72,000 Ounces P/A Production Estimated From Beartrack-Arnett
Revival Gold Inc. (TSXV: RVG) has announced positive results from a Preliminary Economic Assessment (PEA) on the company’s Beartrack-Arnett phase one heap leach gold project located in Idaho, USA.
Beartrack-Arnett Phase One Heap Leach Gold Project – PEA Highlights.
- Production of 72,000 ounces of gold per year for a total of 506,000 ounces of gold over an initial seven-year mine life;
- Pre-production capital of $100 million and life-of-mine (LOM) sustaining capital of $61 million;
- Total cash cost of $809 per ounce and all in sustaining cost of $1,057 per ounce of gold;
- After-tax NPV at a 5% discount rate (NPV5%) of $88 million and after-tax IRR of 25% at $1,550 per ounce gold increasing to a $211 million NPV5% and 49% IRR at $1,950 per ounce gold;
- After-tax payback period of 3.0 years;
- Lower technical and execution risk of a brownfields project with existing infrastructure and recent history as the largest past-producing gold mine in Idaho; and,
- Excellent additional exploration potentialas demonstrated by this season’s drill results and with over 10km of favorable geological structure to explore.
* All amounts shown are in United States dollars and metric units of measurement unless otherwise stated.
“This PEA supports Revival Gold’s plans to resume meaningful heap leach gold production from Beartrack-Arnett with low re-start capital and robust economics,” Hugh Agro, President and CEO,” said.
“Beartrack-Arnett ranks as one of the largest independently-owned undeveloped gold deposits in the United States. As a brownfield site, Beartrack-Arnett offers significant existing baseline environmental data, infrastructure, and operating history for Revival Gold to utilise.
“This should translate into shorter permitting timelines and lower technical and execution risk. Over the course of the next two years Revival Gold will continue with its exploration strategy to expand the resource base at Beartrack-Arnett while progressing the first phase heap leach project towards a production decision.
“We also intend to evaluate the potential for a second phase sulphide milling project so that we might fully realise the inherent value of all the gold resources identified at Beartrack-Arnett to-date.
