STPGF - Steppe Gold files updated preliminary economic assessment on Tres Cruces oxide gold project

(NewsDirect)

Steppe Gold executive vice president AneelWaraich joined Steve Darling from Proactive to unveil significant newsabout the successful completion of an updated preliminary economicassessment for the Tres Cruces Oxide Gold Project situated inPeru.

The project is strategicallylocated within a highly promising geological belt that has alreadyyielded notable mining successes, such as the Lagunas Norte and LaArena mines.

Waraich shared withProactive the key findings from the assessment. The Tres Crucesdeposit boasts a substantial resource, combining oxide and sulphidecategories, with an indicated resource of 2,474,000 ounces of gold ata grade of 1.65 g/t. Notably, within this resource, 630,000 ounces areattributed to leachable gold oxide mineralization, with a grade of1.28 g/t.

Intriguingly, infilldrilling conducted in 2022 validated the continuity of mineralizationwithin the deposit. Metallurgical tests further confirmed theproject's viability, with average gold recoveries of 82%,validating the design assumptions. Even when considering a gold priceof $1700 per ounce, the after-tax net present value of the projectstands at an impressive $158 million, accompanied by a robust internalrate of return of 30.9%.

Despitechallenges posed by inflation-related cost increases, theproject's economic strength remains substantial, suggestingsignificant potential for growth.

Steppe Gold's dedicated team continues to systematicallyadvance the oxide project, with a notable exploration potential stillopen at deeper levels.

These positive results underscore thesoundness of Steppe Gold's approach to resource development, aswell as its capacity to navigate market dynamics and deliver strongfinancial outcomes.

Contact Details

ProactiveCanada

+1 604-688-8158

na-editorial@proactiveinvestors.com

Copyright (c) 2023 TheNewswire - All rights reserved.