Steppe Gold executive vice president Aneel Waraich joined Steve Darling from Proactive to unveil significant news about the successful completion of an updated preliminary economic assessment for the Tres Cruces Oxide Gold Project situated in Peru.
The project is strategically located within a highly promising geological belt that has already yielded notable mining successes, such as the Lagunas Norte and La Arena mines.
Waraich shared with Proactive the key findings from the assessment. The Tres Cruces deposit boasts a substantial resource, combining oxide and sulphide categories, with an indicated resource of 2,474,000 ounces of gold at a grade of 1.65 g/t. Notably, within this resource, 630,000 ounces are attributed to leachable gold oxide mineralization, with a grade of 1.28 g/t.
Intriguingly, infill drilling conducted in 2022 validated the continuity of mineralization within the deposit. Metallurgical tests further confirmed the project's viability, with average gold recoveries of 82%, validating the design assumptions. Even when considering a gold price of $1700 per ounce, the after-tax net present value of the project stands at an impressive $158 million, accompanied by a robust internal rate of return of 30.9%.
Despite challenges posed by inflation-related cost increases, the project's economic strength remains substantial, suggesting significant potential for growth.
Steppe Gold's dedicated team continues to systematically advance the oxide project, with a notable exploration potential still open at deeper levels.
These positive results underscore the soundness of Steppe Gold's approach to resource development, as well as its capacity to navigate market dynamics and deliver strong financial outcomes.
View source version on newsdirect.com: https://newsdirect.com/news/steppe-gold-files-updated-preliminary-economic-assessment-on-tres-cruces-oxide-gold-project-117103943
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