May 24, 2012 (Investorideas.com Mining stocks newswire) - eResearch Corp reports Cadillac Ventures Inc. (TSX-V: CDC) has received a positive Preliminary Economic Assessment (PEA) report for the Thierry project near Pickle Lake in northwestern Ontario. The PEA covers both the underground massive sulphide Thierry deposit and the open-pit disseminated sulphide K1-1 deposit.
The report shows the technical and potential economic viability of re-opening the Thierry mine and processing material, on a combined basis, from both the underground Thierry mine deposit and the K1-1 open-pit deposit, and validates Cadillac Ventures' focus on the development of the project.
Highlights of the PEA
Potentially Mineable Resources
Mining: 15,000 tpd for a total of 5.25 million tpy, including 3.85 million tpy from the open-pit operation and 1.4 million tpy from the underground operation.
Mined Material: Forecast net smelter return (NSR) value averaging C$52.12/tonne (after smelter and shipping costs), assuming 24-month April 30, 2012 trailing average metal prices of US$3.77/lb Cu; US$10.11/lb Ni; and US$29.60/oz Ag; CAD/US$ exchange rate of $0.99 against a total (operating and capital) cost of $39.65/tonne ore. Concentrate recovery rates used: Cu 94%; Ni: 65%; Ag: 53%.
Mine Life: 16.2 years, which includes three years of pre-production (shaft) development, with some underground mineralization being mined in years two and three.
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