Newcore cuts best gold grades yet at Enchi project in Ghana
One hole cut 1 metres at 204 g/t from 59 metres depth, along with 2 metres of 1.46 g/t.
Rokmaster Resources (TSXV: RKR) announced on Friday the results of a preliminary economic assessment (PEA) for its for the Revel Ridge polymetallic gold-silver project located in the Revelstoke area of southeastern British Columbia. The study was prepared by Ausenco and supported by several other consulting firms.
The PEA outlined a long-life gold-silver mine operation with strong economics, including an after-tax net present value (at a 5% discount) of C$454 million and an internal rate of return of 21.1%. Pre-production capital expenditures are estimated at C$588 million, giving the project an after-tax payback period of 3.2 years.
The economics presented in the PEA study were calculated from metals prices of $1,850/oz. gold, $23.00/oz. silver, $1.26/lb. zinc and $0.90/lb. lead. Rokmaster pointed out that today’s market prices are higher for metals, notably gold (currently at over $2,000/oz.).
The PEA considers an underground mine with on-site treatment of the mined material by particle sorting followed by conventional milling, and flotation to produce separate lead and zinc concentrates for sale to third-party smelters, in combination with on-site treatment of refractory gold concentrates to produce gold-silver doré.
A processing capacity of 2,920 tonnes per day will result in a production lifespan of 11.4 years. During that period, the Revel Ridge mine is expected to deliver average annual payable production of 158,000 oz. of gold equivalent (114,000 oz. gold, 940,000 oz. silver, 32.6 million lb. zinc and 19.6 million lb. lead).
The PEA is derived from an NI 43-101 mineral resource estimate from June 2023, which showed approximately 7.1 milliion tonnes of measured and indicated material grading 6.63 grams per tonne gold equivalent (for 1.53 million oz. AuEq), and 7.5 million tonnes of inferred material at 6.11 g/t (for 1.49 million oz. AuEq).
In addition to the PEA, Rokmaster said in Friday’s news release that there is potential to expand current mineral resources through ongoing exploration diamond drilling, both down dips, along on-strike and on other occurrences at Revel Ridge.
