Todays NR = copy FYI
release from Marketwire
Crocodile Gold Files Its Big Hill Project Preliminary Economic Assessment Technical Report
Monday, February 04, 2013..8:54 am
TORONTO, ONTARIO--(Marketwire - Feb. 4, 2013) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") announces that it has filed the National Instrument 43-101 compliant technical report entitled "Preliminary Economic Assessment on the Big Hill Development Project, Stawell Gold Mine, Victoria Australia" in support of the January 31, 2012 news release, which outlined the positive economic results of the project.
The Economic Highlights of the project included:
- Net Present Value of A$40.0M using a gold price of A$1,400/ounces and a discount rate of 10%;
- Production of 2.3 million tonnes at an average grade of 1.65 g/t Au, recovering over 108,000 ounces of gold;
- Project duration of four to five years, including a planned rehabilitation program;
- Stripping ratio of 3.2 to 1;
- Upfront capital requirement of A$17MM;
- The creation of 80-100 jobs for the Stawell Region.
The Technical Report is available on SEDAR at www.sedar.comand on Crocodile Gold's website at www.crocgold.com.
Qualified Person
The PEA conforms to the CIM Definition Standards on Mineral Resources and Mineral Reserves referred to in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The qualified persons (each a "QP") who supervised the preparation of PEA are: Mark Van Leuven BEng in Mining Engineering, MBA (Technology Management), FAusIMM(CP), Principal Mining Engineer for Mining One consultants of, Melbourne, Victoria and, Stuart Hutchin BSc, Applied Geology, MAIG, MAusIMM, Geology Manager for Mining One consultants of, Melbourne, Victoria, Australia. Both QP's are independent of the issuer as defined by NI 43-101.
F. W. Nielsen P.Geo, V.P. Exploration of Crocodile Gold Corp is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release