Marketwire
Crocodile Gold Files Technical Reports for the Northern Territory Projects
TORONTO, ONTARIO--(Marketwired - Aug. 14, 2013) - Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) (Crocodile Gold" or the "Company") has filed technical reports prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for the Northern Territory Projects (the "Projects") for each of the five project areas: Cosmo Mine, Burnside, Union Reefs, Pine Creek and Maud Creek (the "Technical Reports"). These filings are in support of the July 24, 2013 news release, which outlined the updates to the estimated mineral reserves and mineral resources of the Projects.
The Technical Reports are available on SEDAR at www.sedar.com and on Crocodile Gold's website at www.crocgold.com.
In addition, the Company announces that the July 24, 2013 press release contained an error in the estimated inferred mineral resource calculation for the Cosmo Mine. This has been rectified in the table below and reconciles to the Technical Reports. Note that the estimated mineral resource tables contained in the July 24, 2013 press release had rounded numbers, which resulted in small changes, plus and minus, to tonnes and contained ounces. The tables below contain no rounding.
| Table 1: NT Measured and Indicated Mineral Resource 31 December 2012 |
| |
|
MEASURED MINERAL RESOURCE |
INDICATED MINERAL RESOURCE |
| Project |
Deposit |
Cut-off
(Au g/t) |
Tonnes |
Grade
(Au g/t) |
Ounces
Gold |
Cut-off
(Au g/t) |
Tonnes |
Grade
(Au g/t) |
Ounces
Gold |
| Cosmo |
Cosmo* |
2.0 |
699,592 |
4.27 |
96,155 |
2.0 |
3,400,712 |
3.51 |
383,767 |
| Burnside |
HowleyB |
|
0.7 |
5,835,904 |
1.22 |
228,907 |
| MottramsB |
|
0.7 |
203,549 |
1.17 |
7,657 |
| North PointB |
|
0.7 |
138,642 |
1.43 |
6,374 |
| Princess LouiseA |
|
0.7 |
394,000 |
1.30 |
16,468 |
| Glencoe |
|
|
|
|
0.7 |
187,460 |
2.12 |
12,777 |
| Rising Tide |
|
0.7 |
292,299 |
1.45 |
13,639 |
| Fountain Head |
|
0.7 |
273,037 |
1.79 |
15,694 |
| Tally Ho* |
|
2.0 |
220,646 |
4.71 |
33,426 |
| Mined Stockpiles |
N/A |
4,800 |
2.46 |
380 |
|
| Union Reefs |
Prospect Claim |
|
2.0 |
449,591 |
5.07 |
73,221 |
| Crosscourse E-Lens* |
|
|
|
|
1.0 |
2,300,669 |
1.85 |
136,883 |
| Crosscourse Western Lode* |
|
|
|
|
2.0 |
191,064 |
3.67 |
22,539 |
| Orinoco |
|
0.5 |
79,780 |
1.32 |
3,386 |
| Pine Creek |
Cox |
|
0.5 |
730,209 |
1.41 |
33,102 |
| Czarina |
|
0.5 |
1,046,138 |
1.80 |
60,604 |
| Gandy's |
|
0.5 |
534,506 |
1.81 |
31,098 |
| International |
|
0.5 |
5,112,082 |
1.19 |
195,585 |
| Kohinoor |
|
0.5 |
469,531 |
1.79 |
27,075 |
| South Enterprise |
|
0.5 |
500,138 |
1.99 |
31,984 |
| Maud Creek |
Maud Creek* |
|
1.0 |
7,733,132 |
3.50 |
870,617 |
| |
TOTAL |
|
704,392 |
4.26 |
96,535 |
|
30,093,089 |
2.28 |
2,204,801 |
| |
|
|
|
|
|
|
|
|
|
| Note: |
* Underground Resource |
| Note: |
A = Crocodile Gold holds 80% interest in this deposit |
| Note: |
B = depleted from mining as of Dec. 31, 2012 |
| |
|
| |
| Table 2: NT Inferred Mineral Resource Estimate 31 December 2012 |
| |
|
INFERRED MINERAL RESOURCE |
| Project |
Deposit |
Cut-off
(Au g/t) |
Tonnes |
Grade
(Au g/t) |
Ounces
Gold |
| Cosmo |
Cosmo*B |
2.0 |
2,348,902 |
3.14 |
237,463 |
| Burnside |
HowleyB |
0.7 |
1,350,719 |
1.41 |
61,231 |
| MottramsB |
0.7 |
169,194 |
1.14 |
6,201 |
| North PointB |
0.7 |
117,279 |
1.31 |
4,939 |
| Glencoe |
0.7 |
32,760 |
2.47 |
2,602 |
| Rising Tide |
0.7 |
371,665 |
1.49 |
17,806 |
| Fountain Head |
0.7 |
98,819 |
1.95 |
6,209 |
| Tally Ho* |
2.0 |
114,491 |
4.86 |
17,879 |
| Kazi |
0.7 |
410,280 |
1.95 |
25,675 |
| Western Arm |
0.7 |
3,383,354 |
1.11 |
120,283 |
| Bridge Creek |
0.7 |
1,799,068 |
1.16 |
66,848 |
| Bon's Rush |
0.7 |
804,590 |
2.33 |
60,396 |
| Iron Blow* |
1.0 |
3,174,876 |
2.08 |
212,315 |
| Union Reefs |
Prospect Claim |
2.0 |
380,245 |
7.23 |
88,415 |
| Crosscourse E-Lens* |
1.0 |
479,092 |
1.96 |
30,171 |
| Crosscourse Western Lode* |
2.0 |
96,240 |
4.05 |
12,526 |
| Low-Grade Stockpiles |
N/A |
260,000 |
0.80 |
6,300 |
| Esmeralda |
0.5 |
1,062,374 |
2.06 |
70,273 |
| Lady Alice |
0.5 |
67,569 |
1.88 |
4,084 |
| Millars/Big Tree/PingQue |
0.5 |
522,538 |
1.79 |
30,118 |
| Orinoco |
0.5 |
17,103 |
2.42 |
1,331 |
| Union North |
0.5 |
559,306 |
1.52 |
27,269 |
| Union South/ Temple |
0.5 |
818,350 |
1.33 |
34,962 |
| Pine Creek |
Cox |
0.5 |
74,431 |
1.36 |
3,254 |
| South Czarina |
0.5 |
294,256 |
1.49 |
14,096 |
| Enterprise |
0.5 |
1,060,569 |
2.57 |
87,632 |
| Gandy's |
0.5 |
482,194 |
2.92 |
45,277 |
| International |
0.5 |
197,309 |
1.29 |
8,183 |
| Kohinoor |
0.5 |
330,938 |
2.67 |
28,448 |
| South Enterprise |
0.5 |
100,688 |
1.35 |
4,372 |
| Maud Creek |
Maud Creek* |
1.0 |
4,191,718 |
2.55 |
343,629 |
| |
TOTAL |
|
25,170,916 |
2.08 |
1,680,188 |
| |
|
| Note: |
* Underground Resource |
| Note: |
A = Crocodile Gold holds 80% interest in this deposit |
| Note: |
B = depleted from mining as of Dec 31 2012 |
Qualified Person
The Technical Reports conform to the CIM Definition Standards on Mineral Resources and Mineral Reserves referred to in NI 43-101 The qualified persons (each a "QP") who supervised the preparation of Technical Reports are: Mark Edwards, MAusIMM (CP), Manager of Geology for Crocodile Gold Corp. and Phil Bremner, FAusIMM, consultant from Mining One Pty of, Melbourne, Victoria, Australia. Phil Bremner is independent of the issuer as defined by NI 43-101.
F. W. Nielsen, P.Geo, V.P. Exploration of Crocodile Gold Corp. is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
About Crocodile Gold
Crocodile Gold is a Canadian gold mining and exploration company with three operating mines in the Northern Territory and the State of Victoria, Australia. The Company has a combined land package in excess of 4,000 sq. km. The objective of Crocodile Gold is to continue production from its three operating mines, Cosmo, Stawell and Fosterville, while also advancing development programs to further organic growth. For additional information, please visit our website www.crocgold.com.
Follow us on Twitter @crocgold_crk or Facebook facebook.com/CrocodileGoldCorp.
Cautionary Note
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations for future performance based on current drill results and past production, expected gold prices, and mineral resource estimates, and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licences, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events that could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.