Pre - feasibility Study
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Magna Mining to Initiate a Pre-Feasibility Study on the Crean Hill Nickel-Copper-Precious Metals Project in Sudbury, Ontario
Globenewswire· 2025-12-16 11:45
Core Viewpoint - Magna Mining Inc. has engaged Technica Mining Inc. to conduct a pre-feasibility study on its 100% owned Crean Hill Project, which is expected to enhance the project's economic assessment and support the company's vision of becoming a multi-mine producer in the Sudbury Basin [1][2]. Project Overview - The Crean Hill Project is located in Sudbury, Ontario, Canada, and has shown a promising combination of base and precious metals [1][2]. - The pre-feasibility study (PFS) will build on the Preliminary Economic Assessment (PEA) completed in 2024, which indicated a potential mine life of 13 years and modest pre-production capital costs [2][6]. Financial Highlights - The 2024 PEA highlighted a low pre-production capital cost of CAD 27.7 million, with projected Advanced Exploration (AdEx) capital costs of CAD 48.5 million and revenues of CAD 16.4 million [6]. - The after-tax Net Present Value (NPV) at an 8% discount rate is CAD 194.1 million, with an Internal Rate of Return (IRR) of 129% based on conservative metal prices [6]. Mining Operations - The PEA envisions an underground mining operation with an average production rate of 2,200 tonnes per day and an average Life of Mine (LOM) operating cost of CAD 158 per tonne [6]. - The project is expected to yield 195.5 million pounds of nickel, 169.5 million pounds of copper, 313,000 ounces of platinum, 359,000 ounces of palladium, and 117,000 ounces of gold over its lifespan [6]. Resource Estimates - The Crean Hill Mineral Resource Inventory, effective April 15, 2024, includes significant contact nickel-copper zones and lesser amounts of footwall copper-nickel-precious metals [5][8]. - The indicated resource is 18,444,000 tonnes with grades of 0.87% Cu and 1.01% Ni, while the inferred resource is 989,000 tonnes with grades of 0.53% Cu and 0.70% Ni [8]. Future Plans - The PFS is set to commence in January 2026 and is expected to be completed by Q3 2026, incorporating results from a 20,000 tonne bulk sample program conducted in late 2024 [2][6]. - Engineering advancements for a connection to grid power and a permanent dewatering system are ongoing, which will benefit the project's economic evaluation [2].
Revival Gold Provides Update and Latest Results From Drilling at the Mercur Gold Project in Utah
Globenewswire· 2025-12-09 12:30
Core Viewpoint - Revival Gold Inc. is advancing its Mercur Gold Project in Utah, with ongoing drilling indicating potential resource expansion and supporting a planned pre-feasibility study in 2026 [3][5]. Drilling Program Update - The drilling program commenced on July 12, 2025, with a target of 13,000 meters, and as of December 5, 2025, 108 holes have been completed, totaling 11,300 meters [5][8]. - The company is infill drilling inferred resources and has encountered several intercepts outside the current resource area, suggesting potential upside [3][4]. Assay Results - Recent assay results include significant gold intersections, such as: - 1.3 g/t gold over 18.3 meters in RM25-127 - 0.62 g/t gold over 24.4 meters in RM25-122 - 0.64 g/t gold over 18.3 meters in RM25-116 - 0.46 g/t gold over 56.4 meters in RMC25-133 [8]. - Three intercepts extend beyond current pit designs, indicating further potential in the Rover area [8]. Future Plans - The ongoing drilling results are consistent with the Preliminary Economic Assessment (PEA) resource and metallurgical estimates, supporting the company's goal of restarting production at Mercur [3][4]. - The company is nearing completion of its drilling program and is optimistic about the results, which will inform the upcoming pre-feasibility study [3][5]. Company Overview - Revival Gold is a prominent gold mine developer in the United States, focusing on the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho [16]. - The company is listed on the TSX Venture Exchange under the ticker "RVG" and on the OTCQX Market as "RVLGF" [16].
Grounded Lithium Reports Second Quarter 2025 Financial and Operating Results, Provides Corporate Update and Grant of Incentive Stock Options
Prnewswire· 2025-08-22 11:00
Financial Results - For the three months ended June 30, 2025, the net comprehensive loss was CAD 103,370, a decrease from CAD 241,823 in the same period of 2024 [2] - For the six months ended June 30, 2025, the net comprehensive loss was CAD 72,978, significantly lower than CAD 749,430 in the same period of 2024 [2] - Cash flow used in operating activities for the three months ended June 30, 2025, was CAD 45,658, down from CAD 93,410 in 2024 [2] - Funds flow used in operations for the six months ended June 30, 2025, was CAD 11,144, compared to CAD 575,853 in 2024 [2] - The company reported a working capital surplus of CAD 94,710 as of June 30, 2025, compared to CAD 208,583 in 2024 [2] Corporate Development - The company is collaborating with Denison Mines Ltd to develop a pre-feasibility study (PFS) for the Kindersley Lithium Project (KLP), expected to be completed by late 2025 or early 2026 [3] - A detailed depletion study of the Duperow/Leduc reservoir has led to a plan for drilling wells with two parallel horizontal legs to maximize brine drainage at minimal costs [4] - Extensive brine samples from the KLP 4-15 well were sent to various direct lithium extraction firms, with results aiding Stantec Inc in analyzing optimal extraction technologies [5] Incentive Compensation - To reduce corporate expenditures, key personnel opted for equity incentives, resulting in the grant of 2,110,900 stock options at an exercise price of CAD 0.065 per share [7] Resource and Economic Assessment - Grounded Lithium Corp controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent resources and about 3.2 million metric tonnes of Inferred resources in Southwest Saskatchewan [8] - The updated Preliminary Economic Assessment (PEA) indicates a Phase 1 NPV8 after-tax of USD 1.0 billion with an after-tax IRR of 48.5% [8]
Sandfire Resources America Inc. Announces Drilling Results, Project Advancements at Black Butte, Board Changes and Loan Variation Renewal
Globenewswire· 2025-07-17 21:00
Core Insights - Sandfire Resources America Inc. has completed its 2024-2025 drilling program, focusing on the Johnny Lee Lower Copper Zone, which has shown promising results in resource definition and mineralization extension [1][2]. Drilling Program Results - The Johnny Lee Lower Copper Zone currently has a measured and indicated resource of 1.2 million tonnes grading 6.8% Cu and an inferred resource of 0.5 million tonnes grading 5.9% Cu [1]. - Approximately 28,000 meters have been drilled since December 2023, with results expected to contribute to an updated mineral resource estimate by late 2025 [1][2]. - Significant drill results include: - 8.11 meters of 4.66% Cu in hole SC24-311 - 14.99 meters of 7.99% Cu in hole SC24-312 - 10.58 meters of 4.69% Cu in hole SC25-316 - 11.73 meters of 8.80% Cu in hole SC25-325 - 4.91 meters of 9.74% Cu in hole SC25-328 [5]. Project Advancements - A technical report update for the Johnny Lee deposit is underway at the Pre-Feasibility Study level, with several key factors needing re-evaluation since the last report in October 2020 [2][6]. - The global transition to clean energy and increasing demand for copper are highlighted as significant market drivers, alongside challenges such as declining reserve grades and geopolitical risks [2]. Board Changes - Mr. Stef Weber has been appointed to the Board of Directors, bringing over 25 years of experience in the mining industry, particularly in finance and project development [3][4]. - The company expressed gratitude to Ms. Gemma Tually for her contributions to the Board [3]. Financial Updates - The company has entered into a fifth variation agreement to its bridge loan, increasing the borrowing capacity from up to US$50 million to US$59.5 million, with an extended maturity date to June 30, 2026 [7][8].