"As our Preliminary Economic Assessment moves to completion, this underground mining study is an important component of logistical analysis," said Jim McKenzie, President & CEO of Ucore. "The report affirms the mining potential at Bokan, and offers insight into the comprehensive PEA which is pending in the near term. The study sets out a crown pillar where the mineralisation outcrops at surface, resulting in a daylight expression that yields minimal environmental disturbance. The report also affirms that high grade content can be accessed close to mine mouth, with a prospective positive effect on initial construction cost and turnaround."
"Further, the prospective minable resource size has been increased by 44% over prior estimates (from 3.7 million tonnes to 5.3 million tonnes)," continued McKenzie, "due to a reduction of cutoff grade. The expected daily production rate for Bokan has also been increased by 50% over previous interim estimates (from 1000 to 1500 tpd), with a potentially material impact on rate of return. Our thanks to the engineering team that delivered this analysis on time and within budget."
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