Gord Glenn On Large Resource of PL Mine and Still Open to Expansion
Chairman & CEO of Minnova Corp is Gord Glenn. He says that PL Mine is a resource of 700,000 ounces and is still open to expansion.
Minnova Corp. is a gold development and exploration company. We really have two sides to Minnova. One is the development of the PL Mine. Other is the exploration and upside potential of the PL Mine.
We came in about six years ago from now. We acquired the asset but basically had been in bankers boxes for the better part of 20 years. That resource sits underneath a permitted mill that has a replacement value of about sixty to seventy million dollars. We came out with a positive feasibility study in November of 2017.
That feasibility study highlighted a 50 thousand ton per day operation from our core PL deposit. It does not include satellite Nokomis deposit which can add the production profile, pretty piece of infrastructure for any company. It is the basis for a quick timeline to production which is really what you’re looking for in all mines. You’ve got a core asset that has good financial, economics and exploration of resource expansion potential.
About Minnova Corp
Minnova Corp. is an emerging Canadian gold producer. Its focus is re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a Positive Feasibility Study in support of re-starting the PL Mine. The average annual production rate is 46,493 ounces over minimum 5-year mine life. The resource remains open to expansion and future surface exploration work programs will target resource expansion. The PL Gold Mine has a relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit. An existing processing plant, 7,000 meters of a developed underground ramp is fully road accessible. It is close to existing mining infrastructure in the prolific Flin Flon – Snow Lake Greenstone Belt of Central Manitoba.
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