A scoping study for Thor Mining PLC's Pilot Mountain tungsten project in Nevada outlined a 12-year life for the project's Desert Scheelite deposit, according to a Sept. 7 release.
Total open pit production for the deposit is pegged at 7.5 million tonnes, with an annual throughput of 650,000 tonnes, generating approximately 1,000 tonnes of scheelite in concentrate per year.
The study generated a net pretax income of US$125 million at the base case, with a payback period of 36 months.
CapEx, meanwhile, is pegged at between US$30 million and US$35 million.
The study also found that the higher-grade Garnet deposit could potentially supplement output from Desert Scheelite with up to 120,000 tonnes per year, and reduce the project payback period to less than 18 months.
Including the contribution from Garnet, the net pretax profit income would total US$202 million.
The company said it is finalizing scopes of work for environmental and other regulatory approvals with the U.S. Federal Bureau of Land Management and the Nevada Department of Environmental Planning.
Pilot Mountain hosts indicated and inferred resources of 11.7 million tonnes grading 0.28% tungsten trioxide, representing 32,720 tonnes of contained metal, at a 0.1% tungsten trioxide cutoff.