Carlisle Goldfields Releases PEA

Toronto-based Carlisle Goldfields (TSX:CGJ) on Monday published the results of a preliminary economic assessment on its Lynn Lake gold camp in Manitoba. According to the PEA, at $1,300 gold, the project has a pre-tax net present value of $625 million, with a 34.4 percent internal rate of return.

Highlights from the PEA include:

•  Initial capital costs of 274 million, which includes 41.5 million in contingency costs
• Central milling facilities with a 10,000 tonnes per day (“tpd”) milling capacity
• Mine life of 13 years (four open-pit deposits including the advanced MacLellan Mine and Farley Lake Mine Projects and the earlier-stage Burnt Timber and Linkwood Projects)
• Life-of-Mine (“LOM”) gold (“Au”) production of 2.28 million ounces (“oz”) and 1.43 million oz of silver
• Average grade of 1.94 g/t Au, LOM
• Annual average production of 175,000 oz Au with a peak of 277,000 oz in the 2year
• Pre-tax total average (C1) LOM cost of 659/oz Au

Read the full press release by Carlisle Goldfields (TSX:CGJ) here