Gold Standard Ventures announces PFS for Railroad-Pinion project
The project is located in the Carlin Trend, Nevada.
The after-tax internal rate of return is 27.8%. The average annual gold placement is 156,000 ounces gold per year over an initial 8-year mine life. The average life of mine cash cost is $582 per ounce after by-product credit and all in sustaining costs of $657 per ounce.
Jonathan Awde, CEO and Director of Gold Standard, said the company plans to start permitting.
"We are very pleased with this first iteration of this PFS which is needed now so that we can start the permitting process," said Awde.
"We have many opportunities to improve on the base case which includes the goal to add mine life by potentially upgrading more of the existing resources within the PFS area and exploiting the other nearby deposits we have discovered.
"We also have some great opportunities to improve economics via trade-off studies which could reduce capital costs or improve recoveries. We will be looking to quantify these opportunities through further economic studies in the first half of 2020. Meanwhile, drilling is proceeding on some of our project's best exploration targets."