09:57 AM EST - KORE Mining Ltd. : Announced a positive Preliminary Economic Assessment ("PEA") for the Company's 100% owned Long Valley Gold Deposit, located in California, USA. LONG VALLEY PROJECT PEA HIGHLIGHTS: Robust economics: US$ 263 million NPV5% post-tax with 40% IRR at US$ 1,600 per ounce gold; 100,000 ounces gold per year over 7 years at AISC of US$ 732 per ounce; Technically simple: shallow open pit, heap leach with nearby infrastructure; Significant leverage to gold: US$ 396 million NPV5% at recent spot US$ 1,900 per ounce gold; Unmodelled silver potential from metallurgical test-work; Shallow oxide and sulphide feeder exploration potential to further enhance project. KORE's CEO Scott Trebilcock stated: "The Long Valley PEA generated an NPV5% of US$ 396 million at US$ 1,900 per ounce gold. In addition, KORE has a preliminary economic assessment on its Imperial Project, published on May 19, 2020, which generated an NPV5% of US$ 660 million at US$ 1,900 per ounce gold. KORE has the unique advantage of having two simple, low-cost heap leach development projects in one Company and can manage capital needs for growth, permitting and construction to maximize shareholder value." KORE Mining Ltd.
shares V.KORE are trading up 7 cents at $1.57.
