Brigus Gold Corp. said Wednesday that an independent analysis of its northern Saskatchewan project indicates a net present value of $144.3 million assuming a gold price of $1,250.

The pre-feasibility report, by March Consulting Associates Inc., on the company's development project in northern Saskatchewan also found that at an average price of $1,500 per ounce the net present value of the venture rises to $300 million.

The report, which assumes a 5 percent discount rate with an internal rate of return of 19.6 percent, indicates the mine will have a 13 year life span based on existing reserves of 1.02 million ounces at an average grade of 1.97 grams per metric ton over the first seven years and 1.42 grams per metric ton over the life of the mine.

Average cash operating costs will be $601 per ounce and capital costs will be about $160 million.