Western Exploration Files NI 43-101 Technical Report for the Aura Gold Silver Project
Western Exploration (OTCQX:WEXPF) has filed a NI 43-101 Technical Report for its Aura Gold-Silver Project in Nevada, highlighting significant resource increases and positive economic assessment results. The Gravel Creek resource showed a 56% increase in gold resources to 571,000 ounces and an 83% increase in silver resources to 9,726,000 ounces in the inferred category.
The Doby George Heap Leach PEA revealed promising economics with a base case after-tax NPV of US$70.7M and 25.4% IRR at $2,150/oz gold price, potentially increasing to $211.2M NPV with 62.2% IRR at $3,000/oz gold. The project features a 5-year mine life with pre-production capital costs of US$115.2M and attractive all-in sustaining costs of US$1,197 per ounce at $3,000 gold price.
Western Exploration (OTCQX:WEXPF) ha presentato un Rapporto Tecnico NI 43-101 per il suo progetto Aura Gold-Silver in Nevada, evidenziando significativi aumenti delle risorse e risultati economici positivi. La risorsa Gravel Creek ha mostrato un aumento del 56% delle risorse d'oro raggiungendo 571.000 once e un incremento dell'83% delle risorse d'argento a 9.726.000 once nella categoria inferita.
Il PEA del Doby George Heap Leach ha rivelato un'economia promettente con un NPV base dopo le tasse di 70,7 milioni di dollari USA e un IRR del 25,4% al prezzo dell'oro di 2.150 $/oz, potenzialmente aumentando a 211,2 milioni di dollari di NPV con un IRR del 62,2% a 3.000 $/oz. Il progetto prevede una vita mineraria di 5 anni con costi di capitale pre-produzione di 115,2 milioni di dollari USA e costi sostenuti totali attraenti di 1.197 $ per oncia al prezzo dell'oro di 3.000 $.
Western Exploration (OTCQX:WEXPF) ha presentado un Informe Técnico NI 43-101 para su proyecto Aura Gold-Silver en Nevada, destacando aumentos significativos en los recursos y resultados económicos positivos. El recurso Gravel Creek mostró un aumento del 56% en recursos de oro alcanzando 571,000 onzas y un incremento del 83% en recursos de plata a 9,726,000 onzas en la categoría inferida.
El PEA de Doby George Heap Leach reveló una economía prometedora con un VPN base después de impuestos de 70,7 millones de dólares y una TIR del 25,4% a un precio del oro de 2,150 $/oz, que podría aumentar a 211,2 millones de dólares de VPN con una TIR del 62,2% a 3,000 $/oz. El proyecto cuenta con una vida útil de mina de 5 años con costos de capital previos a la producción de 115,2 millones de dólares y costos sostenidos totales atractivos de 1,197 $ por onza al precio del oro de 3,000 $.
Western Exploration (OTCQX:WEXPF)는 네바다에 위치한 Aura Gold-Silver 프로젝트에 대한 NI 43-101 기술 보고서를 제출했으며, 자원 증가와 긍정적인 경제 평가 결과를 강조했습니다. Gravel Creek 자원은 추정 범주에서 금 자원이 56% 증가하여 571,000온스, 은 자원이 83% 증가하여 9,726,000온스에 달했습니다.
Doby George Heap Leach PEA는 금 가격 2,150달러/온스 기준으로 세후 기준 순현재가치(NPV) 7,070만 달러와 내부수익률(IRR) 25.4%의 유망한 경제성을 보여주었으며, 금 가격이 3,000달러/온스일 경우 NPV가 2억 1,120만 달러, IRR이 62.2%까지 증가할 수 있습니다. 이 프로젝트는 5년의 광산 수명을 가지며, 생산 전 자본 비용이 1억 1,520만 달러이고, 금 가격 3,000달러 기준으로 온스당 유지 비용이 1,197달러로 매력적입니다.
Western Exploration (OTCQX:WEXPF) a déposé un rapport technique NI 43-101 pour son projet Aura Gold-Silver au Nevada, mettant en avant des augmentations significatives des ressources et des résultats économiques positifs. La ressource Gravel Creek a montré une augmentation de 56 % des ressources en or à 571 000 onces et une augmentation de 83 % des ressources en argent à 9 726 000 onces dans la catégorie inférée.
Le PEA du Doby George Heap Leach a révélé une économie prometteuse avec une valeur actuelle nette après impôts de 70,7 millions USD et un TRI de 25,4 % à un prix de l'or de 2 150 $/oz, pouvant potentiellement atteindre 211,2 millions USD de VAN avec un TRI de 62,2 % à 3 000 $/oz. Le projet présente une durée de vie minière de 5 ans avec des coûts en capital avant production de 115,2 millions USD et des coûts totaux soutenus attractifs de 1 197 USD par once au prix de l'or de 3 000 $.
Western Exploration (OTCQX:WEXPF) hat einen NI 43-101 Technischen Bericht für sein Aura Gold-Silver Projekt in Nevada eingereicht, der signifikante Ressourcenzuwächse und positive wirtschaftliche Bewertungen hervorhebt. Die Ressource Gravel Creek zeigte einen 56%igen Anstieg der Goldressourcen auf 571.000 Unzen und einen 83%igen Anstieg der Silberressourcen auf 9.726.000 Unzen in der Kategorie „inferred“.
Die Doby George Heap Leach PEA zeigte vielversprechende Wirtschaftlichkeit mit einem Basisfall nach Steuern NPV von 70,7 Mio. USD und einer IRR von 25,4% bei einem Goldpreis von 2.150 USD/oz, der sich potenziell auf 211,2 Mio. USD NPV mit einer IRR von 62,2% bei 3.000 USD/oz erhöhen könnte. Das Projekt verfügt über eine Minenlaufzeit von 5 Jahren mit Vorproduktionskapitalkosten von 115,2 Mio. USD und attraktiven All-in Sustaining Costs von 1.197 USD pro Unze bei einem Goldpreis von 3.000 USD.
- Significant 56% increase in inferred gold resources to 571,000 ounces at Gravel Creek
- 83% increase in inferred silver resources to 9,726,000 ounces at Gravel Creek
- Strong economics with base case after-tax NPV of US$70.7M and 25.4% IRR
- Potential upside case NPV of US$211.2M with 62.2% IRR at $3,000/oz gold
- Competitive all-in sustaining cost of US$1,197 per ounce
- Short payback period of less than 18 months at $3,000 gold price
- Significant initial capital requirement of US$115.2M plus $12.4M working capital
- Relatively low average grade of 1.01 g/t Au
- Short mine life of only 5 years
Reno, Nevada--(Newsfile Corp. - June 25, 2025) - Western Exploration Inc. (TSXV: WEX) (OTCQX: WEXPF) (the "Company" or "Western Exploration") has filed on SEDAR+ a technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on the Aura Project ("Aura" or the "Project"), titled "Preliminary Economic Assessment of the Doby George Deposits and Updated Resource Estimate for the Gravel Creek Gold-Silver Deposits, Aura Gold-Silver Project, Elko County, Nevada" (the "Technical Report"). The Technical Report supports disclosures dated May 8, 2025, titled "Western Exploration Announces Positive Preliminary Economic Assessment for the Doby George Resource at The Aura Project" and June 23, 2025 titled "Western Exploration Announces
Highlights of the updated Gravel Creek MRE include:
A significant increase in grades and ounces, at a 3.0g AuEq/t cutoff*, in the inferred mineral resource category, reflecting the positive contribution from the high-grade vein discovery hosted in Jarbidge rhyolite east of Gravel Creek.
Increased ounces of gold in the inferred mineral resource category from 367,000 ounces Au to 571,000 ounces Au, representing a
56% * increase in ounces of gold and a9% increase in grade of gold.Increased ounces of silver in the inferred mineral resource category from 5,307,000 ounces Ag to 9,726,000 ounces Ag, representing an
83% * increase in ounces of silver and a28% * increase in grade of silver.
Indicated gold equivalent grade, reported at a 3.0 g/t Aueq cutoff*, remained relatively constant between 2021 and 2025 with 216,000 ounces Au and 3,367,000 ounces Ag being reported in the current MRE.
Highlights of the updated Doby George Heap Leach PEA include:
Base Case After-tax NPV of US
$70.7M and an IRR of25.4% using a gold price of US$2,150 increasing to US$211.2M with a62.2% IRR utilizing a US$3,000 /oz gold price (see upside metal price to base case metal price comparison in Table 1)Total Life-of-Mine ("LOM") after-tax net cash flow of US
$271.2M over a five-year project life using US$3,000 gold priceAverage annual operating cash flow of
$112.1M and a less than 18-month payback period using US$3,000 gold priceLOM all-in Sustaining cost of US
$1,197 per ounce at US$3,000 gold price and US$1,152 per ounce at the base case of gold price being US$2,150 LOM average grade of 1.01 g/t Au creating potential for significant profit margins
Estimated pre-production capital costs of US
$115.2M excluding upfront Working Capital of US$12.4M which is credited back to the operation on year five
The Technical Report was prepared by RESPEC Company LLC ("RESPEC") and Kappes, Cassidy & Associates ("KCA") both based in Reno, Nevada with an effective date of June 17, 2025. The Technical Report can be found on the Company's website at www.westernexploration.com and on SEDAR+ at www.sedarplus.ca under the Company's issuer profile.
2025 Exploration Plan
Exploration will continue in 2025 with an approximate 4,000 meter drill program focused on the Tomasina Fault Zone at Wood Gulch. Wood Gulch is a former producing open pit mine and geological reinterpretation based on prior drill results has reprioritized Wood Gulch as a highly prospective target. While Wood Gulch is the focus of Western Exploration's 2025 exploration program, the significant resource increase at Gravel Creek (as described in this news release) supports a more extensive drill program aimed at infill drilling and resource expansion. In addition, the Company will continue to de-risk the project through project refinement, both in terms of potential processing and cost parameters, continued geotechnical work, ongoing environmental studies, and permit planning.
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Technical Information
The Gravel Creek, Wood Gulch and Doby George MREs were prepared for Western Exploration by Mr. Michael S. Lindholm, C.P.G. of RESPEC in Reno, Nevada, who is a qualified person for purposes of NI 43-101 and independent of Western Exploration as defined in Section 1.5 of NI 43-101.
The PEA has been prepared by independent representatives of KCA and RESPEC, each of whom is a "qualified person" (within the meaning of NI 43-101) (each, a "qualified person") and independent of Western Exploration for purposes of Section 1.5 of NI 43-101. At the effective date of the PEA, each qualified person has certified that, to the best of their knowledge, information, and belief, the parts of the PEA for which they were responsible, contain all scientific and technical information required to be disclosed to make the PEA not misleading. The affiliation and areas of responsibility for each qualified person involved in preparing the PEA are provided below.
- Travis Manning, P.E. of KCA - processing design and costs, metallurgy, recovery and cash flow
- Mr. Michael S. Lindholm, C.P.G. of RESPEC - geology, database and MRE
- Kyle Murphy, P.E. of RESPEC - open pit design, mine planning, scheduling and costing
About Western Exploration
Western Exploration is focused on advancing the
Additional information regarding Western Exploration can be found on Western Exploration's corporate website (www.westernexploration.com) and on SEDAR+ (www.sedarplus.ca) under Western Exploration's issuer profile.
For further information, please contact:
Darcy Marud
Chief Executive Officer
Telephone: (775) 329-8119
Email: dmarud@westernexploration.com
Nichole Cowles
Investor Relations
Telephone: (775) 240-4172
Email: nicholecowles@westernexploration.com
Cautionary Statements Regarding Estimates of Mineral Resources
This news release uses the terms measured, indicated, and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. The mineral resource estimate is classified in accordance with CIM Definition Standards for Mineral Resources & Mineral Reserves prepared by the CIM Standing Committee on Reserve Definition, which is incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of the applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). These forward-looking statements, by their nature, require the Company to make certain assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the significance of the results of the MRE; the Technical Report being filed within 45 days of May 8, 2025 (if at all) supporting the results of the MRE described in this news release; the ability of exploration activities, including drilling, to accurately predict mineralization; management's expectations on the grade and extension of mineralization; the accuracy of results from prior exploration activities conducted at the Aura Project; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Doby George, Gravel Creek and Wood Gulch mineral deposits; and the schedule of further drilling and exploration activities. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management's geological modelling; the ability of Western Exploration to complete further exploration activities, including drilling; the uncertain nature of exploration activities; property and royalty interests in respect of the Aura Project; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Western Exploration cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Western Exploration nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Western Exploration does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements and forward-looking information made in this news release concerning Western Exploration, please refer to the continuous disclosure record of Western Exploration on SEDAR+ (www.sedarplus.ca) under Western Exploration's issuer profile. The forward-looking statements set forth herein concerning Western Exploration reflect management's expectations as at the date of this news release and are subject to change after such date. Western Exploration disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256662
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