Josemaria Resources announced the results of an Independent Feasibility Study for its Josemaria Project (see “See NI 43-101 Technical Report, Feasibility Study for the Josemaria Copper-Gold Project, San Juan Province, Argentina”), dated effective September 28, 2020 and filed on November 5, 2020.
The Feasibility Study details a conventional, rapid pay-back, low-risk project forecast to deliver an attractive economic outcome at a range of commodity prices. Mine design is based on optimized mine plan for early cashflow while preserving long term orebody value. Ready access to water, grid power as well as transportation and logistics infrastructure are wholly within San Juan province.
The Company continues to progress engineering studies, permitting and the negotiation of commercial terms with host governments, in advance of a construction decision. Commercial production at Josemaria could be achieved by 2026, dependent on permitting and negotiation of terms.
Feasibility Study Highlights
|Anticipated Production Profile
|Average Process Capacity
||152,000 tonnes/ day
|Life-of-Mine Mill Feed
||1,012 million tonnes
|Life-of-Mine Diluted Grades
||0.30% Cu; 0.22g/t Au; 0.94g/t Ag
|Life-of-Mine Strip Ratio
|Average Annual Payable
|First 3 years
||Life of Mine
|Life-of-Mine Average Process Recovery
||85.2% Cu, 62.6% Au, 72.0% Ag
The Feasibility Study was prepared by a team of engineering and consulting service providers led by Fluor Canada Ltd (“Fluor”) with key sections prepared by SRK Consulting (Canada) Inc. (“SRK”), and Knight Piésold Ltd. (“KP”) and input from a variety of independent consultants and qualified persons, and in accordance with the disclosure standards of National Instrument 43-101 (“NI 43-101”)
(1), (2) –See detail on Non-GAAP measures and copper equivalency respectively on the Cautionary Notes Regarding Forward Looking Statements on October 19, 2020 news release.