Deer Horn Metals Inc. (TSXV:DHM) announced positive results from a NI 43-101 Preliminary Economic Assessment (PEA) from the Deer Horn gold-silver-tellurium project in BC. The PEA shows that the Deer Horn deposit represents an excellent economic opportunity, with a 2.4 Year Payback and 14 Year Mine Life.
As quoted in the press release:
Total Tonnes to Mill 949,000————————————-Annual Tonnes to Mill 74,000————————————-Average Grades:Gold (grams per tonne) 2.45Silver (grams per tonne) 77Tellurium (ppm) 74————————————-Total Production:Gold (ounces) 67,000Silver (ounces) 2,112,000Tellurium (kg) 63,000
Deer Horn Metals Inc. President and CEO, Tyrone Docherty said:
The robust economic return set out in the PEA provides excellent momentum to take the Project to the next level of development. We are currently exploring numerous financing avenues to enable us to proceed with further in-fill and step-out drilling, engineering and environmental programs which will allow us to complete a Preliminary Feasibility Study and a Permit Application for Mine Development. At that point, we will have successfully taken the Deer Horn project to financeable reserve status. The PEA encompasses only a 450 metre portion of a gold-silver-tellurium system that the company has mapped to be at a minimum of 2.4 km in length. Thus we are excited at the potential for future mine development along the strike length.