Callinex Mines has filed an independent technical report for a preliminary economic assessment (PEA) on SEDAR for its 100% owned Nash Creek and Superjack Projects in the Bathurst Mining District of New Brunswick, Canada.


Image: Map of the Bathurst Mining District of New Brunswick. Photo: courtesy of Callinex Mines Inc..

The maiden 2018 PEA outlines a 10-year, 3,900 tpd open-pit mining operation with a Dense Media Separation plant and 1,950 tpd conventional flotation process facility located at the Nash Creek Project.

The PEA mine plan generates a strong economic return with a pre-tax internal rate of return of 34.1% (25.2% post-tax) and a pre-tax Net Present Value at an 8% discount rate of C$230 million (C$128 million post-tax) based on pre-production capital costs of C$168 million and a zinc price of US$1.25/lb.

The Nash Creek and Superjack Projects benefit from world-class infrastructure within close proximity. The Nash Creek Deposit is located approximately 1 km from Provincial Highway 11 and a 230 Kv high-voltage transmission line and only 25 km by road to Glencore’s Brunswick Smelter, deep water port, railway and power plant at the Port of Belledune.

The Company plans to commence a drill program at the Project within the next 10 days with the objective to identify potential for satellite deposits within the immediate vicinity of the Nash Creek Deposit.

There is a significant opportunity to further enhance the project’s economics with additional exploration over the 150km2 district-scale land package.

Source: Company Press Release