Canarc Resource Corp. has received an updated NI 43-101 preliminary economic assessment report for the New Polaris gold mine project in northwestern British Columbia, Canada.
Canarc Resource announced that an updated NI 43-101 preliminary economic assessment report on the New Polaris gold mine project, British Columbia, Canada, has improved the estimated project economics to an 80,000 oz per year gold mine. The report supports a 600 tonnes per day production rate at an average ore grade of 12.5 g/t gold diluted by 20% over a mine life of 8 years with average recoveries of 91% gold in concentrate.
Reported that recent optimization work on the preliminary assessment had improved the project economics. An increased gold price and a decreased Canadian dollar exchange rate have a positive impact on the economics for the New Polaris gold mine project. At a $US 750 per oz gold price and a $US /$CA exchange rate of 0.80, the project generates a pre-tax Net Present Value (NPV) of CA$131.2 million and a pre-tax Internal Rate of Return (IRR) of 28.8%.
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