F E B R U A R Y / M A R C H 2 0 1 9
www.resourceworld.com 13
with 202,000 oz gold inferred.
The Feasibility Study's base case uses a
gold price of US $1,250/oz and generates
a Life-of-Mine after-tax free cash flow of
$150 million, an IRR of 23%, an after-tax
NPV-5% of $54 million, an average annual
after-tax cash flow from operations of $21
million per year, an average operating
margin per ounce of $364 and a payback
period of 3.1 years. Annual production
will be 62,800 oz gold.
Nevada Copper Corp. [NCU-TSX] is
building its fully permitted Pumpkin
Hollow open pit and underground copper-
gold-silver mines near Yerington with a
target production date of Q4 2019. Shaft
sinking and lateral underground devel
-
opment is well underway. Process facility
earthworks are ahead of schedule. The
Integrated Project includes a large scale
open pit and underground project with
reserves of 5 billion pounds of copper, 0.76
million oz gold and 27.6 million oz silver.
Average annual copper production will be
50 million lbs (60 Mlbs years 1 to 5). First
five-year copper grades will average 1.81%
(2.01% CuEq).
Nevada Exploration Inc. [NGE-TSXV;
NVDEF-OTCQB] has discovered a large
hydrothermal system at its South Grass
Valley Project 50 km south of Barrick's
Cortez Hills Mine. Core drilling found
intense and widespread hydrother
-
mal alteration across three drill holes,
together nearly 2,500 metres apart, and
that the assay results from the first two
holes received to date confirm this wide-
spread alteration is associated with
significant (>200-metre) intervals of
enriched Carlin-type gold deposit (CTGD)
pathfinder elements. The elements previ-
ously announced in holes SGVC002 and
SGVC003 have now extended the footprint
a further 1,200 metres to the south.
"Big deposits are the function of big
systems and big systems have big foot
-
prints. We're not looking for a small
deposit – we're looking for another Cortez
Hills, so we're already biasing our selection
to places where we're seeing large foot-
prints," said James Buskard, President.
"There's been some terrific research
