Summary:
- Nevada State BMRR has issued a Water Pollution Control Permit for the
Bell Mountain Mine Project - The Permit is one of the Major Permits required to move the project forward
- Previous Environmental Assessment resulted in Finding of No Significant Impact (FONSI) and Record of Decision from the
Federal Bureau of Land Management
The WPCP was received
The WPCP is an integral part of an ongoing permitting process, which has included approval of a Plan of Operations and Environmental Assessment by the
Mr.
About Bell Mountain - A
Eros' 100% owned
- Pre-tax net present value ("NPV" @ 5% and internal rate of return ("IRR") of
$17.6 million and 41.4% respectively, along with a payback period of 1.7 years, using a USD$1,300 /oz price of gold and a USD$17.50 /oz price of silver. - After tax NPV @ 5% and IRR of
$9.3M and 24.7% respectively, with a payback period of 2.7 years. - 4 year mine life, with total production of 60,056 ounces of gold and 408,498 ounces of silver, before expansion based on renewed exploration.
- Life of mine cash cost of
$759 per produced ounce, net of by-product silver and including royalty payments totaling$2.56 million .
Qualified Person
Mr. John D. Welsh, PE of
About EROS
Forward Looking Statements
This release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that we believe, expect or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements reflect our current expectations or beliefs based on information currently available to us. Forward-looking statements in this release include, without limitation, statements with respect to: the closing of the Private Placement and the use of proceeds from the Private Placement. Forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, us. Factors that could cause actual results or events to differ materially from current expectations include, among other things, delays in obtaining or failure to obtain required approvals to complete the Private Placement; and other risks related to our business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, we disclaim any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although we believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty.
Neither the
EROS Resources Corp.
Suite 420 - 789 West Pender Street
T: 604-688-8115
w: www.erosresourcescorp.com
SOURCE
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