Gold Reach Resources Puts Out PEA for Ootsa Project

Gold Reach Resources Ltd. (TSXV:GRV) announced the results of a preliminary economic assessment (PEA) for its copper-gold-moly Ootsa project, located in British Columbia.
As quoted in the press release:

The conceptual study demonstrates the potential to develop the Ootsa Project by means of contract mining and toll milling at low initial capital cost to deliver a base case after-tax NPV and IRR of C$186 million and 81% respectively. P&E Mining Consultants Inc. (“P&E)” was the lead engineering firm for the PEA, which also included input from Knight-Piesold Consulting, ERM Consultants Canada Ltd., and Gold Reach personnel.

Base-case operating highlights and project performance are as follows:

• Metal Price:                       US$3.00/lb Cu, US$1260/oz Au, US$10.30/lb Mo, US$17/oz Ag
• Mill Feed*:                          65 Mt @ 0.37% Cu Eq (0.25% Cu, 0.13 g/t Au, 0.016% Mo, 2.3 g/t Ag)
• Resource Quality:             94% Measured, 6% Indicated Classification
• Production:                       324 M lbs Cu, 185 K oz Au, 15.8 M lbs Mo, 3 M oz Ag
• Mine Life                            12 years
• Initial CAPEX:                   C$64 million (including contingency)
• NPV @ 5% (after-tax)**:   C$186 million
• IRR (after-tax):                  81%
• Payback:                           1 year
• Resilience:                         31% IRR at US$2.25/lb Cu

Click here to read the full Gold Reach Resources Ltd. (TSXV:GRV) press release.