Brazauro Files 2010 Preliminary Economic Assessment For Tocantinzinho Property
03 März 2010 - 1:00PM
PR Newswire (US)
HOUSTON, March 3 /PRNewswire-FirstCall/ -- Brazauro Resources Corp.
(TSX.V: BZO), a pure-play Brazilian gold exploration company, today
announced that the Preliminary Economic Assessment ("PEA") for the
Company's 100%-owned Tocantinzinho property, conducted by NCL do
Brazil Ltda., has been filed and is available at
http://www.sedar.com/ and at Brazauro's website,
http://www.brazauroresources.com/. The PEA is based on drilling
completed through September 2009 as well as a significant body of
engineering and cost estimation. It concludes that the
44,525-hectare Tocantinzinho property in the underexplored Tapajos
region of Brazil offers compelling economics and earnings potential
for Brazauaro shareholders. The key results of the 2010 PEA and
comparable figures from 2007 were initially announced on February
2, 2010 and include: 2007 PEA 2010 PEA -------- -------- Gold
Price/Oz $550/$900 $900 Oz Produced 1.597M 1.735M Average
Production Oz 123,000/YR 145,000/YR Operating Cash Cost/Oz $353
$490 Initial CAPEX $128M $239M LOM CAPEX $27M $83M Payback Period
8.25 YRS 6.25 YRS IRR 9.6%/34.2% 11.9% 0% NPV $120M/$580M $297M 5%
NPV $42M/$357M $129M Brazauro noted potential increases in value as
follow: - Brazauro management applied its project development
skills and commercial contacts to the PEA results to analyze the
project's sensitivity to power costs of $0.045/kWhr and unit mining
costs of $1.34/tonne - as compared with the PEA assumptions of
$0.095 and $1.44, respectively. Management believes both costs are
achievable and would result in a cash cost of $432/ounce, post-tax
IRR of 15.7%, and a 5% NPV of $198 million. - An average gold price
of $1100 per ounce increases the internal rate of return to 20.6%
with net present values of $585 million at a 0% discount rate and
$328 million at 5%. "Completion of this PEA for Tocantinzinho is an
important milestone in bringing this highly promising deposit in to
production. While drilling is continuing on the property the PEA
results confirm the viability and potential of the project," said
Brazauro President and COO Jim Komadina. About Brazauro: Brazauro
Resources is an established and well-financed gold exploration
company focused on high-potential properties in the Tapajos region
of Brazil. As well as its most advanced property, Tocantinzinho,
Brazauro is also actively exploring other properties including the
nearby Bom Jardim, Piranhas, agua Branca and Andorinhas projects.
The Company's shares are listed on the TSX Venture Exchange under
the symbol BZO-V. Further information is available at
http://www.brazauroresources.com/ Neither 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. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein. Forward-Looking
Statements Certain statements contained in this press release may
constitute forward-looking statements under Canadian securities
legislation which are not historical facts and are made pursuant to
the "safe harbour" provisions under the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based upon the Company's reasonable expectations and
business plan at the date hereof, which are subject to change
depending on economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those
estimated or anticipated future results, achievements or position
expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause the Company's
plans to change include changes in demand for and price of gold and
other commodities (such as fuel and electricity) and currencies;
changes or disruptions in the securities markets; legislative,
political or economic developments in Brazil; the need to obtain
permits and comply with laws and regulations and other regulatory
requirements; the possibility that actual results of work may
differ from projections/expectations or may not realize the
perceived potential of the company's projects; risks of accidents,
equipment breakdowns and labour disputes or other unanticipated
difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in development programs; operating or
technical difficulties in connection with exploration, mining or
development activities; the speculative nature of gold exploration
and development, including the risks of diminishing quantities of
grades of reserves and resources; and the risks involved in the
exploration, development and mining business. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise. DATASOURCE: Brazauro Resources Corp. CONTACT: Brazauro
Resources Corporation, James Komadina, President andChief Operating
Officer, (719) 330-4477; Mark Jones III, Chairman and CEO,(281)
579-3400; Media contact: John Lute, Lute & Company, (416)
929-5883,info@brazauroresources.com
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