AuRico Metals Completes Feasibility Study for Kemess Underground Gold-Copper Project, B.C.
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AuRico Metals Inc. has completed a feasibility study (FS) update for the Kemess Underground (KUG) project located on the company’s 100 percent-owned Kemess property in British Columbia, Canada. The FS contemplates the development of a low-cost panel caving operation to extract the KUG reserves over a 12 year mine life. The results indicate that the KUG project is a robust, low-risk project benefiting from extensive infrastructure in place.
“We are very pleased with the positive results from our Kemess Underground feasibility study update which confirm the potential for a large, low-cost gold-copper mine with robust economics. Today’s release highlights the exciting opportunity to create significant value at Kemess to the benefit of all of our stakeholders, including AuRico shareholders, our First Nations partners, and the Province of British Columbia. Our wholly-owned and fully unencumbered Kemess property stands out as a unique Canadian asset benefiting from approximately C$1 billion in replacement cost infrastructure already in place and located in one of the most attractive mining jurisdictions anywhere,” said Chris Richter, president and CEO of AuRico Metals.
“We believe that opportunities remain to optimize project returns including around equipment leasing (pre-commercial production capital expenditures on underground mobile equipment totals C$86M) and project financing and further upside exists around the large resource at Kemess Underground and the growing resources at Kemess East,” added Richter.
To read more details in the company’s press release, CLICK HERE
About AuRico Metals
AuRico Metals is a mining royalty and development company whose producing gold royalty assets include a 1.5 percent NSR royalty on the Young-Davidson Gold Mine, a 0.25 percent NSR royalty on the Williams Mine at Hemlo, and a 0.5 percent NSR royalty on the Eagle River Mine — all located in Ontario, Canada. AuRico Metals also has a 2 percent NSR royalty on the Fosterville Mine and a 1 percent NSR royalty on the Stawell Mine, located in Victoria, Australia. Aside from its diversified royalty portfolio, AuRico owns (100 percent) the advanced-stage Kemess Gold-Copper Project in British Columbia, Canada. AuRico Metals’ head office is located in Toronto, Ontario, Canada.
To stop by AuRico Metals’ website, CLICK HERE
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