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Highland Gold Mining Ltd.
Summary
| Project: | Mnogovershinnoye | |
|---|---|---|
| Deposit: | Mnogovershinnoye | |
| Location: | Russia | |
| Commodities: | Gold | |
| Date: | 1/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 14-1-2019: Highland Gold Mining Ltd. announces a Resource Estimation report for its Mnogovershinnoye deposit at the Mnogovershinnoye project. Updated mineral resource and ore reserve estimate at the project. Highland Gold Mining Limited ("Highland Gold" o | |
| Resources: | (Reserve, Prob.): 9.015Mt @ 2.7g/t Au for 771koz Au contained at project | |
| CP/QP: | [Resources]: Andrew Sevryugin (Internal) | |
| ABSTRACT: | Highland Gold Mining Limited ("Highland Gold" or the "Company", AIM: HGM) is pleased to announce the results of an updated audit of Mineral Resources and Ore Reserves at the Mnogovershinnoye (MNV) mine, conducted by Micon International Co Limited in compliance with the JORC code (2012). The audit takes into account data from near-mine exploration conducted at MNV in 2017, as well as updated mining parameters. The new Ore Reserve estimate supports the extension of MNV's life of mine to the year 2029 versus the previous forecast of 2022. Furthermore, a significant increase in Mineral Resources creates the potential to add substantially more reserves in the future. Gold contained in Ore Reserves (Proven and Probable) as of January 1, 2018 increased to 771,569 oz from the estimate of 452,866 oz published last year. The reserve grade was lowered from 5.5 g/t to 2.7 g/t, reflecting lower cut-off grades and an increase in ore volume from 2.7 million tonnes to 9.1 million tonnes. The new reserve grade is in line with the average grade mined at MNV in recent years. | |
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