Antares Announces Positive Preliminary Economic Assessment for Haquira Cu-Mo-Au Project, Peru

Antares Minerals Inc. (TSX VENTURE:ANM) announced that it has received a positive Preliminary Economic Assessment( PEA) for its wholly owned Haquira Copper Project in southern Peru.

The press release is quoted as saying:

At an estimated average annual production rate of 425 million lbs of copper, 5 million lbs of molybdenum and 27,000 ounces of gold for a twenty-year mine life, the PEA estimates an after-tax Net Present Value (NPV) of US$1.07 billion from commencement of construction and an after-tax Internal Rate of Return (IRR) of 16.4% using a long term copper price of US$2.25/lb and a discount rate of 8%.

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