Perpetua Resources Corp T.PPTA

Alternate Symbol(s): PPTA

Metals & Mining Gold

Perpetua Resources Corp. is a development-stage company. The Company operates through mineral exploration in the United States segment. It is primarily engaged in acquiring mining properties with the intention of exploring, evaluating, and placing them into production if warranted. The Company’s principal business is the exploration and, if warranted and subject to receipt of required permitting, redevelopment, restoration and operation of the Stibnite Gold Project in Idaho, the United States. Its Stibnite Gold Project is located in central Idaho, the United States, which lies over 100 miles northeast of Boise, Idaho, over 38 miles east of McCall, Idaho, and approximately 10 miles east of Yellow Pine, Idaho. Its mineral Stibnite Gold Project contains gold, silver, and antimony mineral deposits. It focuses to explore, evaluate, and potentially redevelop three of the deposits known as the Hangar Flats Deposit, West End Deposit and Yellow Pine Deposit.

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Perpetua Resources Corp

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Post by miningboomon Feb 15, 2018 12:40pm

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Post# 27565530

Updated mineral resource estimates

VANCOUVER, B.C., Feb. 15, 2018 (GLOBE NEWSWIRE) -- Midas Gold Corp. (TSX:MAX) (OTCQX:MDRPF) today updated its mineral resource estimates for the Stibnite Gold Project (the “Project”), located in the historic Stibnite-Yellow Pine mining district in Idaho, USA. These updated estimates incorporate: (1) additional drilling completed since 2014 that was focused on converting mineral resources from the inferred to the indicated category within the limits of mineral reserve limiting pit in the 2014 Preliminary Feasibility Study (“2014 PFS”), (2) additional data collected and recovered from pre-Midas Gold activities, and (3) more detailed geological modelling supported by relogging Midas Gold core, rock geochemistry, mapping, alteration modeling and other information. While overall totals and averages have seen modest changes since 2014, key highlights include:

First time definition of a measured resource at Yellow Pine, located at surface, with a grade of 2.5 g/t gold and 0.25% antimony, which would be the first area to be mined under the development plan proposed in the 2014 PFS.
An overall 6% increase in gold grade and a 22% increase in antimony grade in the Yellow Pine deposit, which would be the first deposit to be mined under 2014 PFS, which should benefit project economics as compared to the 2014 PFS.
A 31% increase in antimony contained in the mineral resources for the Project, split between the Yellow Pine and Hangar Flats deposits, potentially increasing production of this critical metal.
On a total project basis, a 2% increase in measured and indicated gold grade and a 3% increase in gold contained in the measured and indicated mineral resources.
The West End deposit saw a 6% increase in gold contained in indicated mineral resources, and a 49% increase in gold contained in inferred mineral resources.
These increases in measured and indicated mineral resources are partially offset by reductions in inferred mineral resources as a result of the updated model and conversion of inferred resources.