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Integra Gold Corp. (TSXV:ICG,OTCQX:ICGQF) released the results of an updated preliminary economic assessment (PEA) for its Quebec-based Lamaque South gold project. The new PEA includes resources from the fall 2016 resource estimate for the project.
Integra Gold Corp. (TSXV:ICG,OTCQX:ICGQF) released the results of an updated preliminary economic assessment( PEA) for its Quebec-based Lamaque South gold project. The new PEA includes resources from the fall 2016 resource estimate for the project.
Highlights of the updated PEA include:
- Average annual gold production for first full 8 years estimated at 135,000 ounces, average annual gold production for Life of Mine (“LOM”) estimated at 123,000 ounces, and total production of 1.3 M ounces, a 156% increase from the 2015 PEA
- LOM cash cost of C$595/oz (US$458), all in sustaining cost (“AISC”) of C$824/oz (US$634) and fully loaded cost (AISC + initial capital expenditures) of C$933/oz (US$718)
- Pre-production period of 18 months with pre-production capital (“Initial Capital”) requirement net of pre-production revenue of C$111 M (US$85 M) – Initial Capital excluding pre-production revenue of C$175 M (US$134 M)
Click here to read the full Integra Gold Corp. (TSXV:ICG,OTCQX:ICGQF) press release.