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Austral Gold Ltd.
Summary
| Project: | Casposo | |
|---|---|---|
| Deposit: | Casposo | |
| Location: | Argentina | |
| Commodities: | Gold-Silver | |
| Date: | 9/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-9-2016: Austral Gold Ltd. announces a Resource Estimation report for its Casposo deposit at the Casposo project. Updated resources and reserves and LOM plan. Roscoe Postle Associates Inc. (RPA) was retained by Austral Gold Limited (Austral) to prepare | |
| Resources: | (Reserve, P+P): 972000t @ 231g/t Ag, 2.53g/t Au (5.38g/t AuEq.) at project | |
| CP/QP: | [Resources]: Chester M. Moore (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Roscoe Postle Associates Inc. (RPA) was retained by Austral Gold Limited (Austral) to prepare an independent Technical Report on the Casposo Gold-Silver Mine (Casposo or the Mine), located in the department of Calingasta, San Juan Province, Argentina. The purpose of this report is to disclose the Mineral Resource and Mineral Reserve estimates and the Life of Mine (LOM) plan based on Austral’s plans for improving and re-starting the existing Casposo Mine. This Technical Report conforms to National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). RPA visited the property from May 10 to 12, 2016. On March 7, 2016, Austral acquired a 51% interest in Troy Resources Limited’s (Troy) Casposo gold and silver mine, located approximately 150 km west of the city of San Juan, Argentina. Pursuant to the Implementation Deed between Austral and Troy, Austral will be entitled to acquire a further 19% interest in the Mine within the first year from the agreement date and the remaining 30% within the next five years. Austral will be Manager of the operation. Casposo is an underground operation with processing of ore in an agitated leach/Merrill Crowe plant. A Feasibility Study was prepared by AMEC Americas Limited for the previous owner, Intrepid Mines Limited (Intrepid), in 2007 and updated for Troy in 2008. Operations at Casposo commenced in 2010 with open pit mining, followed by underground production in 2013. As the mine was deepening, gold production declined and silver production increased, with record silver production of 3.1 million ounces (Moz) in 2015. In 2015, Troy produced 43,130 ounces of gold and 1.98 Moz of silver | |
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