STLLR Gold (TSX: STLR; OTCQX: STLRF) and the Tlicho Investment Corp. (TIC), the business arm of the Tlicho government, are planning a solar farm to power operations at the Colomac gold project. Funding of $619,625 over two years has been received from the Canadian Northern Economic Development Agency (CanNor). The total project cost is $774,543, including an investment from TIC.
The project is wholly owned by STLLR and located about 200 km north of Yellowknife, NWT.
Project activities include the purchase and installation of a solar power generation and storage unit (panels, inverters, and batteries) and staff training on the unit’s operation and maintenance. With an estimated life span of 25 years for the solar panels, and 15 years for the batteries, TIC estimates that STLLR Gold will save approximately 51,000 litres of diesel (equivalent to 138 tonnes of CO₂ emissions), reducing STLLR Gold’s camp site diesel consumption by 86%. Solvest has been contracted for the installation of the project.
STLLR completed a preliminary economic assessment for the past-producing Colomac property in 2023. The project has robust economics with an after-tax net present value (5% discount) of $1.2 billion and an internal rate of return of 34.6%, using a gold price of US$1,600/oz. The initial capital cost of $654 million would be paid back in 2.1 years.
Average annual gold production would be 290,000 oz. over 11.4 years, with peak production of 340,000 oz./year.
Read the PEA on www.STLLRgold.com.
