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BRITISH VIRGIN ISLANDS, Caribbean, July 16, 2018 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX:ORA) ("Aura", the "Company") is pleased to announce results of the positive National Instrument 43-101 Feasibility Study ("FS") for the restart of operations at Aura's wholly owned Aranzazu Mine ("Aranzazu", the "Project") in Zacatecas State, Mexico. The FS was prepared by Aura in collaboration with other external consultants and specialists in different areas such as geology, mining, geotechnical, infrastructure, environment and mineral processing.
The FS demonstrates the technical and economical viability for the restart of operations at the Aranzazu Mine as a newly re-designed underground copper mine with revised development and operational costs, improved head grades, optimized mining methods and enhanced metallurgy.
Rodrigo Barbosa, President and CEO of Aura, stated, "I am proud to announce the restart of Aranzazu. This is a transformational step in the Company's strategy to generate value and growth from projects that have great potential. The feasibility study shows that Aranzazu will increase the Company's revenues and EBITDA and the addition of copper concentrate production at cash costs after gold and silver credits of $1.81 USD/lb will provide a more stable cash flow to those generated from our gold mines. The feasibility study has been an extremely thorough process with a focus on cost reduction while maintaining the highest of standards. We are confident that Aranzazu will be beneficial for all of our stakeholders."
Highlights of the Feasibility Study:
• The Project's key financials are as follows:
• Table 1 shows the updated Mineral Resource model using a Net Smelter Return (NSR) which provides a tighter wireframe and supports a more efficient focus on mining of higher value mineralized zones in the underground mine.
Table 1: 2018 Mineral Resource Estimate
|Category||Cut-off NSR ($/t)||Tonnes (thou.)||Cu (%)||Cu |
|Au (g/t)||Au |
|Measured and Indicated||45||12,485||1.61||444,399||1.08||435||19.93||8,000|