GMV Minerals announce positive results from the updated Preliminary Economic Assessment (PEA) study of the Mexican Hat Gold Project, located in Cochise County, southeastern Arizona.
A National Instrument 43-101 – Standards of Disclosure for Mineral Projects compliant technical report entitled Updated NI 43-101 Technical Report Preliminary Economic Assessment, Mexican Hat Project, with an effective date of August 8, 2025 will be filed on SEDAR.
The Mexican Hat hosts a shallow oxide gold resource with excellent metallurgy and high recoveries, supported by a low strip ratio and minimal pre-stripping. Infrastructure is in place and the Mexican Hat Project demonstrates a robust NPV and IRR. With fast leach kinetics and low reagent consumption, the Company believes the Mexican Hat Project offers exceptional potential economics.
According to the takeaways, based on price sensitivity analysis at approximately the current price of US$3,350 per ounce of gold, the project returns a pre-tax IRR of 106.8% (after-tax 82.5%) and a pre-tax NPV at a 5% discount rate of US$767 million (after-tax US$538.1 million) with a payback period of 1.10 years (1.3 years after-tax).
Base Case mine life of 10 years with total production of 597,841 ounces, averaging approximately 60,000 ounces per year. Crushed mineralized material will be conveyor stacked at a rate of approximately 10,000 tonnes/day on a conventional heap leach pad.
Estimated cash cost of production is US$1,354 per ounce with an all-in-sustaining cost of $1,545 per ounce inclusive of sustaining capital and additional overhead support. Engineering design analysis indicates the potential to increase pit size and contained ounces with increased gold prices.
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