Published: October 14, 2022 |

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Canagold Resources has retained Ausenco Engineering Canada Inc. to complete a feasibility study on the company’s New Polaris project located in Northwestern B.C.

“I’m delighted to announce Canagold’s selection of Ausenco to undertake the feasibility study at New Polaris. We’re very pleased with our progress on this project to date and I’m confident this will be another important next step forward for us as we move forward along the path of our development of the company’s flagship asset,” said Catalin Kilofliski, CEO of Canagold.

Key Objectives for the Feasibility Study
• Resource model update (to include over 30,000 meters of additional drilling completed)
• Mining reserves calculation and detailed underground mine plan development
• Engineer and design all surface infrastructure and processing facilities to include among others: flotation,
  bio-oxidation, leaching and gold dore bar production
• Engineer and design surface dry stack tailings disposal facility (with no long-term adverse impact on the
  environment)
• Evaluate all renewable power alternatives that may be feasible for New Polaris
• Complete detailed capital and operating cost estimates, including a detailed financial model for the life of the
  project

The feasibility study is expected to conclude in approximately 18 months.

Ausenco is a global company based across 26 offices in 14 countries, with projects in over 80 locations worldwide. The company’s deep technical expertise, along with its 30-year track record of innovative, value-added consulting engagements, bring the requisite experience to deliver a robust and credible feasibility study product for New Polaris that will support the project’s financing and development plan requirements.

Some of their key qualifications include:
• Management expertise to integrate all the aspects of the New Polaris permitting process, currently being
  managed by Ausenco’s integrated sustainability team
• Direct, recent experience in the design, build and successful operation of similar BIOX gold processing plants
• World-class teamwork and leadership with the optimal combination of technical expertise and local knowledge
  in B.C.
• Proven ESG performance and practices globally
• Ability to deliver a fast-track execution schedule with a significant and successful record of project delivery

About Canagold Resources
Canagold Resources Ltd. is a growth-oriented gold exploration company focused on advancing the New Polaris Project through feasibility and permitting. Canagold is also seeking to grow its assets base through future acquisitions of additional advanced projects. The company has access to a team of technical experts to help unlock significant value for all Canagold shareholders.

To stop by Canagold’s website, CLICK HERE

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