Pre-feasibility Study Update
A pre-feasibility study ("PFS") is on-going for the RVP and will utilize the 2012 Resource Estimate presented herein. This PFS involves a consortium of international consultants and engineering firms lead by AGP and is planned to be completed in late Q4-2012. The PFS is following the general concepts defined by the 2010 PEA completed in March 2010 whereby the Colnic and Rovina deposits are mined by conventional open-pit mining and the Ciresata deposit by bulk underground mining with ore processing in a single centralized facility utilizing standard flotation method for Au-Cu recovery.
Work that is +80% completed includes; geotechnical investigations providing design criteria for open-pits, tailing management facility, plant site and waste dumps, rock mechanics investigation at the Ciresata deposit to provide design criteria for the underground mine engineering that includes both sub-level cave and block cave mining methods and initial acid rock drainage analysis for waste dump design. Engineering design is utilizing US$1,150/oz gold and US$2.90/lb copper.
In-progress work includes; metallurgical optimization test work, flow-sheet development, open-pit engineering, design of infrastructure facilities, and mining equipment costing along with costing from local construction and supplier contractors.
In addition, the Corporation continues with its pro-active stakeholder engagement program whereby the local community and government officials are regularly updated on project status.