Chesapeake Gold Corp. (TSXV:CKG) announced the status of the pre-feasibility study for its Metates project Durango State, Mexico.
As quoted in the press release:
The Metates gold-silver project has forecast annual production of 759,000 ounces of gold and 19,959,000 ounces of silver over a 19 year mine life based on the Preliminary Economic Assessment released by M3 Engineering & Technology in March 2011. The PFS that is near completion will be based on the same 120,000 tonnes per day processing rate but incorporate optimized processing circuits and site layouts as well as lower energy costs.
Chesapeake’s President, Randy Reifel, said:
We are confident that the results of the PFS to be released in January will uniquely position the large scale Metates project as one of the most significant gold-silver-zinc producers in a stable political jurisdiction and with superior economic returns.