Canamex's Bruner project has some of the best drill intercepts in Nevada, which includes 110 m at 4.08 g/ton of gold and 57.9 m at 5.23 g/ton of gold. A typical grade for open-cut oxide mines (such as Bruner) is 0.5 g/ton. The project is currently estimated to have total resources of around 391,000 oz of gold and 3,641,000 oz of silver, with potential expansion of these resources through further drilling, and over 80% of the project relatively unexplored.

At a gold price of USD 1,500 per oz, Bruner’s projected internal rate of return (IRR) is over 60% pre-tax. A good mining operation typically has a pre-tax IRR of 20% and above. The average annual gold production is forecast at 42,500 oz over 10 years, at an average cost of USD 577 per oz for the initial two years, giving a capital payback period of fewer than 15 months.
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