Scoping study completed at Twin Gold’s Atlanta

A feasibility study is under way at the Atlanta gold project near Boise, Idaho, and operator Twin Gold (TWG-T) says it is in discussions with several sources regarding financing.

A recently completed scoping study, performed by Denver-based Behre Dolbear, examined three possible production plans. The most likely of these postulates 754,000 recoverable ounces gold, with cash operating costs estimated at US$176 per oz. gold, resulting in a net present value of US$50.8 million (at a discount rate of nil) and an internal rate of return of 18.6%. These calculations are based on a gold price of US$325 per oz. and a mine life of seven years.

Resources stand at 22.1 million tons grading 0.06 oz. gold per ton. Twin Gold has an 80% interest in the project, the remainder held by Quest International Resources (QIX-T). The latter, however, is no longer participating in its contractual share of property costs.