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Georgian Mining Corp.
Summary
| Project: | Bolnisi | |
|---|---|---|
| Deposit: | Kvemo Bolnisi | |
| Location: | Georgia | |
| Commodities: | Copper-Gold | |
| Date: | 2/13/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-2-2017: Georgian Mining Corp. announces an Exploration/Drilling Update report for its Kvemo Bolnisi deposit at the Bolnisi project. Drilling results incl. 113.70m @ 1.70% Cu from 18.4m. Georgian Mining Corporation ('GEO') is pleased to report significa | |
| Resources: | (Resource, I + I): 947000t @ 0.93% Cu, 0.15g/t Au | |
| CP/QP: | [Overall Report]: James Royall (Not stated) | |
| ABSTRACT: | Georgian Mining Corporation ('GEO') is pleased to report significant and near surface intercepts from the first three drill holes of a three phased resource development drilling programme at the 50% owned Kvemo Bolnisi Project ('KB') in Georgia. The assay results were not included in the recently published resource of 947,000 tonnes at an average grade of 0.93% copper ('Cu') and 0.15 g/t gold ('Au') (see announcement of 30 January 2017). Therefore, when integrated, these results are expected to result in a material increase in the existing Mineral Resource. GEO Managing Director Greg Kuenzel said, "These excellent results from our first three drill holes suggest we are on course to define a mineable open pit resource at KB in the short term. Our three phase drill programme aims to outline a 3-5Mt resource to meet guidance from our JV partner on initial deliveries of copper-gold and gold oxide mineralisation to the nearby processing plants. More assay results should be available shortly from our 10,000m three phase drill programme. On further success, we will expand the programme to drill test additional targets identified by our earlier exploration programme and we remain on track to significantly expand and upgrade our inferred resource." | |
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