Turner said PFS would target a similar scale to the 2020 preliminary economic estimate with a 1,900 tpd operation to produce about 75,000 ounces per year for about 12 years, with peak production of about 100,000 ounces/year.
The company is currently raising just C$5 million, which will fund infill drilling to convert much of the inferred resource into indicated resources. Klaza currently contains 907,000 ounces of gold equivalent grading 6.3 grams per tonne in the indicated grade with another 725,000 ounces grading 3g/t in inferred resources.
“In 2021 we drilled 6,000m of infill and will drill 12,000m this year to convert the remaining inferred resources. That should give us eight to 10 years of resources for the PFS mine plan,” Turner said.
In addition to spending about $3.5 million on infill drilling, Rockhaven will also spend $500,000 on additional metallurgical testing for the PFS.
A working group including the company, First Nation groups and the regulator is also being formed to discuss how each of the various stakeholders would like to see the project progress, such as the open and underground components that may be possible. “We’re hoping that the most economical route will win, given that it will cost us $5/t to mine the ore in an open pit and $60/t underground,” Turner said.
Shares in Rockhaven Resources are trading at C8c, valuing the company at $17 million.