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Georgian Mining Corp.
Summary
| Project: | Bolnisi | |
|---|---|---|
| Deposit: | Kvemo Bolnisi | |
| Location: | Georgia | |
| Commodities: | Copper-Gold | |
| Date: | 1/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-1-2017: Georgian Mining Corp. announces a Resource Estimation report for its Kvemo Bolnisi deposit at the Bolnisi project. Initial copper and gold mineral resource estimates for Kvemo Bolnisi. Georgian Mining Corporation ('GMC') is pleased to announce | |
| Resources: | (Resource, I + I): 947000t @ 0.94% Cu, 0.15g/t Au | |
| CP/QP: | [Resources]: Adam Wheeler, Mark Owen (Independent) | |
| ABSTRACT: | Georgian Mining Corporation ('GMC') is pleased to announce initial JORC-compliant Mineral Resource estimates for both the copper-gold sulphide and gold oxide deposits at the Kvemo Bolnisi East ('KB') Project based upon initial drill results from the current drill programme. Further drill results and Mineral Resource estimate updates will be released to the market over the coming weeks. GMC Managing Director Greg Kuenzel said, "We are successfully implementing our strategy to develop mineral resources at KB suitable for processing at the neighbouring Madneuli plants to generate positive and sustainable cash flow. This cash flow will allow us to fund future exploration and development to uncover the full mineral potential of KB and our entire Bolnisi JV property while minimising shareholder dilution. We look forward to providing further updates as our exploration and resource development programme progresses over the coming months." Two separate mineral resources have been generated to date; a copper-gold sulphide mineral resource and a gold oxide mineral resource; refer to Table 1 below. The resource estimation work has been undertaken by an independent external Mineral Resource estimation specialist and the process has been overseen by a second independent Page 2 of 6 geological consultant. Further information concerning the in-situ Mineral Resource estimate and pit optimisation summary are set out in the tables included in the full report. | |
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