SFF featured in Northern Miner Recieved this morning:
"Seafield Resources Ltd. (“Seafield” or “the Company”) was featured in the May 21-27, 2012, issue of The Northern Miner. The article, “Seafield shores up Miraflores” highlights the Company’s recent Preliminary Economic Assessment (“PEA”) that was released on April 23, 2012 and completed by SRK Consulting, Denver. To download a PDF of the article, please CLICK HERE.
Highlights of the PEA include:
- Open pit mine life of 8 years, underground mine life of 10 years and full process production life of 14 years
- Average annual gold production of 71,007 oz (“Au”) in the first 8 years produced from open pit and underground mining; 114,173 oz total from processing of low grade stockpile after year 8 until end of mine life
- Average mill throughput rate of 4,000 tonnes per day (“tpd”)
- Mineable resource of 11.97 million tonnes (“Mt”) of gold:
6.97 Mt at 1.38 g/t Au (open pit mining)
5.0 Mt at 2.27 g/t Au (underground mining)
- Strip Ratio of 2.04:1 (waste : mill feed including low grade stockpile)
- Average cash operating cost of US$ 524/oz during the first 8 years of production when 82% of the gold is produced (excluding royalties of 6.4% and refining charges);
- Initial capital expenditures of US$ 93.7 M;
- IRR of 50% and pre-tax NPV (8%) of US$249 M (based on a gold price of US$ 1,500/oz)
For more information about Seafield Resources Ltd., please visit our website at https://www.sffresources.com/."