Moss Gold-Silver Project

Projects

Moss Gold-Silver Project


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Moss Deposit Key Attributes:

    • Gold-silver stockwork, brecciated, low sulphidation, epithermal vein system
    • Vein system outcrops at surface for 4,000 ft.
    • No major structural complications

Location and Infrastructure:

    • Reactivating the historic Moss Mine area in Arizona
    • Premier mining jurisdiction in NW Arizona
    • Excellent site access - only 20 minutes from Bullhead City (pop. 35,000)
    • Excellent infrastructure and workforce nearby

Development:

    • Phased development approach to de-risk project development
    • Initial production (Phase I and Phase II) restricted to private lands only
    • Phase I - Pilot Plant heap leaching and gold sales continuing
    • Gold recoveries 82% after 240 days, exceeding PEA assumptions (75% after 270 days)
    • Phase II - Operations production 42,000 oz AuEq/yr. targeted for Q2 2016

*Preliminary Economic Assessment Highlights (Operations - Phase II):

    • Open pit mining and heap leach processing
    • High grade heap leach resource at 1.29 gpt AuEq (M+I)
    • Low strip ratio 1.6:1
    • Assumed metallurgical recoveries 75% for gold and 55% for Silver
    • Mine life 5 yrs
    • 5,000 tpd
    • 42,000 AuEq oz recovered/yr
    • IRR of 88% (pre-tax, pre-royalty@$1300 per oz Au & $26 per oz Ag)
    • Payback of 1.5 years(pre-tax, pre-royalty@$1300 per oz Au & $26 per oz Ag)
    • NPV @5% $82 million (pre-tax, pre-royalty@$1300 per oz Au & $26 per oz Ag)
    • Capital expenditures $26.6 million
    • Capital / average annual oz AuEq production $633/oz
    • Cash costs/oz AuEq $490/oz 

Proven Management:

    • President & CEO, Dick Whittington, took the Farallon Mining Ltd. G-9 Mine from discovery, through construction and into full commercial production in less than four years, taking Farallon's market capitalization from $40 million to $400 million
    • Project Manager, Joe Bardswich, has over 30 years of mine operations experience, including managing the Drumlummon Mine in Montana and the Portland Gold Mine in Arizona
    • Company Director, James (Jim) McDonald, was a co-founder of Alamos Gold and played a key role in advancing development of the Mulatos Mine. From early stage exploration and development increased market capitalization from $6 million to $1.5 billion. Alamos is now a successful mid-tier North American gold producer


*The preliminary economic assessment is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized.  
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