QUEBEC CITY, March 07, 2019 (GLOBE NEWSWIRE) -- Komet Resources Inc. (TSX-V: KMT) (“Komet” or
the “Company”) is pleased to announce today that a technical report, prepared in accordance with National Instrument 43–101 (“NI
43–101”), has been filed for the Kabaya Gold Resource, located in the southeastern part of the company’s Dabia Sud property,
western Mali, West Africa (“the Report).
The report supports the disclosure made in Komet’s press release issued on January 21, 2019, entitled “Komet
announces initial Mineral Resource Estimate for the Kabaya Prospect.” There are no material differences in assumptions and
estimates contained in the Report from those disclosed in the news release.
The report, dated March 5, 2019, is entitled “Dabia Sud Property, Kabaya Resource, NI 43–101 Technical Report,
Mali” and was prepared by independent “Qualified Person” (as defined in NI 43–101) under the direction of Yann Camus, P.Eng., SGS
Geological Services, Blainville, Canada. The report is available on SEDAR (www.sedar.com) and on the company’s website (kometgold.com).
Highlights of the Resource Estimate include:
- An Indicated Resource of 3.17 million tonnes (Mt) grading 1.03 g/t for 105,000 contained gold ounces and an
Inferred Resource of 0.96 Mt grading 1.14 g/t for 35,000 contained gold ounces at a cut-off grade of 0.40 g/t Au.
- The pit constrained resource is based on optimized pit shells using a gold price of 1350 US$ and a presumed heap leach gold
recovery of saprolite ore.
- Gold mineralization at Kabaya remains open at depth in bedrock and laterally to the southwest and northwest.
Pit-constrained Indicated and Inferred Resources estimates as reported by SGS
Classification |
Tonnage (Mt) |
Au (g/t) |
Ounces (koz) |
Indicated |
3.17 |
1.03 |
105 |
Inferred |
0.96 |
1.14 |
35 |
- Effective date for resources is January 7, 2019.
- The independent QP for this resource estimate is Yann Camus, Eng., SGS Canada Inc.
- The mineral resources are presented at a 0.4 g/t Au cut-off grade in pits.
- The resources are presented without dilution.
- Whittle pits have been utilized based on a gold value of US$1,350/oz.
- Mineral resources that are not mineral reserves do not have demonstrated economic viability. This disclosure does
not include economic analysis of the mineral resources.
- No economic evaluation of the resources has been produced.
- This Resource Estimate has been prepared in accordance with CIM definition (2014).
- Density used is of 1.7 based on measurements and similar projects.
- Capping grade is of 30 g/t Au on original assays.
The Kabaya resource estimate is based on analytical data from trenching and several drill campaigns realized in
2012-2013-2014, 2017 and 2018. Five trenches, totalling 515 m, were realized in 2012–2013. All drilling was performed along
east—west oriented lines with shallow drill holes inclined 50° to the west and consisted mainly of RC holes, totalling
12,530 m.
The independent qualified person for this Press Release, as defined by NI 43–101 guidelines, is Yann Camus P.
Eng., of SGS Canada Inc. —Geological Services (“SGS Geological Services”), who has approved the technical information disclosed in
this press release. The effective date of the technical report is January 7, 2019. Other scientific and technical content related
to drilling in this news release is approved by Mr. Pascal van Osta, P.Geo., Vice President Exploration.
For more Information on Komet Resources Inc.:
Lucas Werner Claessens
Chief Executive Officer
Email: lw.claessens@kometgold.com
Tel: +1-647-647-2285
Investors relations:
Carl Desjardins, Relations publiques Paradox inc.
Email: carldesjardins@paradox-pr.ca
Tel: +1-514-341-0408
About Komet Resources
Komet Resources Inc. is a Canadian-based gold mining and exploration company, listed on the TSX-V, with a focus on exploration and
production at its projects in Burkina Faso and Mali, West Africa.
Forward-looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that may
constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This
forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet’s control. The actual
results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking
information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results
of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated resources, environmental risks (stricter
regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in
developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and
approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the
circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The
forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the
information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking
statements, whether as a result of new information, future events, or any other cause, except if it is required by securities
laws.
Outstanding shares: 73,481,385