Bruner Project Overview

Economic Summary of Canamex‘s Bruner Gold and Silver Project Located in Nevada, United States

David Vincent
Oct 1, 2019 · 4 min read
Image for post
Image for post

Canamex Overview

Canamex Gold Corp is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE:CSQ), and is engaged in fast-tracking toward development of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past producing mines along the Walker Lane Trend.

The Bruner Project

Bruner is the Canamex flagship gold mine development project, located in the prolific gold mining region of Nye County, Nevada. Canamex initially spent USD 6 million to for 70% interest in the project, then purchased the remaining 30% interest for USD 1 million to now own 100% interest in the project.

Highlights of the January 2018 PEA

Drill Intercepts

Bruner has amongst the best drill intercepts in Nevada including 110m at 4.08 g/ton of gold and 57.9m at 5.23 g/ton of gold.

Image for post
Image for post
Bruner has significant exploration potential, with multiple highly prospective un-drilled target areas

Additional Drill Targets

There are three highly prospective focus target areas, which are all highly accessible:

Image for post
Image for post
Drill target areas

Metallurgy & Operations

Oxide heap leach processing is designed for 90% recovery of gold on single stage crushed material.

Image for post
Image for post
PEA Production Process Flow Sheet (January 2018)
Image for post
Image for post
Phase 1 Development-Production Concept scenario on patented land

PEA Facilities Layout

The Bruner project is well located with good infrastructure, at a major structural intersection surrounded by multi-million ounce deposits; and excellent access from Nye County Road and Historic Resource Area drill roads.

Image for post
Image for post
PEA Facilities Layout from the January 2108 PEA

Return & Capital Payback Period

IRR before tax: 54.7% at $1472 per oz Au, 62.7% at 1536 Au per oz and IRR after tax: 49% at $1472 per oz Au, 54.7% at $1536 per oz Au. The initial capex is $US 38 million (including cost of powerline). The average annual gold production of 42,500 ounces Au (8-year mine life with 2-year recovery tail) over 10 years; and $US 577 per oz Au average cash cost for first 2 years of operation

Conclusion

The Bruner gold and silver project is 100% owned by Canamex, and is located in the safe mining jurisdiction of Nevada, USA. The 2018 PEA indicates that this project is robust at current gold prices with pre-tax IRR potentially in excess of 50%, with capital payback in the first 12 months of production.

Canamex Gold Corp

Owner and developer of the prolific Bruner gold and silver…

David Vincent

Written by

BEng, Dip. FP — Market technical analysis, investment banking, corporate advisory, capital markets.

Canamex Gold Corp

Owner and developer of the prolific Bruner gold and silver project in Nye County, Nevada

David Vincent

Written by

BEng, Dip. FP — Market technical analysis, investment banking, corporate advisory, capital markets.

Canamex Gold Corp

Owner and developer of the prolific Bruner gold and silver project in Nye County, Nevada

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store