Chairman & CEO of Minnova Corp., Gord Glenn talks about their PL deposit with a resource of 700,000 ounces and still open to expansion.
“Minnova Corp. is a gold development and exploration company. We really have two sides to Minnova, one is the development of the PL Mine and the other is the exploration and upside potential of the PL Mine itself for resource expansion but also the exploration potential of the property and the belt that we are operating in. We came in about six years ago now, acquired the asset but basically had been in bankers boxes for the better part of 20 years. The PL deposit has a significant resource about 700,000 ounces, it’s still open to expansion. That resource sits underneath a permitted mill, a thousand ton per day mill that has a replacement value about sixty to seventy million dollars. We came out with a positive feasibility study in November of 2017. That feasibility study highlighted a 50 thousand ton per day operation from our core PL deposit. It does not include our satellite Nokomis deposit which can add to the production profile, a pretty significant piece of infrastructure for any company and it really is the basis for our low CAPEX on the project and our quick timeline to production which to me is really what you’re looking for in all mines. You’ve got a core asset that has good financial, good economics and then it also has exploration and resource expansion potential.” – Gord Glenn, Chairman & CEO of Minnova Corp.
Minnova Corp. is an emerging Canadian gold producer focused on re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a Positive Feasibility Study in support of re-starting the PL Mine at an average annual production rate of 46,493 ounces over a minimum 5 year mine life. The resource remains open to expansion and future surface exploration work programs will target resource expansion. The PL Gold Mine has a relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit (Environment Act 1207E), an existing processing plant, over 7,000 meters of developed underground ramp to -135 metres depth, is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon – Snow Lake Greenstone Belt of Central Manitoba.
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