Integra delivers DeLamar PEA
Idaho-focused Integra Resources has published a preliminary economic assessment (PEA) for its DeLamar gold/silver project that outlines average yearly production of 124 000 oz of gold-equivalent at an all-in sustaining cost of $742/oz on a gold-equivalent basis.
Over its ten-year life, the mine will deliver 1.03-million ounces of gold and 16.60-million ounces of silver.
The project has an upfront capital expenditure estimate of C$213-million, an estimated after-tax net present value, at a 5% discount, of C$472-million, an after-tax internal rate of return of 43%.
“. . . the economics presented for DeLamar are truly exceptional,” comments CEO George Salamis.
“DeLamar’s ability to generate an estimated annual average after-tax free cash flow of C$81-million per year, further highlights the economic robustness of the project from a cash-flow and operating margin perspective.”
Salamis notes that the PEA itself is based on a resource estimate, 90% of which is in a measured and indicated category, thus subject to a high degree of confidence in the resource model that is backed by over 2 500 drill holes.
He adds that with respect to metallurgy, the assumptions made are robust for this level of study, given the 20-year long history of gold/silver processing and production on the site from 1978 to 1998 in addition to the large number of representative drill core composites and many tonnes of bulk samples collected for the purposes of this PEA.
The PEA study contemplates openpit mining of the DeLamar and Florida Mountain deposits. Openpit mine production is contemplated at 27 000 t/d equating to 9.7-million tonnes a year of mineralised leach feed material, in addition to 730 000 t/y of unoxidized mill feed from years three to eight.
With an average waste-to-mineralisation strip ratio of 1.09 to 1, the average mining rate is about 58 000 t/d of mineralised feed and waste material.
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