Sabre Gold Mines Corp announces it has completed a Preliminary Economic Assessment (PEA) on the 100% owned Copperstone Mine in Arizona, USA. The Preliminary Economic Assessment supports a high-grade gold underground mining operation at Copperstone producing an average of 40,765 payable oz gold per year for just over a 5-and-a-half-year mine life.
Sabre Gold management worked with Hard Rock Consulting, LLC (HRC) to complete the PEA, which included comprehensive reviews of the construction, operations and costs, to provide confidence for potential project commencement and completion within budget and schedule.
Trade off studies will continue on initial capital items and initial earthworks will commence as soon as the Company moves towards a formal construction decision. The Company will also continue to have discussions with potential providers of initial construction capital.
The PEA base case assumes a gold price of $1,800 per oz and the PEA also presents project sensitivities using a range of spot gold prices between $1,600 to $2,000 per oz. All currency references herein are in US$.
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