Bluestone Resources has reported the results of an independent, NI 43-101-compliant feasibility study of its 100% owned Cerro Blanco underground gold project in southeast Guatemala. The study is based on proven and probable mineral reserves of 940,000 ounces (oz) of gold and 3.6 million oz of silver in 3.4 million metric tons (mt) at grades of 8.5 grams (g) per mt gold and 32.2 g/mt silver.
Total gold production is estimated at approximately 902,000 oz over an eight-year mine life, including an average of 146,000 oz/y gold during the first three years of production. Initial capital to develop the project is estimated at $196 million, with an after-tax payback period of 2.1 years. Average life-of-mine all-in sustaining costs are estimated at $579/oz, net of credits.
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