Midas Gold Posts Positive Feasibility Study for Stibnite Project

Midas Gold Corp. (TSX:MAX,OTCQX:MDRPF) released a positive preliminary feasibility study for its Stibnite gold project, paving the way for the development of a large-scale, long-life mining operation. The study estimates the total after-tax net present value to be $832 million.

According to the press release, some of the highlights include:

The PFS defines an economically feasible, technically and environmentally sound Project that minimizes impacts and maximizes benefits. Given the extensive history of mining that has resulted in considerable disturbance and environmental impact at the Project site, key considerations that provided a foundation for the evaluation of alternatives considered for components of the Project are:

• The Project design began with the end in mind, contemplating the development, operation and closure of the Project on a sustainable basis, meeting society’s present day needs for economic prosperity while remaining protective of the environment, as well as enhancing the ability of future generations to sustain their own needs.
• The Project is designed to ensure ongoing positive social and economic benefits through taxation, employment, and business opportunities in a region where the economy has suffered for more than a decade, and has led to some of the highest unemployment and lowest wages in Idaho.
• From the beginning, the Project has been designed for what will remain after closure. The plan for closure is protective of the environment and incorporates inherently stable, secure features that will provide the foundation for a naturally sustainable ecosystem.

Click here to read the Midas Gold Corp. (TSX:MAX,OTCQX:MDRPF) press release