The results of the PEA were previously announced in the Company's news release dated
The mineral claims comprising the Montauban property (the 'Property') are located in southern
PEA Highlights: Pre-tax net present value (NPV) (discount rate 5%) of
The positive results of the PEA will allow us to seek financing for the completion of the mill, the construction of the new tailings pond and submission of the Bond for the reclamation plan.
The Property also hosts an historical underground hard-rock resource prepared by Mr.
In short, we are not there for only four years. We will develop the camp in a manner that will respect of all stakeholders around our milling facility, but our priority is to reclaim the legacy tailings and restore the heydays of mining at Montauban.
PEA Overview, Description and Location
The Property as of today comprises a contiguous block of 76 claims covering 2,360.2 ha or 23.6 km2, and is underlain by rocks of the
From 1911 to 1955, a total of 2,655,588 short tons of massive-sulphide ore grading 4.53% Zn, 1.54% Pb, 0.69 g/t Au, and 85.7 g/t Ag was mined from the
Now the project calls for the excavation and pumping of tailings material to the mill for recovery of coarse micas into a sellable concentrate, followed by regrinding prior to cyanidation with recovery by
As per discussions with the municipality, a formal agreement was signed and a royalty of 1% will be paid to the municipality.
The PEA considers a conventional truck and shovel sand pit operation with the exception of having a pumping box where the tailings will be mixed with water and pumped to the mill, reducing the consumption of fuel and required equipment for the Project. In short, the mineralized material is excavated and will be discharged on grizzly, then put in slurry and pumped to the mill. The mill will be in operation full time over nine months of the year (April-December).
The PEA is based on the mineral resource estimate presented in a Technical Report titled 'NI 43-101 Technical Report: Mineral Resource Estimate and Preliminary Economic Assessment of the
Mr.
Mining & Processing
The operation is to bring the material from the tailings pile to the pump box near to the processing plant. The project is to feed 270,000 t of tailings to the plant for the first 3 years and 113,000t for the fourth year of operation for a total of 923,000 metric tonnes. The contractor at mining operation will operate on a 9-month operation basis to avoid freezing temperatures.
There will be no need for drilling and blasting as the material is already of screen size. The material will be picked up by a shovel (Cat 336 size type) or a loader (Cat 966 size type). The hauling work can be done by a single articulated truck (Cat 730 size type) with a capacity of 14 cubic meters and a second truck will be available on site as backup. The truck will unload near to the pump box (plumper) and a loader will feed the plumper. At short distance the excavator will discharge directly on the grizzly at the pump box. The work will be contracted out on a 24 hour/7-day basis.
At the beginning of the initial production as the pile is close to the plant, a wheel loader could be used on the pile to load the truck and the same loader could load the plumper by driving down to the plant. After a while, the wheel loader will not be able to do both and a shovel should be brought to the pile to do the work. Limited power is needed on the pile for the pump box and a lighting system will be installed on the pile near the tailing is mixed into slurry in the pump box.
Supporting on-site infrastructure will include a small administrative building, warehouse, fuel tank, spare generators and several 40-foot steel containers for material storage. Employees will be lodged nearby, no need for a logging camp.
The most efficient tests include the following steps: sieving the feed to 100 Mesh, the coarse fraction goes to the Humphrey spiral which separates the sample into light, intermediate and heavy fractions. The intermediate fraction is passed three times through Humphrey's spiral and the light fraction is passed one last time trough Humphrey's spiral. This method produces a mica concentrate with a mass pull varying from 4 to 9 %. The remaining material is ground and fed into the cyanidation tank for 48 hours with 3 grams of sodium cyanide, zinc power is used for the cement which is thereafter melted to produce the bars. The average recovery for gold is 92% and 77% for silver. A detailed flowsheet will be supplied in the technical report.
Environment, Permitting and Social
It is of public knowledge that the Montauban region has a high environmental legacy of contamination by historical tailings and it is the objective of
The company is fully permitted with its Certificate of Authorization and approved reclamation plan for Anacon Lead 1 i.e. for its mill and most of its tailings tonnage. It is important to mention that the Municipality has approached the company and requested the removal of the tailings adjacent to the track and its inclusion into the plan. The company is in close collaboration with the Municipality and the
About the Company
Contact:
Tel: +1 514-712-1532
Email: info@esgold.ca
This press release contains 'forward-looking information' that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration and development plans. The words 'will', 'anticipated', 'plans' or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
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