Cascabel is 100%-owned through
Key Highlights of the Pre-Feasibility Study
Excellent economic viability of a
Potential for accelerated cash flow and project development
The current Cascabel mine plan reflects the profitable exploitation of only 18% of the Alpala measured and indicated mineral resource through a 28-year mine life - the size of the entire resource indicates the mine's potential to be a multi-generational mining asset
Strong commitment to responsible and sustainable mining practices, including the use of renewable energy (hydropower) and an environmentally conscious Project footprint reduction
Reduced Initial Capital Expenditure
Compared to previously considered development scenarios, the
After a ramp-up period of approximately two years, the initial block cave will achieve a production rate of 12 million tonnes per annum ('Mtpa'). The initial cave will extract high-grade ore, averaging approximately 1.45% CuEq for the first ten years of production. The extraction of this high-grade material will not sterilize the surrounding lower-grade ore. The mining operations will be expanded by an additional 12Mtpa, increasing to a total annual production rate of 24Mtpa in year 6. The phase 2 mill expansion is expected to be entirely funded from Project cash flow. This phased approach also allows for scaling other capital items over time, such as the tailings storage facility, the camp and mining equipment.
Lower Technical Risk
The phased development strategy also contributes to a reduction in technical risk. Incrementally advancing the Project provides an opportunity to implement and fine-tune mining and processing methodologies, ensuring a more efficient and stable production process. This approach enhances the Project's overall resilience and minimizes potential challenges associated with large-scale development. A practical height-of-draw for this deposit was determined to be 400m which is considered to be more technically feasible than other alternatives.
Accelerated Cash Flow
The Study's results indicate a strong potential for accelerated cash flow generation. With a reduced initial capital burden and lower technical risk, Cascabel is expected to deliver a quicker path to positive cash flow.
Commitment to Responsible Mining
Integration of Renewable Energy
Project Description
Cascabel is located in northern
Contact:
Tel: +44 (0) 20 3807 6996
ABOUT
The Company operates with transparency and in accordance with international best practices.
CAUTIONARY NOTICE
News releases, presentations and public commentary made by
Accordingly, the reader should not rely on any interpretations or forward-looking statements and save as required by the exchange rules of the TSX and LSE or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.
This release may contain 'forward-looking information'. Forward-looking information includes, but is not limited to, statements regarding the Company's plans for developing its properties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel and those risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The findings in the PFS and the implementation of the Cascabel project are subject to all the necessary approvals, permits, internal and regulatory requirements and further works. The estimates are indicative only and are subject to market and operating conditions. They should not be interpreted as guidance. The information contained herein is a summary only and is qualified in its entirety by reference to the Technical Report (as defined herein).
The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis.
The Company recognises that the term World Class is subjective and for the purpose of the Company's projects the Company considers the drilling results at the Alpala porphyry copper-gold deposit at its Cascabel project to represent intersections of a World Class deposit on the basis of comparisons with other drilling intersections from World Class deposits, some of which have become, or are becoming, producing mines and on the basis of available independent opinions which may be referenced to define the term 'World Class' (or 'Tier 1').
The Company considers that World Class deposits are rare, very large, long life, low cost, and are responsible for approximately half of total global metals production. World Class deposits are generally accepted as deposits of a size and quality that create multiple expansion opportunities and have or are likely to demonstrate robust economics that ensure development irrespective of position within the global commodity cycles, or whether or not the deposit has been fully drilled out, or a feasibility study completed.
Standards drawn from industry experts (1Singer and Menzie, 2010; 2Schodde, 2006; 3Schodde and Hronsky, 2006; 4Singer, 1995; 5Laznicka, 2010) have characterised World Class deposits at prevailing commodity prices. The relevant criteria for World Class deposits, adjusted to current long run commodity prices, are considered to be those holding or likely to hold more than 5 million tonnes of copper and/or more than 6 million ounces of gold with a modelled net present value of greater than
The Company cautions that the
On this basis, reference to the
(C) 2024 Electronic News Publishing, source