TSX-V-listed Gold Reach Resources this week announced the results of a preliminary economic assessment (PEA) on its 100%-owned Ootsa copper/gold/molybdenum project, located in west-central British Columbia, pointing to a profitable operation despite the depressed gold-price environment.
Gold Reach advised that the conceptual study demonstrated the potential to develop the Ootsa project by making use of contract mining and toll milling at low initial capital cost to deliver a base case after-tax net present value of C$186-million and an after-tax internal rate of return (IRR) of 81%.
