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GoldMining Inc.
Summary
| Project: | Crucero | |
|---|---|---|
| Deposit: | Crucero | |
| Location: | Peru | |
| Commodities: | Gold | |
| Date: | 1/16/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2018: GoldMining Inc. announces a Resource Estimation report for its Crucero deposit at the Crucero project. Mineral Resource update for Crucero. The Crucero Property ("Property") is located in Carabaya Province, in southeastern Peru, at approxim | |
| Resources: | (Resource): 30.653Mt @ 1g/t Au (Ind.) and 35.779Mt @ 1g/t Au (Inf.) at project | |
| CP/QP: | [Resources]: Greg Z. Mosher (Global Mineral Resource Services Ltd.) | |
| ABSTRACT: | The Crucero Property ("Property") is located in Carabaya Province, in southeastern Peru, at approximately 14° 11’ south latitude and 69° 50’west longitude. The Property contains orogenic gold mineralization that is associated with pyrite and pyrrhotite as well as with minor arsenopyrite and stibnite and is contained within altered metasedimentary rocks belonging to the Ananea Formation of Lower Paleozoic age. Exploration programs from 1996 to 2012 by previous operators included geological mapping, soil and rock geochemistry, trenching, surface geophysical surveys, diamond drilling (79 holes over 24,773 m) and metallurgical testwork. Drilling was concentrated on one of the geophysical anomalies referred to as the A1 Zone where a total of 72 core holes over 22,712 m were completed. To date, the A1 Zone area has been explored by magnetic and induced polarization geophysical surveys, 2,700 linear meters of trenching and 72 drill holes. The trenching produced 657 gold assays and the drill programs produced 15,842 assays, which form the basis of the resource estimate that is the subject of this report. Resources have been estimated for the A1 Zone and are summarized in Table 1.1. The estimate was carried out using ordinary kriging ("OK") and resources are stated at a base case grade threshold of 0.4 g/t gold. The resource has been constrained by a conceptual pit based on assumed mining costs of US$1.60 / tonne, processing costs of US$16.00 / tonne and a gold price of US$1,500 / ounce. The tonnes and grades in Table 1.1 have been rounded relative to the tabulation presented in Table 14.4 in Section 14 of this report. | |
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