Chesapeake Gold Corp. announced the results of the preliminary economic assessment on Metates gold and silver project located in Durango State, Mexico. The study supports the development of an open pit mine with 27 year mine life processing 90,000 tonnes per day of ore. The mine expects to produce 547,200 ounces of gold annually with silver and zinc byproducts. The initial capital costs, including contingency and working capital and the zinc recovery plant are estimated at $3.19 billion or approximately $153 per ounce of life of mine gold equivalent production.
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