Mansfield Reports Filing of NI 43-101 Technical Report for Lindero Pre-Feasibility Study
07 May 2010 - 7:08AM
Marketwired
Mansfield Minerals Inc. (the "Company") (TSX VENTURE: MDR) is
pleased to announce the SEDAR filing of a National Instrument
43-101 technical report for the recently completed prefeasibility
study on its wholly owned Lindero heap leach gold project in
northwestern Argentina.
Highlights of the NI 43-101 technical report (previously
reported by the Company on March 22, 2010) include:
Pre-tax Project Economics(1)(2)
-------------------------------------------------
Net Present Value
Gold price (US$ million) IRR Payback
($US/oz) Discount Rate (%) (%) (years)
4.0% 6.0% 8.0%
-------------------------------------------------
$850(3) $237 $194 $157 25.9% 2.8
$975 $363 $305 $256 35.4% 2.2
$1,100 $490 $416 $355 44.1% 1.9
1. Project economics have been reported by AMEC on a pre-tax basis.
2. Project economics include a 3% provincial royalty.
3. Base case project scenario.
-- 1.9 million ounces of gold reserves @ 0.19 g/t cut-off.
-- Capital expenditures of US$213 million (includes a US$18 million
contingency).
-- 9.5 year mine life with gold production totaling 1.4 million ounces at a
cash cost of US$407/oz.
-- 161,000 oz gold average annual production in years 1-5 at a cash cost of
US$373/oz.
-- 150,000 oz gold average annual production in years 1-8.
Proceeds of the recently announced private placement financing
will be used to rapidly advance the Lindero bankable feasibility
study.
Qualified Persons for the NI 43-101 Report
The authors of the NI 43-101 technical report are David G.
Thomas (P.Geo.), Jay C. Melnyk (P.Eng.) and Vikram Khera (P.Eng.)
of AMEC Americas Limited, Thomas L. Nimsic (P.Geo.) of American Au
Ag Associates and Daniel W. Kappes (P.E.) of Kappes, Cassiday &
Associates.
The NI 43-101 report can be viewed at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Gordon P. Leask, P. Eng., President and CEO
Caution Regarding Forward-Looking Statements
This press release includes certain statements that may be
deemed "forward-looking statements". All statements in this
discussion, other than statements of historical facts, that address
future exploration drilling, exploration activities, anticipated
metal production, internal rate of return, estimated ore grades,
commencement of production estimates and projected exploration and
capital expenditures (including costs and other estimates upon
which such projections are based) and events or developments that
the Company expects, are forward looking statements. Although the
Company believes the expectations expressed in such forward looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include metal
prices, exploration success, continued availability of capital and
financing, and general economic, market or business conditions.
Accordingly, readers should not place undue reliance on
forward-looking statements.
This news release and the information contained herein does not
constitute an offer of securities for sale in the United States and
securities may not be offered or sold in the United States absent
registration or exemption from registration.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this
release.
Contacts: Mansfield Minerals Inc. (604) 681-4462
www.mansfieldminerals.com
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