Spanish Mountain Gold Ltd. Highlights Resource Potential in Cariboo Gold District Webinar
- Spanish Mountain Gold Ltd. highlights 292.1 million tonnes of resources, with an average gold grade of 0.44 g/t.
- The project has potential for a C$2.3 billion NPV and 32% IRR, supporting open-pit mining operations.
- Spanish Mountain Gold prioritizes responsible mining, community engagement, and sustainability in its operations within the Cariboo Gold District.
Spanish Mountain Gold Ltd. Showcases Resource Potential in the Cariboo Gold District
Spanish Mountain Gold Ltd. (TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y) underscores its promising position in the mining sector with a recent webinar that highlights the substantial resources of its Spanish Mountain Gold Project located in the Cariboo Gold District. The project boasts an impressive tonnage of 292.1 million tonnes, presenting an average gold grade of 0.44 grams per tonne (g/t). This translates to an estimated 4.2 million ounces of contained gold classified within the measured and indicated (M&I) categories. The strategic location of the project, just 6 kilometers from Likely and 70 kilometers from Williams Lake, ensures year-round access and is bolstered by favorable infrastructure, enhancing its operational feasibility.
A key factor in the project's attractiveness is the ongoing development of a new 230 kV power line, which promises to deliver a low-cost and renewable power supply crucial for mining activities. Spanish Mountain Gold has successfully completed over 235 kilometers of drilling, which has significantly de-risked the project and highlighted its potential for early cash flow generation. According to the Preliminary Economic Assessment (PEA), the project could achieve an after-tax Net Present Value (NPV) of C$2.3 billion at a gold price of $3,300 per ounce, alongside a robust internal rate of return (IRR) of 32%. Additionally, the project is designed for open-pit mining operations capable of processing 26,000 tonnes per day, with expectations of producing over 6.2 million ounces of silver alongside gold annually.
In its commitment to responsible mining, Spanish Mountain Gold emphasizes minimizing environmental impacts and fostering constructive relationships with local communities. The company actively engages with stakeholders to ensure that its operations align with community interests and environmental standards, thus promoting sustainable development in the region. As the company advances its project, it positions itself as a significant player in the mining industry while prioritizing social responsibility and environmental stewardship.
In related news, Spanish Mountain Gold Ltd. continues to explore avenues for enhancing its operational efficiency and sustainability practices. The company's proactive approach in securing renewable power is part of a broader trend within the mining sector, where environmental considerations increasingly influence project feasibility and community acceptance. As it moves forward, Spanish Mountain Gold aims to leverage its resource wealth while adhering to principles of sustainability and community engagement, setting a benchmark for future mining endeavors in the Cariboo Gold District.