| Announcement Date: | 2022-03-14 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | NI43-101 |
| Company name: | Anacortes Mining Corp. |
| Project name: | Tres Cruces |
| Location: | Peru |
| Commodities: | Gold |
| Highlight: | PEA results incl. post-tax NPV (5%) of US$165.9M & IRR of 33.0% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, British Columbia–(Newsfile Corp. – March 8, 2022) – Anacortes Mining Corp. (TSXV: XYZ) (OTCQB: XYZFF) (“Anacortes” or the “Company”) is pleased to announce the results of a Preliminary Economic Assessment (PEA) on its Tres Cruces gold oxide project, located in Northern Peru, in the heart of Peru’s premier gold mining district. Anacortes will be hosting a conference call to discuss the results of the PEA, today Tuesday, March 8, 2022 at 4:30 PM EST (1:30 PM PST). This PEA was prepared in accordance with National Instrument 43-101 (“NI 43-101”) and evaluates the economics of mining the Tres Cruces Oxide Gold Deposit through conventional open pit mining and heap leach processing for gold recovery to doré. The study was prepared by M3 Engineering and Technology of Tucson, Arizona and Lima, Peru, in cooperation with Nilsson Mine Services of Pitt Meadows, BC, Transmin Ltd., of Lima, Peru, Advantage Geoservices Ltd. of Osoyoos, BC, and Jeffrey Rowe of Surrey, BC. The current resource prepared by Jeffrey Rowe and James Gray (Advantage Geoservices), published in March 2021, was an update of the Technical Report by Lacroix and Associates (L&A) dated September 2012 for previous owner New Oroperu Resources (which is now a wholly-owned subsidiary of the Company). The estimate used the geologic models of lithology and alteration that were developed for the L&A resource |
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