Name of the Project
Cariboo gold project.

Location
The project is located in the historic Wells-Barkerville mining camp, in the District of Wells, British Columbia, Canada.

Project Owner/s
Barkerville Gold Mines.

Project Description
A preliminary economic assessment (PEA) has outlined a solid base case for significant and profitable gold production at the Cariboo project, with low capital costs in an extensive brownfield district and superb production expansion potential.

The project will comprise the extraction of the Cow, Valley, Shaft and Mosquito deposits, which together have indicated mineral resources of 12.53-million tonnes grading 5.6 g/t gold and inferred resources of 11.85-million tonnes grading 5 g/t gold.

The PEA envisions mining of up to 4 000 t/d using a longhole mining approach.

The mineralised material will be crushed underground, transported to surface by a vertical conveyor and stored in a silo at the surface concentrator.

The first concentration step will be completed using mineral sorters. Mineral sorter product (sulphide and gold bearing material) will be further crushed using a secondary cone crusher, for which the secondary crusher product will feed either the milling and flotation circuit for further concentration or the final mineralised material silo for transport to Quesnel River mill. Mineral sorter waste will be sent to a waste silo for placement in the waste rock storage facilities. A proportion (limited by the Wells mill design throughput) of the mineral sorter concentrate, as well as particles finer than 12 mm passing through the screens, will feed the flotation concentration circuit.

Potential Job Creation
The project is expected to contribute about 320 permanent jobs during the production phase and an additional 120 during the construction phase.

Net Present Value/Internal Rate of ReturnThe project has an estimated pretax net present value, at a 5% discount rate, of C$632.7-million and an internal rate of return of 34.9%, with a payback after the start of operations of 2.9 years.

Capital Expenditure
Preproduction capital expenditure is estimated at C$305.5-million.

Planned Start/End Date
Mine construction is expected to start mid-2021.

Latest Developments
None stated.

Key Contracts and Suppliers
Allnorth Consultants, BBA, InnovExplo, Golder Associates, Mining Plus Canada Consulting, SRK Consulting and WSP Canada (PEA).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Barkerville Gold Mines, email info@BarkervilleGold.com.