Rio2 Limited has reported that there is a slight delay in releasing the findings of the updated prefeasibility study (PFS) for its 100% owned Fenix Gold Project situated in the Atacama Region, Chile. Currently, it is anticipated that the findings will be released in August 2019.
The updated PFS will be completed by a professional and experienced engineering expert team based at Lima, Peru, together with the technical team of Rio2. Each of the engineering consultants, including HLC Ingeniería y Construcción (process design, metallurgical review, and site layout) and Anddes Asociados (geotechnical review and civil design), was involved in the construction and engineering design of the La Arena and Shahuindo gold mines situated in Peru.
STRACON, the mining alliance partners of Rio Alto Mining Limited at La Arena and Shahuindo, offered the contract mining and civil construction details of the updated PFS. Mining Plus will be responsible for mine design, pit optimization, and mine scheduling activities and will help in collecting the technical report regarding the updated PFS.
The updated PFS will essentially concentrate on an optimally configured starter project that enables the shortest possible timeline to construction/production, and a lower initial strip ratio when, higher grades initially being mined, and a lower initial capex compared with the 2014 PFS.
Mr Enrique Garay, MSc. P.Geo (AIG Member), Senior Vice President Geology of Rio2, is the Qualified Person (as defined by NI 43-101) capable of governing the company’s exploration programs and disclosure of drilling results. The scientific and technical information in this news release has been read and approved by him.