Post by
Oldschool2022 on Nov 27, 2023 11:02am
New Resource Estimate before year end. .30 target price.
On October 20, 2022, the Company announced a more than doubling of January’s initial NI 43-101 Mineral Resource Estimate, to an Indicated Mineral Resource of 1.9 million ounces (171% increase) and an Inferred Mineral Resource of 1.8 million ounces (89% increase). The Mineral Resource Estimate incorporates two gold deposits that occur on the property, the shear-hosted Wenot deposit and the adjacent intrusive-hosted Gilt Creek Deposit, located 400 m to the north: Wenot Deposit (open pit target): - 14% Increase in Wenot Mineral Resource since January 2022 initial Mineral Resource Estimate: - 756,000 ounces of gold (Indicated) in 17,541,000 tonnes averaging 1.34 g/t Au - 1,112,600 ounces of gold (Inferred) in 20,115,000 tonnes averaging 1.72 g/t Au Gilt Creek Deposit (underground target, under Fennell pit): - Newly brought into Company’s Mineral Resource Estimate: - 1,151,000 ounces of gold (Indicated) in 11,123,000 tonnes averaging 3.22 g/t Au - 665,000 ounces of gold (Inferred) in 6,186,000 tonnes averaging 3.35 g/t Au