Callinex Announce Initial Preliminary Economic Assessment of Nash Creek and Superjack Projects

Callinex Mines (TSXV:CNX) has today announced results from an independent initial Preliminary Economic Assessment( PEA) on the company’s Nash Creek and Superjack zinc-lead-silver projects located in the Bathurst Mining District of New Brunswick, Canada.

As quoted in the press release:

The initial PEA outlines a 10-year, 3,900 tonne-per-day (tpd) open-pit mining operation with a dense media separation plant and 1,950 tpd conventional flotation process facility at the Nash Creek project.. The mine plan generates a strong economic return with a pre-tax internal rate of return of a 34.1 percent (25.2 percent post-tax) and a pre-tax Net Present Value at an 8 percent discount rate of CA$230 million (CA$128 million post-tax) based on pre-production capital costs of CA$168 million and a zinc price of US$1.25/lb. The company believes there is a clear opportunity to significantly enhance the project’s economics with additional exploration that allows for higher grade material to be scheduled earlier in the mine plan.

Click here to view the full Callinex Mines (TSXV:CNX) press release.