TSX-V-listed Kore Mining has announced the results from a preliminary economic assessment (PEA) for its Long Valley Gold deposit, in California, demonstrating its potential to generate strong economic returns, while complying with stringent operating and reclamation standards.
The PEA highlights include an aftertax net present value, at a 5% discount, of $263-million and an internal rate of return of 40%, using a $1 600/oz gold price.
The mine will deliver 100 000 oz/y over seven years, at an all-in sustaining cost of $732/oz.
Kore Mining has a vision of producing 250 000 oz/y from projects in the US. The company also owns the Imperial project, in California, which will deliver 146 000 oz/y, according to a recently published PEA.
“Kore has the unique advantage of having two simple, low-cost heap leach development projects in one company and can manage capital needs for growth, permitting and construction to maximise shareholder value,” comments CEO Scott Trebilcock.
The next step at Long Valley would be to grow the deposit by drilling oxide and sulphide targets, while further defining silver potential.