Adventus Zinc has released an updated mineral resource estimate and results of a preliminary economic assessment for the El Domo volcanogenic massive sulphide deposit in the Curipamba project.
Adventus Zinc (TSXV:ADZN,OTCQX:ADVZF) has released an updated mineral resource estimate and results of a preliminary economic assessment (PEA) for the El Domo volcanogenic massive sulphide deposit in the Curipamba project.
Highlights from the PEA include an after-tax net present value of US$288 million, a total capital cost of US$289 million and an after-tax internal rate of return of 40 percent.
Christian Kargl-Simard, Adventus President and CEO, commented:
“The positive results of the independent PEA support the significance of the El Domo deposit within the Curipamba project. El Domo’s attractive economics compare well with other copper development projects globally across valuation metrics, including cash cost, IRR and capital cost. In particular, the potential free cash flows from El Domo over the first 6 years of mine life offer compelling returns when compared with larger and more capital-intensive projects. Adventus plans to continue engineering and project development activities to further advance El Domo towards a future construction decision.
In parallel, our exploration team has commenced an airborne geophysical survey over the 21,500-hectare Curipamba project for the first time and expect to actively evaluate and drill new targets in 2019. We would like to thank our partner Salazar Resources Limited, as well as the team of independent consultants who have been instrumental in our progress on El Domo and the Curipamba project to date.”