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Highlights
- 1,200,000 indicated oz Au @ 1.32 g/t
- Bankable feasibility study: 35% IRR (after tax)
- US$ 66 million capital required
- Exploitation permit in hand
- Environmental permits in hand
- 7,500 tpd mill purchased and being delivered to Costa Rica
- 18 month construction window
- Strong potential to expand resource:
- 1,241,000 inferred oz Au @ 1.28 g/t (Crucitas)
- 469,000 inferred oz Au @ 4.5 g/t (Conchudita area)
- Large exploration concession area (~800 km2)
Mining
- Hydraulic excavator and 35t trucks
- Strip ratio averages 0.59 over mine life
- Ore feed 7,500 tpd saprolite, 5,000 tpd hard rock
- Optimum feed in saprolite includes 25% hard rock
- Mining in Botija pit first followed by Fortuna
- Total mine workforce is 250
- Feasibility study economics run at $750/oz gold price
Processing
- SAG mill and ball mill have been purchased, being delivered to Costa Rica
- Throughput 5,000 tpd hard rock , 7,500 tpd saprolite
- Recovery in hard rock 91.5% and in saprolite 96%
- Conventional CIP plant
- Oxygen addition to leach
- Automatic cyanide control
- CyPlus cyanide destruction with combined SO2 - H2O2 addition
Socioeconomic
- The Company has strong local support
- 7 small communities in mine area
- Social and community development and training programs currently underway:
- Organic Agriculture
- Small and Medium businesses
- Dressmaking and textile courses
- Computer training
- Cheese and pork production
- Aquaculture
Environment
- Numerous reports were completed including
- Socio-Economic studies
- Social Profiles
- Public Opinion Studies
- Numerous baseline studies, forestry, mammals, reptiles etc.
- Environmental Management Plan includes policies including
- Forestry
- Wildlife habitat
- Wastewater treatment
- Erosion control
- Surface water management
- Company will also pay for periodic independent Environmental Audits
- Acid Rock Drainage addressed in amended EIS
- Next major permit required Change of Land Use, received from Ministry of Agriculture, pending ACA approval (Forestry)
- Environmental bond of $US 600,000 placed
- Hard rock mining environmental permit received
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