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Austral Gold Ltd.
Summary
| Project: | Amancaya | |
|---|---|---|
| Deposit: | Amancaya | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| Date: | 6/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-6-2017: Austral Gold Ltd. announces a Resource Estimation report for its Amancaya deposit at the Amancaya project. Mineral resources estimate and Initial Reserve estimate for project. Austral Gold Limited (“Austral” or the “Company”) (ASX: AGD; TSX-V: A | |
| Resources: | (Reserve, Prob.): 0.948Mt @ 6.77g/t Au, 63.2g/t Ag at Amanacaya | |
| CP/QP: | [Resources]: Chester Moore (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Austral Gold Limited (“Austral” or the “Company”) (ASX: AGD; TSX-V: AGLD) is pleased to announce that Roscoe Postle Associates Inc. (“RPA”) has completed a new independent resource and reserve estimate in accordance with the CIM Definitions 2014 in National Instrument (“NI”) 43-101 and Joint Ore Reserves Committee Code, 2012 (JORC12) for the Company’s 100% owned Amancaya project and Guanaco Mine, Chile. The Amancaya reserve estimate is the first in that project’s existence. “We are very pleased with this maiden reserve and resource estimate at Amancaya. It confirms the high grade nature of the Amancaya project and our expectation that Amancaya will play a significant part in our growth plans,” stated Stabro Kasaneva, CEO of Austral Gold. “The Amancaya project is a unique asset; high grade gold and silver vein outcropping at surface that is fully permitted, pre-stripping has commenced and ore is being stock piled, pending the imminent commissioning of the new processing plant. The complete pre-feasibility study that evaluates the combined production from the Amancaya project with the operating Guanaco mine, including its new processing plant, is expected shortly. We are expecting that this study will reveal a financially robust combined operation located in a very attractive jurisdiction.” RPA undertook the study based on company infill drilling and exploration activities completed in 2016 and previous work done on the project by other companies. | |
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