Minnova Corp. is an emerging Canadian gold producer focused on restarting its 100% owned PL Gold Mine located in a tier one mining jurisdiction of Manitoba, Canada. The Company has completed a Positive Feasibility Study in support of its Phase 1 restart plan for the PL Mine. During Phase 1, average annual production rate is forecast at 46,493 ounces over a minimum 5 year mine. The PL Gold Mine is a robust project with low initial capex of C$35 million and a relatively short pre-production timeline forecast at 15 months. The project is permitted for underground mining operations (Environment Act 1207E) and benefits from significant local and regional infrastructure including an existing 1000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth, is fully road accessible and close to existing mining infrastructure.
The PL Deposit resource remains open to expansion. Future underground and surface diamond drill programs will focus on resource expansion, reserve conversion, mine life extension and exploration potential of the entire property. Recent exploration programs have confirmed the expansion potential of the deposit, highlighting the exploration potential of the PL structural trend and point to a positive future of growth and exploration success. The property offers considerable exploration potential beyond the current PL and PL North development plans. The Nokomis satellite deposit is located just 10 kilometers along strike and also is open to expansion with further exploration. It will become part of the mine plan following permitting.
The Company is managed by experience team of geoscientists, mining engineers and finance professionals that have over 150 years of combined experience to successfully guide the project toward production.
