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Orca outlines two-phase mine with 24.2% IRR

Orca Gold (TSX:ORG) has worked out a 228,000-ounce-per-annum plan for the 70%-owned Block 14 gold project in Sudan, with a twist that sees mining finished after year eight.

Orca outlines two-phase mine with 24.2% IRR Orca outlines two-phase mine with 24.2% IRR Orca outlines two-phase mine with 24.2% IRR Orca outlines two-phase mine with 24.2% IRR Orca outlines two-phase mine with 24.2% IRR

The pits: Orca will mine the majority of ore at the GSS pit

The 14-year project has an estimated cost of US$328 million and a post-tax IRR of 24.2% using a gold price of $1,250 per ounce.

The feasibility study sees production peaking in the sixth year at 251,000oz.

Orca delayed the FS by around six months as it looked at a "new geological interpretation" of the project, where