Northern Gold Updates Garrison Property Resource
TORONTO, ONTARIO--(Marketwired - Mar 3, 2014) -
- UPDATED GARRISON PROPERTY GOLD RESOURCE ESTIMATE (includes both
Garrcon and Jonpol deposits):
- MEASURED 521,000 OZ GOLD AVERAGING 1.07 G/TONNE,
- INDICATED 676,000 OZ GOLD AVERAGING 1.40 G/TONNE,
-
- MEASURED + INDICATED 1,197,000 GOLD AU AVERAGING 1.24
G/TONNE
- INFERRED 808,000 AU GOLD AVERAGING 3.19 G/TONNE
- TIGHTENED RESOURCE CONSTRAINTS USING $US1250/TROY OZ GOLD PRICE
AND UPDATED DRILLING RESULTS
- JONPOL HAS 237% INCREASE IN INDICATED GOLD OUNCES (150,000 TROY
OZ GOLD)
- JONPOL DEPOSIT REMAINS OPEN TO THE EAST, WEST AND AT DEPTH
- GARRCON UNDERGROUND REMAINS OPEN AT DEPTH
- GARRCON DEPOSIT RESOURCE IS BROKEN INTO WHITTLE MODELED PIT
SHELL AND UNDERGROUND BULK MINE RESOURCE
- GARRCON - ALL CATAGORIES SHOWED INCREASED GRADE
- UP TO 150,000 TONNE BULK SAMPLE FROM GARRCON TO BE MINED AND
MILLED AT AN OFFSITE TOLL MILL, AS A PART OF NORTHERN'S 2014
ADVANCED EXPLORATION PROGRAM
Northern Gold Mining Inc. (TSX-VENTURE:NGM) ("Northern Gold" or
"the Company") announces the results of an updated resource
estimate for its Garrison Property (Garrcon and Jonpol deposits).
This NI 43-101 report, being independently prepared by A.C.A. Howe
International Limited ("Howe") of Toronto, Ontario, was focused on
tightening the model constraints to reflect current gold pricing
and the latest infill and step out drilling completed by the
Company since the last resource update announced on April 19, 2012.
"Northern Gold's efforts have continued to confirm a significant
gold resource at Garrcon, with both an open pit and underground
potential. Geologic constraints from the infill drilling provided
tighter mineralized domains, as well as the delineation of waste
domains", according to Howe. A Whittle model pit shell was based on
$US 1,250 per troy ounce gold pricing, 0.4 g/tonne block model
cutoff, 55 degree pit wall slope, a top cut of 112 g/tonne Au (high
grade domains) and 114 g/tonne Au (low grade domains) applied to
individual (non-composited) assays, a resource database utilizing
primary assays only (except where historic core was relogged and
historic assays were duplicated, in which case the latter were
used), domain specific directional ellipsoidal searches were used
for block grades, and mine pit parameters developed in the 2011 PEA
(Preliminary Economic Assessment, see press release June 23, 2011).
Material within this optimized pit, and mineralization within 200
meters of surface have been categorized as open pitable resources.
The open pitable resource comprises 29,200,000 tonnes grading 1.12
g/tonne containing 1,047,000 ounces of gold (measured and
indicated), and an additional 1,700,000 tonnes grading 0.72 g/tonne
containing 39,000 ounces of gold (inferred); all in-pit resources
have an approximate stripping ratio of 1.8:1 (waste to resource).
This optimized pit shell was further used to define those blocks
below 200 metres, but outside of the pit shell and having a block
model cutoff of 1.5 g/tonne, as being an inferred underground
resource of 5,10,000 tonnes averaging 3.49 g/tonne and containing
577,000 ounces of gold. The full NI 43-101 Technical Report, along
with plan and sections will be filed on SEDAR within 45 days.
"Northern Gold continues to progress its plans to develop a
producing gold mine on its Garrison property, by de-risking the
project. The updated Garrcon resource, despite significantly
tightening the model constraints, showed increased grades in all
three resource categories. This continues to demonstrate the robust
nature of the deposit and its viability as an open pit mine, and an
underground opportunity with unbounded depth potential. Plans,
budgets and Mine Closure Plans (permits) are being prepared in
support of mining and offsite toll milling of up to 150,000 tonnes
from the Garrcon surface outcrop (see press release dated January
16, 2014). This "proof of concept" testing will provide valuable
mining and milling "real world" data. Upon successful completion of
the bulk sample testing a Feasibility Report will be prepared in
the fall.", said Martin Shefsky, interim President & CEO of
Northern Gold.
|
2014 Total Garrison Property Mineral
Resource Estimate (Garrcon and Jonpol) |
Domain |
Category |
|
Cut Off |
|
Tonnes |
|
Au Grade (g/tonne) |
Au (troy oz) |
Garrcon |
Measured |
|
0.4 |
|
15,100,000 |
|
1.07 |
521,000 |
|
|
|
|
|
|
|
|
|
Garrcon |
Indicated |
|
0.4 |
|
14,100,000 |
|
1.16 |
526,000 |
Jonpol |
Indicated |
|
3.0 |
|
872,000 |
|
5.34 |
150,000 |
Garrcon and Jonpol |
Total Indicated |
|
3.0/0.4 |
|
14,972,000 |
|
1.40 |
676,000 |
Garrcon |
Measured + Indicated |
|
0.4 |
|
29,200,000 |
|
1.12 |
1,047,000 |
Garrcon and Jonpol |
Measured + Indicated |
|
3.0/0.4 |
|
30,072,000 |
|
1.24 |
1,197,000 |
|
|
|
|
|
|
|
|
|
Garrcon |
Inferred |
|
0.4/1.5 |
|
6,800,000 |
|
2.80 |
616,000 |
Jonpol |
Inferred |
|
3.0 |
|
1,073,000 |
|
5.56 |
192,000 |
Garrcon and Jonpol |
Total Inferred |
|
3.0/1.5/0.4 |
|
7,873,000 |
|
3.19 |
808,000 |
This is a summary table for the Garrison Property (Garrcon and
Jonpol deposits). Mineral resources are not mineral reserves and by
definition do not demonstrate economic viability. This mineral
resource estimate includes inferred mineral resources that are
normally considered too speculative geologically to have economic
considerations applied to them that would enable them to be
categorized as mineral reserves. There is also no certainty that
these inferred mineral resources will be converted to the measured
and indicated resource categories through further drilling, or into
mineral reserves, once economic considerations are applied.
For this NI 43-101 resource update (as compared to the 2012
resource update) Howe reviewed the entire assay data set (the
initial resource estimate as filed on SEDAR November 5, 2010, and
the PEA filed on August 8, 2011, as well as the drill data listed
in the June 5, 2012 SEDAR filling for the last resource update, and
finally the latest infill and step out drilling including 54
historic drill holes (1985 to 2007), 256 Northern Gold drill holes
and 18 drill hole extensions (2009 - 2012 - up to GAR-12-270) and
determined that utilizing primary assays (except where historic
assays are duplicated by Northern Gold new core logging and assay,
in which as the latter is used), limits the potential for the
introduction of systematic bias and the artificial 'smoothing' of
assay grades by averaging. A top-cut of 112 g/tonne Au (high grade
domains) and 114 g/tonne Au (low grade domains) was then applied to
individual (non-composited) assays. Howe increased the block model
cut-off grade from 0.3 g/tonne to 0.4 g/tonne. Based on Howe's
statistical review (4,076 measurements) of ongoing specific gravity
(SG) testing by Northern Gold, the average SG was increased
slightly from 2.79 g/cm3 to 2.80 g/cm3 for the mineralized resource
blocks. The new drilling (both in-fill and step-out) confirmed the
uniformity of the mineralization, as well as identified "defined
waste blocks"; all domain modeling is constrained by interpreted
geology. Howe's domains were subjected to individual geostatistic
review, which resulted in domain specific directional ellipsoidal
searches used to estimate block grades (as opposed to
omni-directional search in the previous two resource updates). The
majority of these ellipsoidal searches are approximately 2:2:1
(x:z:y).
As detailed above, the Whittle model pit shell (optimized pit)
was based on a 0.4 g/tonne Block model cutoff grade and optimized
for $US 1,250/troy oz gold, 55 degree pit wall slope, and utilized
the 2011 PEA pit mine parameters. The resultant resource estimate
for the conceptual open pit has a waste to resource strip ratio of
1.8:1 (about 10% lower than the 2011 PEA of 2.0:1). The block
cut-off grade for inferred underground (>200 m depth outside of
the optimized pit shell) was 1.5 g/tonne. Note that mineral
resource tonnes quoted are not diluted.
|
2014 Garrcon Mineral Resource
Estimate Update |
Category |
|
Cut-off |
Tonnes |
Au Grade g/tonne |
Au troy oz |
Open Pitable Resource (US$1250/oz pit shell; 55° pit
slope). |
Measured |
|
0.4 |
15,100,000 |
1.07 |
521,000 |
Indicated |
|
0.4 |
14,100,000 |
1.16 |
526,000 |
Measured + Indicated |
|
0.4 |
29,200,000 |
1.12 |
1,047,000 |
|
|
|
|
|
|
Inferred |
|
0.4 |
1,700,000 |
0.72 |
39,000 |
Underground Resource |
Inferred |
|
1.5 |
5,100,000 |
3.49 |
577,000 |
Total Open Pitable and Underground Resource |
Measured + Indicated |
|
0.4 |
29,200,000 |
1.12 |
1,047,000 |
Inferred |
|
0.4, 1.5 |
6,800,000 |
2.80 |
616,000 |
|
|
Notes on 2014 Garrcon Mineral Resource Estimate: |
- Mineral Resources are calculated with commercial mining
software. Drill holes traces showing lithology and gold grade were
reviewed in plan and cross section.
- The resource estimate has been prepared by Leon McGarry, B.Sc.,
P.Geo., ACA Howe Geologist.
- Cut-off grade for mineralised zone interpretation is 0.1
g/tonne.
- Block cut-off grade for potential open pitable Mineral
Resources is 0.4 g/tonne. Block cut-off grade for potential
underground (>200 m depth) Mineral Resources is 1.5
g/tonne.
- Top-cuts of 112 g/tonne Au (high grade domains) and 114 g/tonne
Au (low grade domains) applied to individual (non-composited)
assays.
- Gold price for the purpose of the resource estimate is $US 1250
per troy ounce.
- Zones extend up to 100 metres down-dip from the last intercept.
Along strike, zones extend halfway to the next cross-section.
- Minimum width is 5 metres, though in no place is the zone that
narrow.
- A specific gravity (bulk density) value of 2.8 is applied to
all blocks - a representative value based on 4,076
measurements.
- Wireframe constrained block model grade interpolation has been
undertaken using Ordinary Kriging (OK).
- Measured mineral resources are defined where three holes are
used to estimate block grades and the average distance to samples
was 36 metres or less. Indicated mineral resources are defined
where three holes are used to estimate block grades and the average
distance to samples was 73 metres or less.
- Mineral Resource tonnes quoted are not diluted.
- No mineral reserves are identified.
- Tonnes and ounces have been rounded to reflect the relative
accuracy of the mineral resource estimate; therefore numbers may
not total correctly.
- Mineral resources are not mineral reserves and by definition do
not demonstrate economic viability. This mineral resource estimate
includes inferred mineral resources that are normally considered
too speculative geologically to have economic considerations
applied to them that would enable them to be categorized as mineral
reserves. There is also no certainty that these inferred mineral
resources will be converted to the measured and indicated resource
categories through further drilling, or into mineral reserves, once
economic considerations are applied.
- 1 troy ounce equals 31.10348 grams.
- The volume/tonnes of volumetrically insignificant historical
underground exploration workings have not been subtracted from this
mineral resource
Jonpol Deposit Mineral Resources
This is the first "new" Jonpol deposit resource update for
Northern Gold since the property was acquired from Val Gold in
2009, and the historic NI 43-101 technical report on the 1996-1999
Hillsborough Resources and Valgold 2005-2007 work was filed on
SEDAR on October 29, 2009. In addition to new drilling completed by
the Company (66 holes and 9 drill hole extensions (2011-2013)) the
biggest change to the resource update was the use of geologically
interpreted 3D wireframe block model grade interpolation that has
been undertaken using Ordinary Kriging (OK). Domain specific
directional ellipsoidal searches are used to estimate block grades,
as opposed to the simple 2D longitudinal polygons. Furthermore a
cut-off grade for mineralized zone interpretation of 3 g/tonne of
gold over a minimum width of 1.5 metres was used in the new
resource, verses a cut-off grade for zone interpretation of
approximately 0.5 g/tonne of gold in the previous report.
Unfortunately many of the historic holes lacked a downhole survey
and have had to be assumed to have no deviation.
This has resulted in an indicated resource estimate with a 344%
increase in resource tonnes (872,000 vs 253,100), but a 2.43 g/t
decrease in grade (due to the change in the block model cutoff, and
minimum mining width), and a 237% increase in gold ounces (150,000
oz Au vs 63,200 oz Au, a 86,800 oz increase). The inferred resource
tonnage estimate decreased by 482,800 tonnes, but the average grade
increased by 0.63 g/tonne to 5.56 g/tonne, resulting in a slight
decrease in gold ounces (-54,540 ounces gold) to 192,000 ounces
gold.
|
2014 Jonpol Underground Mineral Resource Estimate Update |
Zone |
Cut-off |
|
Tonnes |
Au Grade (g/tonne) |
Au (troy oz) |
Indicated |
JD Zone |
3.0 |
|
9,000 |
3.21 |
1,000 |
JP Zone* |
3.0 |
|
411,000 |
4.93 |
65,000 |
RP Zone |
3.0 |
|
97,000 |
4.63 |
14,000 |
East Zone |
3.0 |
|
355,000 |
6.04 |
69,000 |
Total Indicated |
3.0 |
|
872,000 |
5.34 |
150,000 |
Inferred |
JD Zone |
3.0 |
|
199,000 |
6.87 |
44,000 |
JP Zone* |
3.0 |
|
212,000 |
4.49 |
31,000 |
RP Zone |
3.0 |
|
61,000 |
4.32 |
8,000 |
East Zone |
3.0 |
|
601,000 |
5.63 |
109,000 |
Total Inferred |
3.0 |
|
1,073,000 |
5.56 |
192,000 |
* Historic bulk sample tonnages and contained gold are
discounted from the JP Zone estimate (see note 16). |
|
Notes on 2014 Jonpol Mineral Resource Estimate: |
- Mineral Resources are calculated with commercial mining
software. Drill holes traces showing lithology and gold grade were
reviewed in plan and cross section.
- The resource estimate has been prepared by Leon McGarry, B.Sc.,
P.Geo., ACA Howe Geologist.
- Mineralised zone interpretation based on a minimum grade of 3
g/tonne Au over a minimum true width of 1.5 metres.
- Block cut-off grade for potential underground Mineral Resources
is 3 g/tonne.
- Top cut of 100 g/tonne Au applied to non-composited assays in
the East Zone. No top-cut applied in other zones. In zones other
than the East Zone, assay database grade distributions are not
skewed by erratic high values and assays are generally well
constrained by wireframes and drill hole distribution. In ACA
Howe's opinion the use of a top cut will not significantly affect
the results in these zones.
- Gold price for the purpose of the resource estimate is $US 1250
per troy ounce.
- Zones extend up to 50 metres down-dip from the last intercept.
Along strike, zones extend halfway to the next cross-section.
- A default average specific gravity (bulk density) value of 2.8
has been used.
- Wireframe constrained block model grade interpolation has been
undertaken using Ordinary Kriging (OK).
- Indicated mineral resources are defined where the mineralized
zones exhibited good continuity between drill holes on section and
along strike and are informed by 3 or more holes spaced less than
50 metres apart.
- Mineral Resource tonnes quoted are not diluted.
- No Measured Resources or Mineral Reserves of any category are
identified.
- Tonnes and ounces have been rounded to reflect the relative
accuracy of the mineral resource estimate; therefore numbers may
not total correctly.
- Mineral resources are not mineral reserves and by definition do
not demonstrate economic viability. This mineral resource estimate
includes inferred mineral resources that are normally considered
too speculative geologically to have economic considerations
applied to them that would enable them to be categorized as mineral
reserves. There is also no certainty that these inferred mineral
resources will be converted to the measured and indicated resource
categories through further drilling, or into mineral reserves, once
economic considerations are applied.
- 1 troy ounce equals 31.10348 grams.
- A bulk-sampling program on 4 sub-levels in the central part of
the JP Zone was completed in 1996-97 with a total of approximately
50,640 tonnes extracted, which produced 13,564 ounces of gold for
an average recovered grade of 8.3 grams of gold per tonne. This is
comparable to a polygon some 80m in the along strike direction and
30m down dip believed to be centred on the position of the bulk
sample, that outlines 78,400 tonnes at a grade of 5.3 for some
13,550 ounces of gold which has been discounted from the
resource.
The Company has prepared an Advanced Exploration Closure Plan to
dewater and rehabilitate the Jonpol decline. However at this time
the economics of such an undertaking appear risky and the Company
has chosen to focus its efforts on moving its Garrcon open pit
forward, as noted above. The Jonpol remains strategically important
to the Company as its mineralization remains open along strike
(East - West) as well as at depth. Metallurgical testing done in
2013 (see press release of September 26, 2013) indicates that the
only refractory ore is in the immediate area of the Shaft Zone. The
recently acquired Lac Properties property to the west provides an
opportunity to add significantly to this updated Jonpol resource.
In addition the existing decline may provide exceptional access for
not only the Jonpol vein deposit, but the Garrcon underground, the
903 Zone (to the south of the Jonpol shaft), and mineralized
metasediments that are just now being explored between these two
areas (see Hastings channel sample press release dated February 10,
2014).
To provide further information and continuity between the
previous resource estimates prepared on the Garrison property and
this updated resource, the following tables provide more detailed
information:
|
Comparison of 2014 Garrcon/Jonpol Resource Estimates to 2012
Garrcon and 2009 Jonpol Resource Estimates |
|
|
|
2012 Garrcon and 2009 Jonpol Resource |
|
2014 Garrcon Open Pit and Underground (Pit Shell:
$1,250 per Oz Au, 55° Slope) and 2014 Jonpol Underground
Resource |
Change |
Domain |
|
Category |
Cut Off |
|
Tonnes |
|
Au Grade (g/t) |
Ounces Au |
|
Cut Off |
|
Tonnes |
Au Grade (g/t) |
Ounces Au |
Tonnes |
|
Au Grade (g/t) |
Ounces Au |
Garrcon |
|
Measured |
0.3 |
|
17,640,000 |
|
1.06 |
604,000 |
|
0.4 |
|
15,100,000 |
1.07 |
521,000 |
- 2,540,000 |
|
0.01 |
- 83,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Garrcon |
|
Indicated |
0.3 |
|
20,830,000 |
|
1.00 |
668,000 |
|
0.4 |
|
14,100,000 |
1.16 |
526,000 |
- 6,730,000 |
|
0.16 |
- 142,000 |
Jonpol |
|
Indicated |
-- |
|
253,100 |
|
7.77 |
63,200 |
|
3.0 |
|
872,000 |
5.34 |
150,000 |
618,900 |
|
-2.43 |
86,800 |
Garrcon and Jonpol |
|
Total Ind |
0.3/-- |
|
21,083,000 |
|
1.08 |
731,000 |
|
3.0/0.4 |
|
14,972,000 |
1.40 |
676,000 |
-6,111,000 |
|
0.32 |
-55,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Garrcon |
|
Mea+Ind |
|
|
38,470,000 |
|
1.03 |
1,272,000 |
|
0.4 |
|
29,200,000 |
1.12 |
1,047,000 |
- 9,270,000 |
|
0.09 |
- 225,000 |
Garrcon and Jonpol |
|
Mea+Ind |
0.3/-- |
|
38,723,000 |
|
1.07 |
1,335,000 |
|
3.0/0.4 |
|
30,072,000 |
1.24 |
1,197,000 |
-8,651,000 |
|
0.17 |
-138,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Garrcon |
|
Inferred |
0.3 |
|
15,780,000 |
|
0.72 |
367,000 |
|
0.4/1.5 |
|
6,800,000 |
2.80 |
616,000 |
- 8,980,000 |
|
2.08 |
249,000 |
Jonpol |
|
Inferred |
-- |
|
1,555,800 |
|
4.93 |
246,540 |
|
3.0 |
|
1,073,000 |
5.56 |
192,000 |
-482,800 |
|
0.63 |
-54,540 |
Garrcon and Jonpol |
|
Total Inf |
0.3/-- |
|
17,336,000 |
|
1.09 |
614,000 |
|
3.0/1.5/0.4 |
|
7,873,000 |
3.19 |
808,000 |
-9,463,000 |
|
2.10 |
194,000 |
|
Summary of Changes in Garrcon Mineral Resource Estimate
Parameters and Methodology |
2012 Mineral Resource Estimate (Hannon, Roy and Trinder, 2012) |
|
2014 Mineral Resource Estimate |
Resource drill hole database included: • 54 historic drill holes
(1985 to 2007) • 167 Northern Gold drill holes and 15 drill hole
extensions (2009 - 2011 - up to GAR-11-180) |
|
Resource drillhole database includes: • 54 historic drill holes
(1985 to 2007) • 256 Northern Gold drill holes and 18 drill hole
extensions (2009 - 2012 - up to GAR-12-270) |
Resource assay database utilized averaged duplicate and replicate
assays |
|
Resource assay database utilizes primary assays except where
historic assays are duplicated by Northern Gold assays in which
case the latter are used. |
Gold price of $US 1500 per troy oz |
|
Gold price of $US 1250 per troy oz (the lower of 3 year trailing
average and spot price) |
No top-cut grade was used |
|
Top-cuts of 112 g/tonne Au (high grade domains) and 114 g/tonne Au
(low grade domains) applied to individual (non-composited)
assays |
Cut-off grade for mineralised zone interpretation was 0.1
g/tonne |
|
No change |
Omni-directional spherical search used to estimate block
grades |
|
Domain specific directional ellipsoidal searches used to estimate
block grades. The majority approximate 2:2:1 (x:z:y) |
Ordinary block kriging ("OBK") used for estimating block
grades |
|
No change |
A specific gravity (bulk density) value of 2.79 was applied to all
blocks - a representative value based on 1,174 measurements |
|
A specific gravity (bulk density) value of 2.80 applied to all
blocks - a representative value based on 4,076 measurements |
Resource Reporting • Resource blocks shallower than 200 meters and
deeper than 200 m were reported separately. • Block cut-off grade
for defining Mineral Resources at all depths was 0.3 g/tonne •
Waste to Resource ratio within the 2011 Mineral Resource and PEA
optimised pit (45 degree pit wall) approximately 2:1 (incorporates
a 0.15 heap leach cut-off) Note that this is not the 2012 resource
- no optimised pit in 2012 report |
|
Resource Reporting • Block cut-off grade for potential open pitable
Mineral Resources is 0.4 g/tonne. Optimised pit based on $1250/oz
gold, 55 degree pit wall slope and 2011 PEA pit mining parameters.
• Block cut-off grade for potential underground (>200 m depth
outside pit shell) Mineral Resources is 1.5 g/tonne. • Waste to
Resource ratio within the 2014 optimised pit approximately
1.8:1 |
Resource Classification • Measured mineral resources were defined
where three holes were used to estimate block grades and the
average distance to samples was 25 metres or less. • Indicated
mineral resources were defined where three holes were used to
estimate block grades and the average distance to samples was 40
metres or less (based on variography). |
|
Resource Classification • Measured resources were defined where the
average sample distance was less than, or equal to, approximately
35 metres. At least twelve samples from three holes (minimum two
samples from each hole) were required for this category. •
Indicated resources were identified where the average sample
distance was approximately 70 metres or less. At least eight
samples from two holes (minimum two from each hole) were required
for this category. • Inferred resources were defined within two
metres of at least two samples from one hole. |
|
Summary of Changes in Jonpol Mineral Resource Estimate
Parameters and Methodology |
2009 Mineral Resource Estimate (George, 2009) |
|
2014 Mineral Resource Estimate |
Resource drill hole database included: • 283 historic drill holes
(1985 to 2007) • 0 Northern Gold drill holes |
|
Resource drillhole database includes: • 283 historic drill holes
(1985 to 2007) • 66 Northern Gold drill holes and 9 drill hole
extensions (2011 - 2013) |
Resource assay database utilized averaged duplicate and replicate
assays |
|
Resource assay database utilizes primary assays except where
historic assays are duplicated by Northern Gold assays in which
case the latter are used. |
n/a |
|
Gold price of $US 1250 per troy oz (the lower of 3 year trailing
average and spot price) |
No top-cut grade was used |
|
Top cut of 100 g/tonne Au applied to non-composited assays in the
East Zone. No top-cut applied in other zones. |
Cut-off grade for mineralised zone interpretation was approximately
0.5 g/tonne of gold |
|
Cut-off grade for mineralised zone interpretation is 3 g/tonne of
gold over a minimum width of 1.5 metres |
2D polygonal longitudinal section resource estimation |
|
3D wireframe constrained block model grade interpolation has been
undertaken using Ordinary Kriging (OK). Domain specific directional
ellipsoidal searches used to estimate block grades. |
A specific gravity (bulk density) value of 2.8 was applied to
polygons. |
|
No change |
Resource Reporting • No cut-off grade applied to underground
polygonal resources • Historic bulk sample tonnages and contained
gold were not discounted from the JP Zone estimate |
|
Resource Reporting • Block cut-off grade for potential underground
Mineral Resources is 3 g/tonne. • Historic bulk sample tonnages and
contained gold are discounted from the JP Zone estimate |
Resource Classification • Indicated mineral resources were defined
by a 15 metre radius of influence around a drill hole pierce-point
or half the distance to the adjacent drill hole pierce-point
whichever the lesser. • Inferred mineral resources were defined by
a 25 metre radius of influence around a drill hole pierce-point or
half the distance to the adjacent drill hole pierce-point whichever
the lesser. |
|
Resource Classification • Zones extend up to 50 metres down-dip
from the last intercept. Along strike, zones extended halfway to
the next cross-section. • Indicated mineral resources are defined
where the mineralized zones exhibit good continuity between drill
holes on section and along strike and are informed by 3 or more
holes spaced less than 50 metres apart. • Inferred resources are
defined where continuity of zones less well defined |
The Garrison property mineral resource update information
presented in this release has been reviewed and approved by Mr. Ian
Trinder, M.Sc, P.Geo., and Mr. Leon McGarry, B.Sc., P.Geo., of
A.C.A. Howe International Ltd. of Toronto, Ontario. Mr. McGarry and
Mr. Trinder are Independent Qualified Persons as defined under NI
43-101 regulations.
The technical aspects of this press release have been reviewed
and approved by Michael Gross M.S. P. Geo., Northern Gold Mining,
Inc. consultant, who is the "Qualified Person" as defined by NI
43-101 for this project.
About Northern Gold
Northern Gold is a TSXV-listed gold company based in Toronto,
Ontario. The Company's main focus is the exploration and
development of its prospective mineral properties at the Golden
Bear Project in the Larder Lake Mining Division, northeastern
Ontario. Northern Gold has a portfolio of advanced exploration
projects, including the Jonpol and Garrcon Deposits and the
Buffonta Property. Recent transactions, including the amalgamation
with Victory Gold Mines Inc. and acquisition of the Lac Minerals
Property add to the Company's regional consolidation strategy along
the Destor-Porcupine Fault Zone.
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved of the information contained herein. This news release
contains forward-looking information which is not comprised of
historical facts. Forward-looking statements are characterized by
words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, Northern Gold's strategic partnership and issuances
of securities, and is based on, among other things, the opinions
and assumptions of management considered reasonable as of the date
of this news release. Factors that could cause actual results to
differ materially from such forward-looking information include,
but are not limited to, delays in obtaining or failures to obtain
required regulatory approvals, changes in equity markets,
fluctuations in commodity prices, and other risks involved in the
mineral exploration and development industry, including those risks
set out in Northern Gold's public documents filed on SEDAR.
Although Northern Gold believes that the assumptions and factors
used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Northern Gold disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
Northern Gold Mining Inc.Martin ShefskyInterim President &
Chief Executive Officer647.297.8793mshefsky@northerngold.caNorthern
Gold Mining Inc.Eric SzustakManager, Business
Development905.330.7948eszustak@northerngold.cawww.northerngold.ca
Northern Gold Mining Inc. (TSXV:NGM)
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