Highlights:
- Updated mineral resource for the Yellowknife Project includes a
measured and indicated resource of 1,059,000 ounces grading 2.33
g/t gold and an inferred resource of 739,000 ounces grading
2.47 g/t gold (Table 1);
- This resource estimate increases GoldMining's aggregated
measured and indicated resource to 10,530,000 ounces
gold (13,429,000 ounces gold equivalent)
and aggregated inferred resource to 12,444,000 ounces
gold (14,896,000 ounces gold equivalent) resulting in a
13% increase in the measured and indicated categories and an 11%
increase in the inferred category across all of its Projects (Table
2);
- Extensive historic exploration work completed on the Project
including diamond drilling (231,600
m in 1,061 holes), underground development (2,399 m), bulk sampling (10,200 t) and positive
metallurgical studies;
- Project is accessible by permitted winter road extending 95 km
north from Yellowknife with nearby
infrastructure including hydro-electric power, air transportation,
service providers and skilled workforce; and
- Located in the mining-friendly jurisdiction of the Northwest Territories, home to major mines
operated by DeBeers, Rio Tinto, and The Washington Companies.
VANCOUVER, March 4, 2019 /CNW/ - GoldMining Inc. (the
"Company" or "GoldMining") (TSX: GOLD; OTCQX:
GLDLF) is pleased to announce an updated mineral resource
estimate for its 100% owned Yellowknife Gold Project (the
"Yellowknife Project" or the "Project"), Northwest Territories, Canada. The
mineral resource estimate was prepared by SRK Consulting (U.S.),
Inc. ("SRK") and includes a measured and indicated resource of
14,108,000 tonnes grading 2.33 g/t gold (1,059,000 ounces) and an
inferred resource of 9,302,000 tonnes grading 2.47 g/t gold
(739,000 ounces) using a variable cut-off of 0.5 and 1.5 g/t gold
for pit constrained and underground resources,
respectively.
This resource estimate updates the previously disclosed historic
estimate completed by the previous owner of the Project, and
importantly represents an 18% increase in the measured and
indicated resource grade versus the historic estimate. Since
its acquisition of the Project, GoldMining has identified numerous
areas for exploration, as well as additional targets for follow-up
within its large land package.
Commenting on today's news release, Garnet Dawson, CEO of GoldMining commented,
"The Yellowknife Gold Project is located in the underexplored
Yellowknife Greenstone Belt, host to historic gold mines including
the Con and Giant Mines located adjacent to the city of
Yellowknife and the Discovery
Mine, located on GoldMining's property. Since acquiring the
Project, the Company has focused on compiling the large historic
database, updating the historic resource estimate and applying for
new Land Use Permits and Water Licence necessary for future
exploration programs. With the updated resource estimate
announced today and the necessary government approvals expected in
the next few months, the Project is well positioned to advance to
the next stage of economic study."
The Yellowknife Project includes five gold deposits with
resource estimates, being Nicholas Lake, Bruce, Ormsby, Goodwin
Lake and Clan Lake, which are located 50 to 95 km north of the city
of Yellowknife. Adjacent to the Ormsby deposit, a 50-person
winterized camp is accessible by winter road or by air via a
1,000-metre-long gravel airstrip from Yellowknife.
Gold mineralization at Nicholas Lake is hosted in a sub-vertical
shear zone that strikes east-west across a granodiorite body or
within meta-sedimentary rocks in close proximity of the
granodiorite. The shear zone contains quartz-sulphide veins
with associated gold mineralization within a zone of silica and
sericite altered granodiorite. The zone measures
approximately 125 m wide, has a
strike length of 225 m and is open at
the current explored depth of 450 m
below surface. The deposit is defined by 27,590 m of surface and underground diamond
drilling in 141 holes and 820 m of
underground development.
The Bruce and Ormsby deposits are hosted in a sub-vertical,
northeast striking shear zone along the eastern margin of
amphibolite near the contact with adjacent meta-sedimentary rocks.
Quartz-sulphide veins and associated gold mineralization have
several orientations typically striking AZ320º to AZ340º and
dipping 10º to 50º to the southwest. The Ormsby deposit
varies from 75 to 150 m in width, has
a strike length of 1,000 metres and is open at the current explored
depth of 550 m. The deposits
are defined by 157,570 m of surface
and underground diamond drilling in 707 holes and 1,579 m of underground development.
Goodwin Lake deposit is hosted in a sub-vertical, northeast
striking shear zone that cuts gabbroic rocks. Similar to the
Bruce and Ormsby deposits, quartz-sulphide veins and associated
gold mineralization within the shear zone have several orientations
with more prominent vein sets striking northeast and dipping
steeply parallel to the shear zone and a shallow dipping,
cross-cutting vein set that strikes northwest. The deposit
varies from 25 to 75 m in width, has
a strike length of 350 m and has been
intersected in drill holes to a depth of 200
m, where the deposit remains open. The Goodwin Lake
deposit is defined by 5,930 m of
surface diamond drilling in 28 holes.
Clan Lake deposit is hosted in a sub-vertical, northwest
striking shear zone that cuts felsic to mafic meta-volcanic
rocks. Quartz-sulphide veins with associated gold
mineralization differ greatly in orientation and overall controls
to vein geometry are poorly understood. Veins commonly have
haloes of silica and sericite alteration. The Main Zone at
Clan Lake, that is host to the bulk of the resource, ranges from
approximately 125 to 250 m in width,
has a strike length of 1,200 m and
has been intersected in drill holes to a depth of 400 m below surface, where it is still
open. A second zone named the 330 Zone has been defined to
the South West of the Main Zone, which dips steeply northeast and
has a strike length of possibly 600 m
with an average thickness of less than 5
m. The Clan Lake deposit is defined by 40,515 m of surface diamond drilling in 185
holes.
Sulphide mineralogy at Ormsby, Bruce, Goodwin Lake and Clan Lake
consists of pyrrhotite, pyrite and arsenopyrite with minor
chalcopyrite, sphalerite and galena. At Nicholas Lake,
sulphide mineralogy includes arsenopyrite, pyrite, pyrrhotite,
sphalerite, galena, chalcopyrite and scheelite.
Metallurgical test work has been performed on composite drill
holes and bulk samples from the Nicholas Lake, Ormsby and Clan Lake
deposits.
Estimation Methodology
The following table sets forth the estimated mineral resource
for the Yellowknife Gold Project.
Table 1: Mineral Resource Statement1, Yellowknife
Gold Project, Northwest
Territories, SRK Consulting (U.S.), Inc., March 1, 20192.
Deposit
Type
|
Deposit
Area
|
Resource
Category
|
Quantity
|
Average
|
Contained
Metal
|
000's
|
Grade
|
000's
|
Tonnes
|
Au
g/t
|
Au
Oz
|
Pit
Constrained
|
Ormsby3,4
|
Measured
|
1,176
|
2.12
|
80
|
Subtotal
|
1,176
|
2.12
|
80
|
Ormsby3,4
|
Indicated
|
10,568
|
2.25
|
766
|
Bruce3,4
|
244
|
1.85
|
15
|
Clan
Lake3,4
|
0
|
0.00
|
0
|
Nicholas
Lake3,4
|
1,550
|
2.72
|
137
|
Subtotal
|
12,362
|
2.31
|
917
|
Subtotal
|
Measured &
Indicated
|
13,538
|
2.29
|
997
|
Ormsby3,4
|
Inferred
|
1,382
|
2.30
|
102
|
Bruce3,4
|
591
|
1.80
|
34
|
Clan
Lake3,4
|
1,548
|
1.82
|
91
|
Goodwin
Lake3,4
|
870
|
1.18
|
33
|
Nicholas
Lake3,4
|
1,073
|
2.15
|
74
|
Subtotal
|
5,464
|
1.90
|
334
|
Underground
|
Ormsby5,6
|
Indicated
|
524
|
3.41
|
57
|
Bruce5,6
|
37
|
2.87
|
3
|
Clan
Lake5,6
|
0
|
0.00
|
0
|
Nicholas
Lake5,6
|
10
|
2.95
|
1
|
Subtotal
|
571
|
3.36
|
62
|
Ormsby5,6
|
Inferred
|
1,423
|
3.69
|
169
|
Bruce5,6
|
502
|
2.94
|
48
|
Clan
Lake5,6
|
1,226
|
2.74
|
108
|
Nicholas
Lake5,6
|
687
|
3.59
|
80
|
Subtotal
|
3,838
|
3.28
|
405
|
All
|
Total
|
Measured &
Indicated
|
14,108
|
2.33
|
1,059
|
Total
|
Inferred
|
9,302
|
2.47
|
739
|
Table 1
Notes:
|
|
|
|
1.
|
Mineral resources are
not mineral reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the
mineral resources will be converted into mineral reserves. The
estimate of mineral resources may be materially affected by
environmental permitting, legal, title, taxation, sociopolitical,
marketing or other relevant issues.
|
2.
|
All quantities are
rounded to the appropriate number of significant figures;
consequently, sums may not add up due to rounding.
|
3.
|
Pit constrained
resources with reasonable prospects of eventual economic extraction
stated above a 0.50 g/t Au cut-off.
|
4.
|
Pit optimization is
based on an assumed gold price of US$1,500/oz, metallurgical
recovery of 90%, mining cost of US$2.00/t and processing and
G&A cost of US$23.00/t.
|
5.
|
Underground resources
with reasonable prospects of eventual economic extraction stated as
contained within gold grade shapes above a 1.50 g/t Au
cut-off.
|
6.
|
Mineral resource
tonnage and grade with reasonable prospects of eventual economic
extraction are reported as undiluted and reflect a bench height of
3.0 m.
|
SRK obtained the drill hole databases from archived files used
in the 2012 feasibility study mineral resource estimate. The
databases were imported into Seequent Leapfrog® Geo ("Leapfrog") on
which SRK performed standard validation tests to ensure the
integrity of the database. Geological and mineralized domains
(wireframes) were constructed for each deposit based on surface
mapping, core logging and historical records. Geological and
gold grade domains were constructed using three-dimensional
implicit and explicit modelling along identified historical
mineralization trends.
Wireframes produced in Leapfrog along with the drill hole
databases were subsequently imported into Datamine™ Studio RM
Software (Datamine™) for block model estimation. Block models
were constructed for each deposit using 3 by 3 by 3 m block dimensions, similar to the block size
used in the 2012 estimate to reflect the selective mining unit.
Gold samples were composited to 1.5
m in length within each domain that honored the domain
boundaries. Erratic high-grade gold outliers were analyzed at
each of the deposits utilizing Phinar Software's X10 software,
which were then analyzed both visually and statistically for breaks
in trend. Key breaks in the gold grade were reviewed and the
percentage of samples capped, impact on the mean grade, and the
reduction in the co-efficient of variation were noted.
Variography was used to model the grade continuity and to determine
the search ellipse orientations and dimensions for interpolation at
each deposit.
SRK completed Kriged (Ordinary Kriging), Inverse Distance
Squared and Nearest Neighbor estimates for each deposit.
Ordinary Kriging was chosen as the primary estimation method for
all deposits except for Clan Lake, which displayed relatively poor
geostatistical continuity and inverse distance squared was used for
interpolation. This lower confidence was reflected in the
inferred classification of the deposit. Grades were
interpolated into each block using a two- or three-pass estimation
methodology using ever increasing search ellipses for each
pass. Validation of the model was completed by comparison of
the block model and drill hole grades by visual inspections in
section and plan across the deposit.
Resource Classification
Block model quantities and grade estimates for the Project were
classified according to the Canadian Institute of Mining,
Metallurgy and Petroleum Definition Standards for Mineral Resources
and Mineral Reserves (May 2014).
SRK's classification system is similar to that used in the 2012
estimate with adjustments at some deposits based on
re-interpretation of geology.
Nicholas Lake
Indicated Mineral Resources were blocks within the modelled
veins above the 150 m elevation that
were informed by a minimum of 2 drill holes on either the first or
second search pass.
Inferred Mineral Resources were blocks in the model that do not
meet the criteria for Indicated resources and have been informed by
a minimum of one drill hole on the second or third estimation
search pass.
Ormsby and Bruce
Measured Mineral Resources (Ormsby only) were blocks informed by
a minimum of 2 drill holes within a drill spacing of 12.5 m and deemed to have sufficient geological
confidence to confirm grade continuity.
Indicated Mineral Resources were blocks informed by a minimum of
two drill holes internal to either the Measured or the Indicated
classification solids and estimated on either the first or second
estimation pass.
Inferred Mineral Resources were blocks in the model that do not
meet the criteria for Measured or Indicated resources and have been
informed by a minimum of one drill hole on the third estimation
search pass.
Goodwin Lake
All blocks have been classified as Inferred Mineral Resources
due to the relatively wide drill hole spacing.
Clan Lake
All blocks have been classified as Inferred Mineral Resources
due to the relatively wide drill hole spacing, lack of geological
continuity as displayed in the variography and during the
geological modelling process.
Reasonable prospects for eventual economic extraction of the
resource were met by reporting the resource within a conceptual pit
shell using a cut-off grade of 0.5 g/t and resources below the pit
using a cut-off grade of 1.5 g/t gold. Conceptual pit shells
were generated using Maptek Lerchs Grossman software for pit
optimization. The conceptual pit delineated resource is
reported within a conceptual pit shell using an assumed gold price
of US$1,500/oz, metallurgical
recovery of 90%, mining cost of US$2.00/t and processing and G&A cost of
US$23.00/t. Underground
resources with reasonable prospects of eventual economic extraction
were stated as those contained within gold grade shapes above a
1.50 g/t Au cut-off.
The SRK 2019 measured and indicated resource has seen a
reduction in the in-situ ounces of 38%, but an increase in overall
grade of 18%, while the inferred resource had a 52% increase in the
in-situ ounces, but a 6% decrease in overall grade as compared to
the SRK 2012 SRK resource estimate. SRK attributes these
changes to more conservative geological modelling, block model
interpolation parameters and classification.
Further details regarding the foregoing estimate, including the
estimation methods and procedures, will be available in a NI 43-101
Technical Report, which will be filed on SEDAR (www.sedar.com)
under the Company's profile within 45 days from the date of this
release.
Quality Control – Quality Assurance Program
The above resource estimate was based on drilling programs
completed by previous operators. The drill programs
incorporated control samples including blanks, duplicates and
standards as part of their Quality Control – Quality Assurance
Program. The control samples from the drill programs have
been reviewed and verified by the Qualified Persons (as defined
herein) and the assay results were deemed suitable for resource
estimation.
Qualified Person
The resource estimate disclosed herein on the Yellowknife
Project was prepared for GoldMining by Ben
Parsons, B.Sc., M.Sc., MAusIMM (CP), of SRK Consulting
(U.S.), Inc. and Mr. Dominic
Chartier, P.Geo. (APGO #2775 and OGQ #874), of SRK
Consulting (Canada) Inc. Mr.
Parsons and Mr. Chartier are recognized as qualified persons as
defined in Canadian National Instrument 43-101 ("NI 43-101"), are
independent of the Company and have reviewed and approved the
disclosure regarding the resource estimate for the Yellowknife
Project disclosed herein. Mr. Chartier completed a site visit
to the Yellowknife Project from September 25
to 26, 2018.
SRK previously completed a resource estimate on the Project in
2012 as part of a feasibility study for the previous owner.
No new exploration work or drilling has been completed on the
Project since the last estimate or the effective date of
March 1, 2019 of this estimate.
Paulo Pereira, President of
GoldMining Inc. has reviewed and approved the technical information
contained in this news release. Mr. Pereira holds a Bachelors
degree in Geology from Universidade do Amazonas in Brazil, is a Qualified Person as defined in NI
43-101 and is a member of the Association of Professional
Geoscientists of Ontario.
Cautionary Note
Investors are cautioned not to assume that any part or all of
the mineral deposits in the "measured", "indicated" and "inferred"
categories will ever be converted into mineral reserves with
demonstrated economic viability or that inferred mineral resources
will be converted to the measured and/or indicated categories
through further drilling. In addition, the estimation of
inferred resources involves far greater uncertainty as to their
existence and economic viability than the estimation of other
categories of resources. Under Canadian rules, estimates of
Inferred Mineral Resources may not form the basis of
pre-feasibility or feasibility studies.
About GoldMining Inc.
GoldMining is a public mineral exploration company focused on
the acquisition and development of gold assets in the
Americas. Through its disciplined acquisition strategy,
GoldMining now controls a diversified portfolio of resource-stage
gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia and Peru. Additionally,
GoldMining owns a 75% interest in the Rea Uranium Project, located
in the Western Athabasca Basin of
Alberta, Canada.
Table 2: GoldMining's Aggregated Mineral Resource Statement
across all its Projects1,2,3.
Deposit
|
Cut-off4
(g/t)
|
Tonnage
(Mt)
|
Grade
|
Contained
Metal
|
Gold
(g/t)
|
Silver
(g/t)
|
Copper
(%)
|
Gold
Eq
(g/t)
|
Gold
(Moz)
|
Silver
(Moz)
|
Copper
(Mlbs)
|
Gold
Eq
(Moz)
|
Measured
Resources
|
Titiribi5
|
0.3
|
51.600
|
0.49
|
-
|
0.17
|
0.78
|
0.820
|
-
|
195.1
|
1.290
|
Yellowknife13
|
0.5/1.5
|
1.176
|
2.10
|
-
|
-
|
2.10
|
0.080
|
-
|
-
|
0.080
|
Total
|
|
|
|
|
|
|
0.900
|
-
|
195.1
|
1.370
|
Indicated
Resources
|
Titiribi5
|
0.3
|
234.200
|
0.51
|
-
|
0.09
|
0.65
|
3.820
|
-
|
459.3
|
4.930
|
Sao
Jorge6
|
0.3
|
14.420
|
1.54
|
-
|
-
|
1.54
|
0.715
|
-
|
-
|
0.715
|
Cachoeira7
|
0.35
|
17.470
|
1.23
|
-
|
-
|
1.23
|
0.692
|
-
|
-
|
0.692
|
Whistler8
|
0.3
|
110.280
|
0.50
|
1.76
|
0.14
|
0.79
|
1.765
|
6.130
|
343.1
|
2.797
|
La
Mina9
|
0.25
|
28.170
|
0.74
|
1.77
|
0.24
|
1.12
|
0.667
|
1.607
|
150.2
|
1.013
|
Crucero12
|
0.4
|
30.653
|
1.00
|
-
|
-
|
1.00
|
0.993
|
-
|
-
|
0.993
|
Yellowknife13
|
0.5/1.5
|
12.933
|
2.35
|
-
|
-
|
2.35
|
0.979
|
-
|
-
|
0.979
|
Total
|
|
|
|
|
|
|
9.630
|
7.737
|
952.7
|
12.059
|
Measured and
Indicated Resources
|
Total
|
|
|
|
|
|
|
10.530
|
7.737
|
1,147.8
|
13.429
|
Inferred
Resources
|
Titiribi5
|
0.3
|
207.900
|
0.49
|
-
|
0.02
|
0.51
|
3.260
|
-
|
77.9
|
3.440
|
Sao
Jorge6
|
0.3
|
28.190
|
1.14
|
-
|
-
|
1.14
|
1.035
|
-
|
-
|
1.035
|
Cachoeira7
|
0.35
|
15.667
|
1.07
|
-
|
-
|
1.07
|
0.538
|
-
|
-
|
0.538
|
Whistler8
|
0.3/0.6
|
311.260
|
0.47
|
2.26
|
0.11
|
0.68
|
4.626
|
22.617
|
713.5
|
6.731
|
La
Mina9
|
0.25
|
12.394
|
0.65
|
1.75
|
0.27
|
1.07
|
0.260
|
0.697
|
73.3
|
0.427
|
Boa
Vista10
|
0.5
|
8.470
|
1.23
|
-
|
-
|
1.23
|
0.336
|
-
|
-
|
0.336
|
Surubim11
|
0.3
|
19.440
|
0.81
|
-
|
-
|
0.81
|
0.503
|
-
|
-
|
0.503
|
Crucero12
|
0.4
|
35.779
|
1.00
|
-
|
-
|
1.00
|
1.147
|
-
|
-
|
1.147
|
Yellowknife13
|
0.5/1.5
|
9.302
|
2.47
|
-
|
-
|
-
|
0.739
|
-
|
-
|
0.739
|
Total
|
|
|
|
|
|
|
12.444
|
23.311
|
864.7
|
14.896
|
Table 2
Notes:
|
|
1.
|
Mineral resources are
not mineral reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the
mineral resources will be converted into mineral reserves. The
estimate of mineral resources may be materially affected by
environmental permitting, legal, title, taxation, sociopolitical,
marketing or other relevant issues.
|
2.
|
The above
aggregated resource table is provided for informational purposes
only and is not intended to represent the viability of any project
on a standalone or aggregated basis. The exploration and
development of each project, project geology and the assumptions
and other factors underlying each estimate, are not uniform and
will vary from project to project. Please refer to the technical
report for each respective project, as referenced herein, for
detailed information respecting each individual
project.
|
3.
|
All quantities are
rounded to the appropriate number of significant figures;
consequently, sums may not add up due to rounding.
|
4.
|
Gold cut-off for all
projects except for Whistler, which is gold equivalent
cut-off.
|
5.
|
Notes for
Titiribi:
|
|
|
a.
|
Based on technical
report titled "Technical Report on the Titiribi Project Department
of Antioquia, Colombia" prepared by Joseph A. Cantor and Robert E.
Cameron of Behre Dolbear & Company (USA), Inc., with an
effective date of September 14, 2016, which is available
at www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
|
|
b.
|
Gold equivalent
estimated for the Titiribi deposit assumes metal prices of
US$1,300/oz gold and US$2.90/lb copper and recoveries of 83% for
gold and 90% for copper.
|
6.
|
Notes for Sao
Jorge:
|
|
|
a.
|
Based on technical
report titled "Technical Report and Resource Estimate on the São
Jorge Gold Project, Pará State, Brazil" prepared by Porfirio
Rodriguez and Leonardo de Moraes of Coffey Mining Pty Ltd.
("Coffey"), with an effective date of November 22, 2013, which is
available at www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
7.
|
Notes for
Cachoeira:
|
|
|
a.
|
Based on technical
report titled "Technical Report and Resource Estimate on the
Cachoeira Property, Pará State, Brazil" prepared by Gregory Z.
Mosher, P.Geo. of Tetratech, Inc. with an effective date of April
17, 2013 and amended and re-stated October 2, 2013, which is
available at www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
8.
|
Notes for
Whistler:
|
|
|
a.
|
Based on technical
report titled "Technical Report on the Whistler Project" prepared
by Gary Giroux of Giroux Consultants Inc., with an effective date
of March 24, 2016, which is available at
www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
|
|
b.
|
The Whistler Project
is comprised of three deposits: Whistler, Raintree West and Island
Mountain.
|
|
|
c.
|
Gold equivalent
estimated for the Whistler deposit assumes metal prices of
US$990/oz gold, US$15.40/oz silver and US$2.91/lb copper and
recoveries of 75% for gold and silver and 85% for
copper.
|
|
|
d.
|
Gold equivalent
estimated for the Raintree West deposit assumes metal prices of
US$1,250/oz gold, US$16.50/oz silver and US$2.10/lb copper and
recoveries of 75% for gold, 85% for copper and 75% for
silver.
|
|
|
e.
|
Gold equivalent
estimated for the Island Mountain deposit assumes metal prices of
US$1,250/oz gold, US$16.50/oz silver and US$2.10/lb copper and
recoveries of 75% for gold, 85% for copper and 25% for silver
(recovered in copper concentrate).
|
|
|
f.
|
A gold equivalent
cut-off of 0.3 g/t was highlighted in the estimate as a possible
open pit cut-off (Whistler, Raintree-shallow and Island Mountain),
and a gold equivalent cut-off of 0.6 g/t was highlighted in the
estimate as a possible underground cut-off
(Raintree-deep).
|
9.
|
Notes for La
Mina:
|
|
|
a.
|
Based on technical
report titled "Technical Report on the La Mina Project" prepared
by Scott E. Wilson, C.P.G. of Metals Mining Consultants,
Inc. ("MMC") with an effective date of October 24, 2016, which
is available at www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
|
|
b.
|
Gold equivalent
estimated for the La Mina project assumes metal prices of
US$1,275/oz gold, US$17.75/oz for silver and US$2.75/lb for copper
and recoveries of 93% for gold and 90% for copper.
|
10.
|
Notes for Boa
Vista:
|
|
|
a.
|
Based on technical
report titled "Technical Report on the Boa Vista Project and
Resource Estimate on the VG1 Prospect, Tapajos Area, Para State,
Northern Brazil" prepared by Jim Cuttle, Gary Giroux and Michael
Schmulian, with an effective date of November 22, 2013, which is
available at www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
11.
|
Notes for
Surubim:
|
|
|
a.
|
Based on technical
report titled "Technical Report on the Rio Novo Gold Project and
Resource Estimate on the Jau Prospect, Tapajos Area, Para State,
Northern Brazil" ("Surubim Project") prepared by Jim Cuttle and
Gary Giroux, with an effective date of November 22, 2013, which is
available at www.sedar.com under GoldMiningꞌs SEDAR
profile.
|
12.
|
Notes for
Crucero:
|
|
|
a.
|
Pit constrained
resource estimate based on US$1,500/oz gold, mining cost of
US$1.60/t, processing cost of US$16.00/t and pit slope of 47
degrees.
|
|
|
b.
|
Based on technical
report titled "Technical Report on the Crucero Property, Carabaya
Province, Peru" prepared by Greg Z. Mosher with an effective date
of December 20, 2017, which is available at
www.sedar.com under GoldMining's SEDAR
profile.
|
13.
|
Notes for
Yellowknife:
|
|
|
a.
|
Pit constrained
resources with reasonable prospects of eventual economic extraction
reported above a 0.50 g/t Au cut-off.
|
|
|
b.
|
Pit optimization is
based on an assumed gold price of US$1,500/oz, metallurgical
recovery of 90%, mining cost of US$2.00/t and processing and
G&A cost of US$23.00/t.
|
|
|
c.
|
Underground resources
with reasonable prospects of eventual economic extraction stated as
contained within gold grade shapes above a 1.50 g/t Au
cut-off.
|
|
|
d.
|
Mineral resource
tonnage and grade with reasonable prospects of eventual economic
extraction are reported as undiluted and reflect a bench height of
3.0 m.
|
|
|
e.
|
A technical report
documenting the Yellowknife resource estimate, amongst other items,
will be filed in due course and will be available at www.sedar.com
under GoldMining's SEDAR profile.
|
The above aggregated resource statement is provided for
information purposes only. Investors should refer to
the underlying technical reports referenced above for
project-specific factors relating to each resource estimate.
Forward-looking Statements
This document contains certain forward-looking statements
that reflect the current views and/or expectations of GoldMining
with respect to its business and future events, including
expectations and future plans respecting the Project and statements
with respect to the details of the mineral resource estimate.
Forward-looking statements are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about
the business and the markets in which GoldMining operates.
Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including: the inherent risks
involved in resource estimation and the exploration and development
of mineral properties, the uncertainties involved in resource
estimation and interpreting drill results and other exploration
data, the potential for delays in exploration or development
activities, the geology, grade and continuity of mineral deposits,
the possibility that future exploration, development or mining
results will not be consistent with GoldMiningꞌs expectations,
accidents, equipment breakdowns, title and permitting matters,
labour disputes or other unanticipated difficulties with or
interruptions in operations, fluctuating metal prices,
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, including
to fund any exploration programs on the Project. These risks,
as well as others, including those set forth in GoldMiningꞌs
filings with Canadian securities regulators, could cause actual
results and events to vary significantly. Accordingly,
readers should not place undue reliance on forward-looking
statements and information. There can be no assurance that
forward-looking information, or the material factors or assumptions
used to develop such forward looking information, will prove to be
accurate. GoldMining does not undertake any obligations to
release publicly any revisions for updating any voluntary
forward-looking statements, except as required by applicable
securities law.
View original
content:http://www.prnewswire.com/news-releases/goldmining-announces-resource-estimate-for-the-yellowknife-gold-project-northwest-territories-canada-300805382.html
SOURCE GoldMining Inc.