ENP Newswire -
Release date- 25072014 -
Both samples were taken from diamond drill core from holes drilled within the 421,000 troy ounces gold inferred resource (8.9 million tonnes at a grade of 1.47 grams gold per tonne) at Grant's Hill (refer to
Further evidence for significant coarse gold comes from a suite of spot rock chip surface samples recently collected at Beatons Creek that was analyzed by screen metallic fire assay. These samples come from a recently identified extension of the Grant's Hill gold-bearing conglomerates discovered east of the inferred resource mentioned above as well as from various sites across the Beatons Creek project where the Company is considering collecting bulk samples.
Gold grades from this suite of heavily oxidized gold-bearing conglomerate range from 3.08 to 66.83 grams per tonne (gpt). The coarse gold contribution (+150 micron) in these samples is particularly notable, ranging from 6 to 84%, and 18 of 29 samples display coarse gold contributions in excess of 50%.
These results, although preliminary, suggest that significant metallurgical recovery of gold may be possible using simple, cost-effective gravity techniques and
Recent geological mapping and structural analysis suggests that significant extensions of gold-bearing conglomerates may lie at depths of less than 20 meters, the approximate depth of oxidation at many locations across the Beatons Creek project. Therefore, potential exists for defining significant resources of oxidized gold-bearing conglomerates that could be amenable to gravity-only processing.
Based on extensive mapping and surface sampling,
a focus on defining and/or upgrading significant oxide resources within the project area. It should be noted that about 16% of the current inferred resource referenced above is considered oxide mineralization.
Due to the heterogeneous nature of the gold-bearing conglomerates, it is anticipated that drilling and bulk sampling will both be required to provide data to support such a resource. Data for resource modeling will be collected by year-end. Effort will be made to collect sufficiently high quality data to establish indicated and/or measured mineral resources with the aim of converting these to reserves through feasibility level economic study.
testing gravity recoverable gold.
initiating flora and faunal environmental studies needed to submit a mine plan and necessary permits. This work is expected to begin within a few weeks and is expected to take 9-12 months to complete.
undertaking and completing a feasibility level economic study during 2015. It is anticipated a mine plan can be developed concurrent with such economic study.
'We see a clear path to move Beatons Creek forward,' commented Dr.
Tel: (416) 543-3120
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement that significant metallurgical recovery of gold may be possible using simple, cost-effective gravity techniques; that significant extensions of gold-bearing conglomerates may lie at depths of less than 20 meters and therefore, potential exists for defining significant resources of oxidized gold-bearing conglomerates that could be amenable to gravity-only processing; that
These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the ability to undertake and complete the planned exploration activities, the receipt of successful results as exploration proceeds, customary risks of the mineral resource exploration industry, as well as
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