http://www.spanishmountaingold.com/i/pdf/2011-11-15_NR.pdf
November 15, 2011 Spanish Mountain Gold Announces Updated Resource Estimate: Increase Reported in all Categories Spanish Mountain Gold Ltd. (“the Company”) (SPA-TSXV) is pleased to announce an updated resource estimate (National Instrument 43-101 compliant) for the wholly owned Spanish Mountain Gold Project (the "Project") in central British Columbia, Canada. This resource estimate is an update to the previous estimate disclosed by the Company in a news release dated November 23, 2010, following the completion of a Preliminary Economic Assessment (“PEA”) for the Project.
This drilling will not affect the ongoing Prefeasibility Study for the Project, which is scheduled for completion in April 2012. The Company also expects to have the in-fill drilling and an updated resource estimate completed in April 2012, at which time it intends to commence a Feasibility Study for the Project.
Gold
(ounces)Silver (ounces)§ Measured§11,390,000 0.81 0.60 300,000 220,000
Indicated§79,710,000 0.59 0.65 1,510,000 1,670,000 Measured plus Indicated 91,090,000 0.62 0.64 1,820,000 1,870,000
Inferred§170,470,000 0.50 0.67 2,740,000 3,670,000
The PEA had established an economic cut-off of 0.2 g/t gold based on assumptions of operating costs for a potential open pit operation. These assumptions will be refined within the pre-feasibility study which is currently underway. The following table presents the updated resource at a cut-off grade of 0.2 g/t gold.
Spanish Mountain updated resources (at a 0.20 g/t gold cut-off)
Classification Tonnes§Gold grade
(g/t)§Silver grade
(g/t) Gold (ounces) Silver (ounces)§ Measured14,950,000 0.68 0.61 330,000§290,000
Indicated123,070,000 0.47 0.64§1,860,000 2,530,000 Measured plus Indicated 138,030,000 0.49 0.64 2,170,000 2,840,000
Inferred339,630,000 0.37 0.65§4,040,000 7,100,000
Bitte tabelle in der pdf ansehen.
mfg Arriba1 |