Crazy Horse Resources is the owner and operator of the Taysan Project, an advanced copper-gold porphyry deposit located 100km south of Manila, Philippines and 20 km away from the country's major port.
The Taysan Project has a resource estimate of 459 million tonnes in the measured and indicated categories using a cut-off of 0.1% copper and an additional 509 million tonnes in the inferred category. Based on measured and indicated resources, contained copper is 2.6 billion pounds; contained gold is1.5 million ounces; contained silver is 12.3 million ounces; and contained magnetite is 14.9 million tonnes.
A pre-feasibility study (PFS) based on a 15 Mtpa operation was completed in April 2012 and showed robust economics with the Taysan Project having an estimated after-tax NPV of US$512 million and an IRR of 30.4%, including metal by-products. The large measured and indicated resource will provide the basis for the Stage 1 project (15 Mtpa operation for 24 years) which can then be followed by the Stage 2 expansion to either double the throughput rate or extend the mine life to up to 40 years.
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