Posted in | Gold | Mining Business

Columbus Gold and Nord Gold Commence Tender for FS Commissioning on Montagne d'Or Gold Deposit

Columbus Gold Corporation is pleased to announce that it and its partner Nord Gold N.V. have commenced a tender for the commissioning of a Feasibility Study on the Montagne d'Or Gold Deposit, Paul Isnard Project, French Guiana.

Based on positive results from the recent completion of a Preliminary Economic Assessment, 6 (six) senior international mining engineering consulting firms have been invited to submit tenders. An announcement declaring the successful bid is expected in coming weeks. The targeted completion date for the Feasibility Study is Q4 2016.

The recently completed Preliminary Economic Assessment ("PEA") indicated positive results for the Montagne d'Or Gold Deposit including an after-tax Net Present Value (8%) of US$324 million (CDN$415 million at CDN/USA 1.00:0.78 exchange), an after-tax internal rate of return of 23%, and approximately 273,000 ounces of gold produced per year in the first 10 years of production at an All-In Sustaining Capital Cost ("AISC") per ounce of US$711.

Please refer to Columbus's press release dated July 8, 2015 for complete information on the PEA announcement and also visit Columbus Gold's website at:

www.columbusgold.com/i/nr/2015-07-08-pea.pdf

The FS work is being funded by Nord Gold N.V. (LSE: NORD LI) as part of a minimum US$30 million exploration and development program pursuant to which they can earn a 50.01% interest in Montagne d'Or and the Paul Isnard mineral titles. Earn-in also includes completing a Feasibility Study no later than March, 2017. Spending in 2014 was $16 million, and is budgeted at US$10 million for 2015 which will include in-fill drilling to increase confidence in the resource and conversion of the Indicated resources to the Measured category, condemnation drilling of the proposed infrastructure sites, geotechnical and hydrogeological investigations, and advanced metallurgical test work to support processing plant design.

Source: http://www.columbusgoldcorp.com/

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