Spanish Mountain Gold Announces Uplift in Scale and Value at Its B.C. Gold Project and Receives Confirmation From Provincial Regulators to Resume the Previously Paused Environmental Assessment and Permitting Process Advancing Towards Development
VANCOUVER, British Columbia -- Spanish Mountain Gold Ltd. (“Spanish Mountain” or the “Company”) (TSX-V: SPA; FSE: S3Y; OTCQB: SPAUF) is pleased to announce the results of a Preliminary Economic Assessment and Mineral Resource Estimate Update (the " PEA ", or “PEA Update”, “MRE” on the Spanish Mountain Gold Project (the “Project”) located within the Cariboo Gold Corridor, British Columbia, Canada.
The PEA Update is a conceptual study showing improved potential economic viability of the Main Deposit.
The PEA will be published in an independent National Instrument ("NI") 43-101 Technical Report within 45 days of this news release and filed on SEDAR+.
Once filed on SEDAR+, the PEA will supersede the Company’s existing technical report on the Project.
The PEA Update study was commissioned by the Company and prepared by consultants led by BBA Engineering Ltd. (" BBA ").
The PEA envisions a conventional open pit mining and milling operation with a projected 25.8-year life of mine ("LOM") producing 3.33 million ounces ("Moz") of payable gold, with a front-weighted production profile and attractive economics.
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