Internet Gold Golden Lines Ltd C.IGLD

Filing of PEA Technical Report for the Independence Project

[Betteryear2]

Vancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce the filing on an independent Preliminary Economic Assessment ("PEA") for the Company's Independence project which adjoins Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

Independence PEA highlights include:

• After-Tax NPV5% of US$35 million with an IRR of 18% at US$1,700/oz gold and US$24/oz silver
• Significant leverage to metal prices with after-tax NPV5% of US$45M and IRR of 22% at spot prices*
• Average annual production of 32,050 oz gold at an AISC of US$1,078/oz (net of silver credits)
• LOM production of 195,443 oz gold and 1,281,420 oz silver
• LOM after-tax cash flow of US$59 million at Base Case prices and US$72 million at spot prices*
• Initial Capital of US$63 million including working capital and contingencies
• Mine life of 6.1 years exploiting only 60% of the near surface resource contained within a US$1,800/oz gold price pit

* Spot prices used were US$1,799/oz gold and US$22.47/oz silver

 

https://www.newsfilecorp.com/release/113109

aaa