G Mining Ventures Corp announced the results of its 2022 Feasibility Study for the development of its wholly-owned and permitted Tocantinzinho Gold Project, located in Para State in Brazil. The Study replaces the 2019 Feasibility Study completed by Eldorado Gold Corporation, with updated mineral resource and mineral reserve estimates, re-sequenced mine plan, refined mill designs, and updated current capital and operating cost estimates.The FS confirms robust economics for a low cost, large scale, conventional open pit mining and milling operation, with industry leading operating costs and high rate of return. The Study outlines total gold production of 1.8 million gold ounces over 10.5 years, resulting in an average annual gold production profile of 174,700 ounces with an All-In-Sustaining Cost per ounce of $681. The Project after-tax net present value (5% discount rate) is $622 million with an after-tax internal rate of return of 24% at a gold price of $1,600 per ounce, and $833 million and 29% at a spot gold price of $1,800 per ounce.The Project is an advanced-stage development gold project located in Pará State, Brazil, 200 km south-southwest of the city of Itaituba, 108 km from the Moraes de Almeida district, and 1,150 km southwest of Belém, capital of Pará State. The climate in northwestern Brazil is tropical, with a rainy season from January to April and a dry season extending from June to December. The average annual precipitation is approximately 1,957 mm. The land tenure totals 99,574 hectares (996 km2) and is comprised of two mining concessions covering an area of 12,889 hectares (129 km2), 23 exploration licenses covering an area of 76,116 hectares (761 km2), and two applications for exploration licenses covering 10,569 hectares (106 km2).
G Mining Ventures Corp announced the results of its 2022 Feasibility Study for the development of its wholly-owned and permitted Tocantinzinho Gold Project, located in Para State in Brazil. The Study replaces the 2019 Feasibility Study completed by Eldorado Gold Corporation, with updated mineral resource and mineral reserve estimates, re-sequenced mine plan, refined mill designs, and updated current capital and operating cost estimates.The FS confirms robust economics for a low cost, large scale, conventional open pit mining and milling operation, with industry leading operating costs and high rate of return. The Study outlines total gold production of 1.8 million gold ounces over 10.5 years, resulting in an average annual gold production profile of 174,700 ounces with an All-In-Sustaining Cost per ounce of $681. The Project after-tax net present value (5% discount rate) is $622 million with an after-tax internal rate of return of 24% at a gold price of $1,600 per ounce, and $833 million and 29% at a spot gold price of $1,800 per ounce.The Project is an advanced-stage development gold project located in Pará State, Brazil, 200 km south-southwest of the city of Itaituba, 108 km from the Moraes de Almeida district, and 1,150 km southwest of Belém, capital of Pará State. The climate in northwestern Brazil is tropical, with a rainy season from January to April and a dry season extending from June to December. The average annual precipitation is approximately 1,957 mm. The land tenure totals 99,574 hectares (996 km2) and is comprised of two mining concessions covering an area of 12,889 hectares (129 km2), 23 exploration licenses covering an area of 76,116 hectares (761 km2), and two applications for exploration licenses covering 10,569 hectares (106 km2).
