The Global Resource For Connecting Buyers and Sellers

NGEx Releases PEA Combining Los Helados and Josemaria

NGEx Resources (TSX:NGQ) announced results of a preliminary economic assessment that looks at its two copper-gold-silver deposits, Los Helados and Josemaría, as an integrated project.

As quoted in the press release:

Project Constellation PEA Highlights:

  • Large, robust resource, with most of the mine plan derived from Indicated Mineral Resources (86%);
  • A sequential mine plan that takes advantage of the early, higher grade material accessible at Josemaría followed by the higher grade core at Los Helados; many optimization opportunities exist;
  • Development capital costs for the Los Helados block cave would be paid for through operating cash flows from the Josemaría open pit, dramatically reducing the initial capital required;
  • Estimated 48-year mine life with potential for extension and/or throughput expansion (only 37% of the total Josemaría mineral resource is included in the PEA mine plan);
  • Life of mine production totals 7.1 million tonnes of copper (15.7 billion lbs), 8.5 million ounces of gold, and 55.6 million ounces of silver;
  • Forecast lowest quartile C-1 costs per pound of copper net of by-products;
  • Excellent metallurgy yielding a clean, 29% copper concentrate, with high precious metals content; and
  • Clear opportunities to improve project economics by realizing additional potential synergies with nearby deposits.

Project Opportunities

  • Optimizing the integrated mine plan and considering opportunities for both expansion and mine life extension as significant resources remain outside the current PEA production plan;
  • Recovery of gold from oxide cap at Josemaría;
  • Increasing metallurgical recoveries with further test work and optimization;
  • Delineating more or higher grade feed material for the process plant through continued exploration on the Company’s extensive land package; and
  • The new government in Argentina is revising the tax code to encourage foreign investment. The 10% export tax has been lifted for gold, agricultural commodities, and industrial goods. If it is also lifted for copper concentrate export, there would be a significant positive impact on Project Constellation.

Click here for the full press release.

From-LME-Copper-to-Copper-ETFs-copy  Updated December 2015

Get Our Expert Guide to Copper Investing FREE!

Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.

The post NGEx Releases PEA Combining Los Helados and Josemaria appeared first on Investing News Network.