Source: Streetwise Reports
July 12, 2018 (Investorideas.com Newswire) The preliminary economic assessment for this company's flagship project indicates "highly attractive economics."
In an announcement published July 10, Liberty Gold Corp. (LGD:TSX) set forth details of its preliminary economic assessment (PEA) for the Goldstrike oxide gold property in Utah's Great Basin region. In its press release, the company stated, "The PEA confirms a low capital intensity, low operating cost, open-pit, run-of-mine, heap-leach operation, with a 7.5 year mine life and highly attractive economics."
Highlights of the PEA included:
All figures are based on an assumed gold price of $1,300 per ounce.
Commenting on the PEA for the Goldstrike property, company president and CEO Cal Everett stated, "This positive PEA marks a solid milestone for the Goldstrike project and for Liberty Gold." He noted the geometry of the project is "backed up by over 1,700 drill holes with 75% of the resource in the indicated category," and expressed confidence in "the metallurgical assumptions, as they are consistent with historical recoveries obtained from 209,000 ounces of historical production between 1988 and 1994."
In addition, Everett noted that "potential benefits from by-product silver production or from processing residual gold remaining in the historical heap leach pads" are not accounted for the in PEA.
In addition to demonstrating the potential economic viability of the Goldstrike property in terms of gold recovery, Liberty Gold asserted that based on historic mining operations at the site, "the Company believes there is potential for significant silver revenues from a future operation. . .Liberty Gold intends to pursue a silver resource study to quantify a silver resource, as well as a review of metallurgical test data to estimate silver recoveries that could be expected at the Goldstrike Project."
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