Mining News
Rockcliff announces positive PEA results for its polymetallic project in Manitoba
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| Image credit: Rockcliff. |
(Kitco News) - Rockcliff Metals (CSE: RCLF) announced on Friday the results of a Preliminary Economic Assessment ("PEA") for the company's 100% owned Tower and Rail project, located in Manitoba.
Highlights include $115 million pre-tax NPV, IRR 41% at base case; payback of 2.1 years.
Average steady state copper equivalent production is18.6 thousand tonnes per annum with all-in sustaining costs of US$1.91/CuEq lb sold.
The PEA envisions developing the Tower deposit in parallel with the refurbishment of the leased Bucko mill facility, followed by the development of the Rail deposit, resulting in a combined life of mine of seven years, with exploration upside at both properties.
According to the company’s statement, the PEA indicates the project has the potential to generate positive economic returns through its extremely low capital intensity and low operating costs, validating the development strategy pursued by the company.
President and CEO Alistair Ross of commented, "The results of the PEA demonstrate that good economics are possible from a responsible ESG approach to new mine design. The integration of modern mine technologies that dramatically improve the safety and health of workers underground and reduce the environmental footprint of our operations are immediately evident. The estimated low mine operating costs and low capital intensity will strengthen Rockcliff's ability to manage through low metal price environments as indicated by the estimated C1 costs."
Rockcliff is a Canadian resource development and exploration company, with +1,000 tonne per day leased processing and tailings facility as well as several advanced-stage, high-grade copper and zinc dominant VMS deposits in the Snow Lake area of central Manitoba.
