#Canada #TRUE NORTH #1911 Gold #PEA #Manitoba

1911 Gold Corporation Unveils Promising PEA for True North Project

1911 Gold Corporation has shared exciting news regarding their True North Gold Project located in southeastern Manitoba, Canada. The preliminary economic assessment (PEA) recently conducted reveals a potentially lucrative gold mining operation, emphasizing its low capital intensity and high return prospects.

Overview of the True North Project

The PEA, prepared by AMC Mining Consultants (Canada) Ltd., outlines key financial figures entirely represented in Canadian dollars. The project’s infrastructure has been valued at over $400 million, indicating a well-developed base to support mining operations.

Management aims to achieve a steady-state production target of 58,114 ounces of gold annually over an anticipated mine life of 11 years. A webinar has been scheduled for February 10, 2026, to discuss these findings in detail.

Economic Potential

Here are some highlights from the PEA regarding the economic metrics:

• - Net Present Value: At a long-term gold price of $3,000 per ounce, the net present value (NPV) stands at $391 million with an internal rate of return (IRR) of 105%. If gold prices reach a consistent $4,800 per ounce, the NPV could soar to $998 million, providing nearly instant payback within just one year.
• - Production Capacity: The True North Project aims to produce 1,215 tonnes per day, with an average yield of approximately 58,100 ounces of payable gold.
• - Cash Flow Generation: Over the life of the mine, the project is projected to generate approximately $545 million in undiscounted after-tax free cash flow, alongside creating approximately 326 full-time jobs in the region.

Low Capital Investment

With initial capital expenditures estimated at $59.2 million, the project is designed to use already existing infrastructures, significantly reducing the financial burden typically associated with mining ventures. Additional necessary capital during the ramp-up phase is estimated at $46.7 million. The total sustaining capital over the life of the mine has been set at approximately $367.2 million, indicating a keen approach to maintaining profitability.

Processing and Production Insights

The process facility, which has a history of producing gold, will utilize an average diluted mill head grade of 4.32 grams per tonne with a recovery rate of 93.5% throughout the mine's lifespan. The estimated cash cost of production is pegged at US$1,390 per ounce, with an all-in sustaining cost (AISC) at US$1,897 per ounce.

Upcoming Milestones

Key milestones include:

• - Production Start: Forecasted to commence in the first half of 2027, with test mining operations slated for late 2026.
• - Growth Potential: 1911 Gold has identified numerous opportunities for increasing production based on newly discovered zones adjacent to existing infrastructure that were not included in the recent study.

Conclusion

The findings from the PEA signify a transformative period for 1911 Gold as they position themselves to leverage the True North Project as not just another mining endeavor but a cornerstone project in a top-tier mining region of Canada.

Under the leadership of CEO Shaun Heinrichs, both economic metrics and the sustainable mining strategy highlight a pathway towards successful production operations while also contributing positively to local communities. As the company moves forward, stakeholders eagerly await continued updates and developments in the coming years, promising an exciting chapter for 1911 Gold Corporation and its stakeholders in the mining industry.