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Bluestone Provides Update on Progress at Cerro Blanco
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Bluestone drills 140 metres of 1 1 g/t gold, 8 2 g/t silver at Blanco, Guatemala – Resource World Magazine
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www.resource-capital.ch
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This press release contains ?forward-looking information? within the meaning of Canadian securities legislation and ?forward-looking statements? within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, ?forward-looking statements?). All statements, other than statements of historical fact, that address activities, events, or developments that Bluestone Resources Inc. (?Bluestone? or the ?Company?) believes, expects, or anticipates will or may occur in the future including, without limitation: the estimated value of the Cerro Blanco Project (the ?Project?); the planned open pit development scenario for the Project; the estimated gold production volume per year from the Project; g
Bluestone Resources Inc : Bluestone Announces Additional Drill Results including 127 meters grading 3 5 g/t Gold and 21 6 meters grading 12 9 g/t Gold, and Grants Stock Options
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Bluestone Resources Inc.: Bluestone Increases NPV of Cerro Blanco by over 275% to $907 Million and Peak Gold Production to over 300 koz per Year
7.5:1
0.78:1
277,000 ounces
231,000 ounces
Mine life
G&A - $2.28/tonne milled
Total operating costs
$570/oz Au
$642/oz Au
$173 M
$272 M per year (years 1-4)
Total production after-tax free cash flow
$2.0 B
IRR (after-tax)
28.5% (base case), 36% ($1,800/oz gold) all in sustaining cash costs (net credits) = (operating costs + offsite costs + royalties + sustaining and closure capital - value of payable silver ounces) / payable gold ounces
Table 2 - Economic Sensitivities, Leverage to Gold Price
Gold price ($/oz)
Permitting and Environmental Baseline Data
Bluestone continues to advance the Cerro Blanco Project application through the national processes, which is well understood and defined. The Company is supported by a reputable in-country expert with extensive experience in permitting natural resource and industrial proje