Levon President Ron Tremblay on Mexico PEA

Levon Resources Ltd TSXV:LVN announced the completion of a preliminary economic assessment for its Cordero project in Chihuahua State, Mexico. The PEA projects a 15-year mine life for the first four stages of open-pit mining, with an internal rate of return of 19.5%. Capital costs are estimated at $646.8 million, operating costs at $13.82 per tonne, with a 5.5-year base-case payback. The estimate projects potential metal production over the 15 years of 131.16 million ounces silver, 190,000 ounces gold, 1.37 billion pounds of zinc and 1.03 billion pounds of lead. Cordero is calculated to have a pre-tax NPV of $652.6 million at a 5% discount rate.

The Cordero project has indicated resources of 164.8 million tonnes grading 22.55 g/t silver, 0.078 g/t gold, 0.41% zinc and 0.25% lead. It has inferred resources of 49 million tonnes grading 21.88 g/t silver, 0.037 g/t gold, 0.40% zinc and 0.29% lead.

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