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Gold Reach Resources Completes PEA for Ootsa Copper-Gold-Molybdenum Project, B.C.

Published: February 11, 2016 |

[Click image to enlarge]

Gold Reach Resources has completed an independent preliminary economic assessment (PEA) on the company’s 100% owned copper-gold-molybdenum Ootsa Project in west-central British Columbia.

The conceptual study demonstrates the potential to develop the Ootsa Project by means of contract mining and toll milling at low initial capital cost to deliver a base case after-tax NPV and IRR of C$186 million and 81 percent respectively. P&E Mining Consultants Inc. was the lead engineering firm for the PEA, which also included input from Knight-Piesold Consulting, ERM Consultants Canada Ltd., and Gold Reach personnel.

“The company is very encouraged with the outcome of the PEA. The results of the PEA support the concept that the Ootsa Project can be developed as a potential profitable, low-cost investment with an anticipated future upturn in metal prices,” said Dwayne Melrose, president and CEO of Gold Reach Resources.

“The key to developing a viable operating plan for the Ootsa Project was to fully recognize the nature of the value present in terms of the property; to use that value as the foundation for a plan that balanced investor risk and reward; and to take advantage of the unique circumstances offered by the proximity of an adjacent operating mine. Gold Reach now looks forward to the challenge of refining the development concept for the Ootsa Project into an executable plan that builds on the results of the PEA,” continued Melrose.

In the PEA, P&E recommends that Gold Reach advance the Ootsa Project with extended and advanced technical studies with the intention of moving the project toward a production decision.

To read more details in the company’s press release, CLICK HERE


About Gold Reach Resources
Gold Reach Resources is a well funded Canadian-based mineral exploration and development company focused on advancing its large Ootsa Cu-Au porphyry deposit in British Columbia, Canada.

To stop by Gold Reach Resources’ website, CLICK HERE


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