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KORE Mining Ltd. (OTCQX: KOREF) announced a positive Preliminary Economic Assessment (PEA) for its 100% owned Long Valley Gold Deposit in California, revealing strong economic prospects. The PEA indicates an estimated US$ 263 million NPV5% post-tax, with a 40% IRR at a gold price of US$ 1,600 per ounce. It forecasts production of 100,000 ounces of gold annually over seven years at an all-in sustaining cost of US$ 732 per ounce. Additionally, the project has significant potential upside from unexplored targets and compliance with stringent California regulations.
KORE Mining Ltd. (KOREF) has appointed Michael Tucker as VP Exploration, following his impactful role at Balmoral Resources. This leadership change aims to enhance exploration capabilities across multiple projects. KORE has also expanded its California-based development team for the Imperial gold project, showing commitment to local engagement and project advancement. The company expects to release a preliminary economic assessment for the Long Valley project soon. KORE is well-capitalized, recently securing $7.5 million from Eric Sprott, strengthening its financial position.
KORE Mining Ltd. has initiated a Preliminary Economic Assessment (PEA) for its Long Valley gold project in Mono County, California, expected to yield results by late Q3 2020. This project, featuring a current resource estimate of 1,247,000 ounces of indicated gold and 486,000 ounces inferred, will focus on an open pit mine and heap leach processing. The deposit is notably shallow, which aligns with California's reclamation standards. KORE is leveraging existing infrastructure and skilled labor while exploring further resource expansion through new drilling initiatives.