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- Mariana Resources PEA shows post-tax NPV of US$1.37 billion.
Mariana Resources (MARL:AIM) (MARL:TSX-V)
Mariana announces a positive preliminary economic assessment (PEA) for the Hot Maden underground mining project, 30% owned with Tukish partner Lidya who owns 70%.
Development for Hot Maden assumes an underground mining operation from a decline, utilising mechanised transverse and longitudinal long hole stoping with engineered fill mining methods.
Chief Executive Officer, Glen Parsons commented: “The high grade nature of this resource and relatively low capital (CAPEX) and operating (OPEX) costs should result in the delivery of considerable cashflow and a short payback period (around 2.1 years, including underground mine development) on initial investment.”
A 2017 drill plan for 20,000 meters is budgeted with exploration drilling to continue to focus on the discovery of new gold-copper resources at Hot Maden, especially to the south of the Main Zone within the old Russian Mining Area.
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