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Golden Valley Mines Ltd.
Summary
| Project: | Island 27 | |
|---|---|---|
| Deposit: | Island 27 | |
| Location: | Canada | |
| Commodities: | Cobalt-Nickel-Silver | |
| Date: | 3/1/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-3-2019: Golden Valley Mines Ltd. announces an Exploration/Drilling Update report for its Island 27 deposit at the Island 27 project. Drilling results incl. 1.7m @ 6.33% Co, 0.607% Ni, 22g/t Ag from 112.30m. During 2018, a total of 66,396 metres was dril | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Glenn Mullan (Internal) | |
| ABSTRACT: | During 2018, a total of 66,396 metres was drilled at East Malartic and 54,825 metres at the Odyssey Project. The updated resource estimate for East Malartic includes Indicated mineral resources of 722,000 ounces of gold (10.5 million tonnes grading 2.13 g/t gold) and Inferred mineral resources of 2,806,000 ounces of gold (44.0 million tonnes grading 1.98 g/t). The updated resource estimate for the Odyssey Project includes Indicated mineral resources of 136,000 ounces of gold (2.0 million tonnes grading 2.11 g/t) and Inferred mineral resources of 1,618,000 ounces of gold (23.0 million tonnes grading 2.19 g/t). Agnico Eagle stated that it expects the size of the resource to grow further. For the portion of the East Malartic and Odyssey resources covered by Abitibi Royalties’ 3% NSR as of December 31, 2017, please see Abitibi Royalties’ news release dated March 19th, 2018. Abitibi Royalties anticipates receiving an updated resource estimate for areas covered by its 3% NSR at East Malartic and Odyssey in late Q1 or early Q2-2019 based on updated resource estimates above. Update on Barnat Extension Project Abitibi Royalties has been advised that work on the Barnat Extension project is proceeding on budget and on schedule. Work is primarily focused on the highway 117 road deviation, overburden stripping and tailings expansion. The highway deviation is expected to be completed in late 2019. Abitibi Royalties announced on January 16th, 2019 that production had commenced at the end of Q4-2018 in the area covered by the Abitibi Royalties’ 3% NSR. Abitibi Royalties expects to receive from the mine owners, and subsequently release, an updated 3-year production schedule for its royalties at the Jeffrey and Barnat Extension areas in late Q1 or early Q2-2019. | |
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