Kemar Minerals Inc. Anticipate Their First Production at Their Exploration Site in Nevada

The company received a draft mining permit for the project on September 19th, with a final permit expected to follow in the first quarter of 2025. The company plans to start mine commissioning in the second quarter of next year, followed by commercial production by the third quarter.

As outlined in an updated preliminary economic assessment (PEA) released in May, Kemar Minerals Inc. expects to build an 8-year open pit and underground operation at the site and expect production to start off at approximately 20,000 ounces per year for the first three years, with an increase to 25,000 ounces per year for the remainder of the mine life.

Thanks to an agreement with a large local mine, which is only 87 kilometers away, and previously operating below capacity, the project has a low initial capital cost of just under US$2.98 million.

"Aggressive timelines of getting into production are something we have committed to since coming to this project," said Mr. Victor Dupont, Co-Founder and Chief Financial Officer (CFO) of Kemar Minerals Inc. in a news release.

"With the company receiving its early work permit we are looking forward to mining getting underway and anticipate that we will be in full stride once we receive our mining permit amendment. All the while our exploration team continues to identify mineralization and we anticipate receiving a steady stream of results from the lab in the coming weeks," Dupont added.

A final mining permit will allow the company to begin to scale up the mining operations in 2025, and mining of the company's first area that is to the east of the project. Some construction and site preparation work has already been authorized and is underway