# Roxmore Resources Announces a Positive Preliminary Economic Assessment for the Converse Gold Project in Nevada Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/roxmore-resources-announces-a-positive-preliminary-economic-assessment-for-the-c--efd944a6-fd2b-44ab-acc1-b7b443bf0615 Original source: https://money.tmx.com/en/quote/RM/news/7878490925687044/roxmore-resources-announces-a-positive-preliminary-economic-assessment-for-the-c Publisher: tmx Original announcement: 2026-04-20T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Roxmore Resources Inc. - Ticker: RM - Exchange: TSX - Region: Nevada - Primary commodity: Gold - Secondary commodities: Silver, Copper - Document categories: Resource update, Economic study, Metallurgy - Extracted: 2026-09-18 18:41:16 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Roxmore Resources has released a Preliminary Economic Assessment \(PEA\) for the Converse Gold Project in Nevada, projecting an after-tax NPV5% of US$2.7 billion and an IRR of 43% at a US$3,600/oz gold price. The project features a 14-year life of mine using an open-pit heap leach method, supported by an updated Mineral Resource Estimate of 321 Mt \(103 Mt Indicated, 218 Mt Inferred\). Reasoning: The announcement of a high-margin PEA for a large-scale gold project in Nevada is highly material, though the high Inferred component and lack of silver in the MRE warrant caution. - Positive factor: Strong economics with 43% IRR and US$2.7B NPV5% at consensus gold price - Positive factor: Large scale resource \(518 Mt total\) - Positive factor: Tier 1 jurisdiction \(Nevada\) - Positive factor: Simple heap leach processing route - Negative factor: High proportion of Inferred resources \(61% of total tonnage\) - Negative factor: PEA is preliminary and includes speculative Inferred resources - Negative factor: Silver not currently included in MRE due to data limitations Facts used in scoring: 4 ## Classification and evidence **PEA Only** Polarity: neutral Definition: Only Class 4 / Initial Assessment economics available. Not bankable. Why it applies: The document reports a Preliminary Economic Assessment \(PEA\) which is a Class 4 study. Evidence · text > results of its Preliminary Economic Assessment \("PEA"\) **Inferred Heavy Feed** Polarity: negative Definition: Material Inferred share of LOM mill feed, or the share is undisclosed. Why it applies: Inferred resources make up 218 Mt of the 318 Mt total resource \(approx 68%\). Evidence · text > Inferred Mineral Resource estimate of 218 Mt **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The PEA was prepared in accordance with NI 43-101 standards. Evidence · text > The PEA was prepared in accordance with the disclosure standards of NI 43-101. **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: The project envisages an open pit heap-leach mine. Evidence · text > The PEA envisages an open pit heap-leach mine **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The source explicitly discloses a revised resource estimate Evidence · text > updated Mineral Resource Estimate **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("agitated leach"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/roxmore-resources-announces-a-positive-preliminary-economic-assessment-for-the-c--efd944a6-fd2b-44ab-acc1-b7b443bf0615#fact-resource-facts-1) Converse Gold Project · gold #### Identity - Project: Converse Gold Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: RM #### Resource scope - Estimate type: resource - Effective date: 2026-03-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: April Barrios - Resource group id: resource:b9cc6a8656d567156b97 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 103000000 - Grade: 0.65 - Grade Unit: g/t - Contained Metal: 2162000 - Contained Unit: koz - Cutoff Grade: 0.18 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-20T00:00:00.000Z Reasoning: Significant resource scale but heavily weighted towards Inferred category. - Positive factor: Large tonnage - Negative factor: High Inferred component Evidence · text > Indicated Mineral Resource estimate \("MRE"\) of 103 million tonnes \(Mt\) at an average gold grade of 0.65 g/t, containing 2.16 million ounces \(Moz\) Au #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/roxmore-resources-announces-a-positive-preliminary-economic-assessment-for-the-c--efd944a6-fd2b-44ab-acc1-b7b443bf0615#fact-resource-facts-2) Converse Gold Project · gold #### Identity - Project: Converse Gold Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: RM #### Resource scope - Estimate type: resource - Effective date: 2026-03-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: April Barrios - Resource group id: resource:ee87f3e04949b07455ba - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 218000000 - Grade: 0.43 - Grade Unit: g/t - Contained Metal: 3.04 - Contained Unit: moz - Cutoff Grade: 0.18 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-20T00:00:00.000Z Reasoning: Inferred resource provides scale but lacks geological confidence. - Negative factor: Speculative category Evidence · text > Inferred Mineral Resource estimate of 218 Mt at an average gold grade of 0.43 g/t containing 3.04 Moz Au. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (1) ### column leach [Link to this fact](https://atlas-extractions.minestarters.com/news/roxmore-resources-announces-a-positive-preliminary-economic-assessment-for-the-c--efd944a6-fd2b-44ab-acc1-b7b443bf0615#fact-metallurgical-facts-3) Converse Gold Project · gold #### Identity - Project: Converse Gold Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: RM #### Test Work - Program Status: preliminary - Test Type: column leach - Processing Route: heap leach - Sample: LOM average across all material types #### Recovery - Recovery: 70.9 % - Recovery Basis: actual\_test #### Reagents - Cyanide: 0.64 kg/t - Lime: 6 kg/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-20T00:00:00.000Z Reasoning: Standard heap leach recovery reported. - Positive factor: Amenable to conventional heap leach Evidence · text > LOM Recoveries: average 70.9% across all material types #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.