Canada-based gold and silver producer GoGold has announced the results of an initial preliminary economic assessment (PEA) at its Los Ricos North project, in Mexico.
This is the second PEA completed in the Los Ricos district, in addition to the Los Ricos South PEA completed two years ago.
The Los Ricos North PEA calculates a net present value, using a 5% discount, of $413-million, based on a 13-year mine life, producing 110.3-million payable silver equivalent ounces (SEOs).
Production will comprise 68-million ounces of silver, 221 700 oz of gold, 22.8-million pounds of copper, 144.1-million pounds of lead and 242.2-million pounds of zinc.
On average, the mine will produce 8.8-million SEOs at an all-in sustaining cost of $9.68/oz of silver-equivalent.
“Los Ricos North forms a pipeline of growth after the construction of Los Ricos South, which we see as a high-grade bulk underground mine targeted to be our first deposit advanced to production,” said president and CEO Brad Langille.
The company will update the Los Ricos South mineral resource, as well as that project’s PEA, this summer.