Caldas Gold Corp. announced that it has filed a preliminary feasibility study (“PFS”) technical report on its Marmato Project (the “Technical Report”) pursuant to National Instrument 43‐101 – Standards of Disclosure for Mineral Projects (“NI 43‐101″). The Technical Report supports the disclosure made by the Company in its July 6, 2020 news release and is based on the updated Mineral Resource and Mineral Reserve estimates for the Marmato Project with an effective date of March 17, 2020.
A summary of the key life-of-mine operating and financial results in the Technical Report compared with the preliminary results announced by the Company on July 6, 2020 is as follows:
| Technical Report dated August 17, 2020 |
Preliminary Results July 6, 2020 News Release |
|
| Gold production (recovered ounces) | 1,865,094 | 1,865,094 |
| Silver production (recovered ounces) | 1,566,391 | 1,566,391 |
| Long-term gold price (US$/oz) | $1,400 | $1,400 |
| Total cash cost (US$/oz) | 778 | 772 |
| All-in sustaining cost (US$/oz) | 880 | 872 |
| Free Cash Flow (before initial capital) (US$M) | 760.3 | 770.0 |
| Initial capital costs, Marmato Deep Zone (US$M) | 269.4 | 269.4 |
| Total undiscounted after-tax project cash (US$M) | 490.9 | 500.6 |
| NPV (5%) of the total after-tax project cash flow (US$M) | 256.1 | 263.9 |
| After-tax internal rate of return | 19.5% | 20.1% |
| Payback | 2026 | 2026 |
The Technical Report, with a report date of August 17, 2020 and an effective date of March 17, 2020, was prepared by SRK Consulting (U.S.), Inc. and is entitled “NI 43-101 Technical Report Pre-Feasibility Study Marmato Project Colombia”. The “qualified persons” for the purposes of NI 43-101 include Ben Parsons, MSc, MAusIMM (CP), Practice Leader/Principal Consultant (Resource Geology); Eric J. Olin, MSc Metallurgy, MBA, SME-RM, MAusIMM, Principal Consultant (Metallurgy); Fernando Rodrigues, BS Mining, MBA, MAusIMM, MMSAQP, Practice Leader/Principal Consultant (Mining); Jeff Osborn, BEng Mining, MMSAQP, Principal Consultant (Mining); Joanna Poeck, BEng Mining, SME-RM, MMSAQP, Principal Consultant (Mining); Fredy Henriquez, MS Eng, SME, ISRM, Principal Consultant (Rock Mechanics); Breese Burnley, P.E., Practice Leader/Principal Engineer (Tailings); Cristian A Pereira Farias, SME-RM, Principal Consultant (Hydrogeology); David Hoekstra, BS, PE, NCEES, SME-RM, Principal Consultant (Hydrology); David Bird, PG, SME-RM, Associate Consultant (Geochemistry); Mark Allan Willow, MSc, CEM, SME-RM, Practice Leader/Principal Consultant (Environmental); and Tommaso Roberto Raponi, P.Eng, Principal Metallurgist (Ausenco).
The report is available on the Company’s website at www.caldasgold.ca and under the Company’s profile on SEDAR at www.sedar.com.
About Caldas Gold Corp.
Caldas Gold is a Canadian junior mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia. Caldas Gold also owns 100% of the Juby Project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp.
Additional information on Caldas Gold can be found on its website at www.caldasgold.ca and by reviewing its profile on SEDAR at www.sedar.com.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@caldasgold.ca
Contact Information:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@caldasgold.ca
Tags:
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Contact Information:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@caldasgold.ca
