NGEx Resources Releases PEA, Updated Resource for Los Helados

NGEx Resources Inc. (TSX:NGQ) announced the results of a preliminary economic assessment (PEA) completed on the Chile-based Los Helados project, of which it owns 60 percent. It also put out an updated resource estimate for the project.

As quoted in the press release:

Previously published work on the Los Helados project defined a robust resource with excellent metallurgy. The PEA builds on that strong base with a suggested mining and processing solution that indicates that Los Helados has the potential to become a large, low cost mine producing a highly desirable, clean, gold-silver rich copper concentrate for +26 years.

Los Helados Project Highlights:

• Large, robust resource, with the bulk of the mine plan derived from Indicated Resources
• A resource with a high-grade core, ideally suited to a high-tonnage block cave operation – a standard mining practice in Chile
• A mine plan that provides early production from the higher grade core, while providing options for increased mine life though cutoff grade optimisation in later years
• Application of proven SAG Mill / Ball Mill and Flotation process design
• Excellent metallurgy yielding high-grade copper concentrate, with high copper and gold recoveries
• Scalable production – the deposit, mining method, and process design supports production up to 130,000 tonnes/day
• Average annual production of 115,000 tonnes of copper, 133,000 ounces of gold, and 675,000 ounces of silver at the higher production rate
• Forecast lowest quartile C-1 costs per pound of copper net of by-products
• Long mine life +26 years depending on production rate
• Strong leverage to copper price
• Clear opportunities to improve project economics by realizing potential synergies with nearby deposits.

Click here to read the full NGEx Resources Inc. (TSX:NGQ) press release.