Company\") (TSX-V: ZFR) is pleased to announce completion of a preliminary mine plan and cost estimate (\"Mine Plan\") for its 100% owned Dawson Property located in Freemont County, Colorado, U.S.A.  MineTech International Limited of Halifax, Nova Scotia completed the work at a preliminary economic assessment (\"PEA\") level of accuracy.  The Mine Plan addresses all aspects pertaining to mine design, mine scheduling, mining method, proposed equipment, manpower, capital cost (capex) and operating cost (opex), but does not include milling or general and administrative costs.\n\nHighlights include:\n\n\nRecoverable ounces gold to mill – approx. 27,200 oz/year; total in current Mine Plan – 116,100 ounces \nMining Cost* - Underground - US$80/ton (US$88./tonne)\n\n\nUS$323/oz\nOpen pit - US$36/ton (US$37/tonne)\n\nUS$125/oz\nCapital Cost - US$12.3 million \nMining Rate - Daily - 300 tons (272 tonnes) \nYearly – 110,000 tons (100,000 tonnes) \nDiluted Recoverable Resources** in current Mine Plan\n\nDawson Segment – 451,000 tons @ 0.25 oz/ton (409,000 tonnes @ 8.53 g/t) \nWindy Gulch Segment – 14,700 tons @ 0.27 oz/ton (13,400 tonnes @ 9.2 g/t) \nTotal – 466,000 tons@ 0.25 oz/ton (422,[email protected] g/t)\nDilution – 7.5 to 23%; average 14.5% \nMine Access (U/G) – Portal and 15 ft. x 11 ft., -15% decline (4.6 x 3.4m) totaling approximately 2,500 ft. (762 m) to the 6125 ft level in year 1 \nMining Method – Predominantly fully mechanized; longhole sublevel open stoping\n* Mining costs include all development and production costs. Capital costs are not included.** Recoverable resources estimated utilizing a 3.0 g/t cutoff, 40 g/t cap and a 95% mine recovery.\n\nRecommendations include completion of the mine permitting process, tailings dam design, completion of a limited drill program at Windy Gulch and completion of a PEA at a total budgeted cost of $900,000.  The drill program at Windy Gulch will focus on adding resources to the current inferred resource of 52,000 tonnes grading 9.89 g/t (4.0 g/t cutoff and 40 g/t cap).  The proposed open pit at Windy Gulch currently incorporates approximately 25% of these resourc...