Press release - updated resource estimate - (summary only) Highlights of the Point Rousse Project Mineral Resources and Reserves Update include:
- Probable Mineral Reserves for the Point Rousse Project includes 676,955 tonnes containing 36,465 ounces of gold, including 33,850 ounces from Argyle (529,100 tonnes at 1.99 grams per tonne ("g/t") gold) and 2,615 ounces from the 2021 Pine Cove Stockpile (147,855 tonnes at 0.55 g/t gold);
- Economic analysis of the Argyle Mineral Reserves indicates an after-tax Net Present Value at a 5% discount rate (NPV5%") of $17.4M and an Internal Rate of Return ("IRR") of 1,631% based on a $2,000 gold price, as of the September 1, 2021 effective date;
- Total Indicated Mineral Resource of 1,226,655 tonnes at an average grade of 2.55 g/t gold containing 100,445 ounces, and an Inferred Mineral Resource of 53,000 tonnes at an average grade of 5.60 g/t gold containing 9,650 ounces, including:
- Indicated Mineral Resource at Stog'er Tight of 62,300 ounces (642,000 tonnes at a grade of 3.02 g/t gold) and an Inferred Mineral Resource of 9,600 ounces (53,000 tonnes at a grade of 5.63 g/t gold);
- Indicated Mineral Resource at Argyle of 35,530 ounces (436,800 tonnes at a grade of 2.53 g/t gold) and an Inferred Mineral Resource of 50 ounces (500 tonnes at a grade of 2.77 g/t gold); and
- Indicated Mineral Resource of 2,615 ounces from the 2021 Pine Cove Stockpile (147,855 tonnes at 0.55 g/t gold).
* Cautionary statement NI 43-101: The Mineral Resources and Mineral Reserves were prepared in accordance with NI 43-101. Readers are cautioned that Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.