Toronto-listed Canagold Resources has given Ausenco 18 months to complete a feasibility study on its proposed US$110 million New Polaris gold project in northern British Columbia, Canada.
This year’s preliminary economic assessment (PEA) pointed to robust economics for a 80,000-ounces-a-year, circa-nine-year operation able to produce gold at US$530/oz AISC.
Canagold CEO Catalin Kilofliski said a revised resource model, and reserve calculation, plus detailed underground mine plan development, would incorporate results of more than 30,000m of additional, completed drilling.
Ausenco would engineer and design processing facilities, including flotation, bio-oxidation and leaching, and a surface dry stack tailings disposal facility. It would evaluate all feasible renewable power alternatives for the site.
“We’re very pleased with our progress on this project to date and I’m confident this will be another important next step forward for us as we move forward along the path of our development of the company’s flagship asset,” Kilofliski said.