Canagold Resources Ltd (TSX:CCM, OTCQB:CRCUF) announced that it has filed the technical report for the feasibility study of its 100% owned New Polaris gold-antimony project in northwest British Columbia.
The report, titled New Polaris Project, NI 43-101 Technical Report & Feasibility Study, has been prepared in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Canagold first released the highlights from the report in July.
According to the study, the project has an after-tax net present value of $425 million and an internal rate of return of 30.9% with a payback period of 2.4 years, based on a 5% discount rate and a base case gold price of US$2,500 per ounce.
At a spot price of US$3,300 per ounce, the after-tax net present value rises to $793 million, with an internal rate of return of 47.3% and a payback period of 1.7 years.
The life-of-mine after-tax free cash flow is estimated at $649 million using the base case gold price and $1.1 billion using the spot price.
Pre-production capital expenditures are projected at $250 million, and the study outlines an all-in sustaining cost of US$1,247 per payable ounce of gold.
The feasibility study describes a high-grade underground mine with an average diluted grade of 9.94 grams per tonne of gold containing 904,000 ounces. Total recovered gold production over the life of mine is estimated at 805,589 ounces.