The Wasamac property is located approximately 15 km west-southwest of Rouyn-Noranda, Quebec, Canada, in Beauchastel Township, within the central portion of the Abitibi gold mining district. The property consists of three mining concessions covering 757.65 ha and eleven mining claims covering 391.68 ha for a total area of 1,149.33 ha in Beauchastel Township.
The Wasamac property is subject to a Feasibility Study with highlights of:
- Solid output: Annual average gold production of 142,000 ounces over 11 years.
- High return: Pre-tax internal rate of return of 23.6%, net present value of C$522 million and payback period of 3.6 years.
- Low production cost: Production cash costs of US$550/oz (C$720/oz) and all-in-sustaining costs of US$630/oz (C$826/oz).
- CAPEX: Initial capital expenditures of C$464 million, including about C$230 million for the mill and tailings facility.
- Strategic location: Mine infrastructure to be located on newly acquired land next to the Trans-Canada highway and 200 metres from the railway leading to all the main custom milling facilities.
- Strong exploration potential: Deposit largely underexplored at depth and along strike.
Interest: 1.5% NSR Royalty (Buyback right of 0.5% for C$7.5 million is retained by owner of the property)
Location: Rouyn-Noranda, Quebec
Project Status: Development
Counterparty: Yamana Gold (TSX: YRI)