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Anacortes’ Tres Cruces PEA estimates $166m NPV

11th March 2022

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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Vancouver-based Anacortes Mining is pleased with the outcomes of its preliminary economic assessment (PEA) for the Tres Cruces gold oxide project, in northern Peru, with the study yielding robust economics.

The PFS calculated an aftertax net present value of $165.9-million and an internal rate of return of 33%, with a 2.1-year payback at a gold price of $1 700/oz.

Tres Cruces will produce an average of 68 000 oz/y over an initial seven-year mine life, with peak output of 81 000 oz in year two.

Initial capital expenditure has been estimated at $125.2-million.

“The Tres Cruces oxide project PEA shows excellent economics for the proposed heap leach operation, located in one of the world’s most prolific gold mining belts,” said CEO Jim Currie.

He stated that Anacortes would aggressively advance the development of the oxide resource and emphasised that Tres Cruces had exceptional exploration potential at depth.

“The existing 1.9-million-ounce sulphide gold resource below the oxide cap will be further evaluated with our upcoming drill programme. This programme will deepen holes that ended in wide zones of higher-grade mineralization to test the extent of the deposit and include infill drilling to increase the confidence in the resource as we move Tres Cruces forward.”

This mineralization includes 173.0 m averaging 3.118 g/t gold from 92 m to 265 m in hole RTC-255, which ended in mineralization.

Edited by Creamer Media Reporter

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