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Klondex Mines Ltd.
Summary
| Project: | True North | |
|---|---|---|
| Deposit: | True North | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 27-10-2016: Klondex Mines Ltd. announces a Resource Estimation report for its True North deposit at the True North project. Updated mineral resources and ore reserves at project. Klondex Canada Ltd. (“Klondex” or “the Company”), is a subsidiary of Klondex | |
| Resources: | (Reserve, P+P): 1.522Mt @ 2.39g/t Au for 117900oz Au contained | |
| CP/QP: | [Resources]: Fred Brown (Independent) | |
| ABSTRACT: | Klondex Canada Ltd. (“Klondex” or “the Company”), is a subsidiary of Klondex Mines Ltd., which is a Canadian and U.S. listed mining company. Klondex Mines Ltd. also owns and operates additional high grade underground gold mines in north central Nevada. In January 2016, Klondex acquired the Rice Lake Mine through its purchase from 7097914 Manitoba Ltd. (formerly Shoreline Gold Inc.). Rice Lake Mine was previously owned by San Gold Corporation (San Gold). In May 2016, Klondex renamed the Rice Lake Gold Mine to True North Gold Mine. The mine and processing plant are located approximately 190 miles (250 km) northeast of the city of Winnipeg on the edge of the Bissett township in Manitoba, Canada. Klondex has engaged the services of Canadian based geology and mining engineering consultants P&E Mining Consultants Inc. (P&E) to complete a National Instrument (NI) 43-101 Technical Report and Pre-Feasibility Study (Technical Report) for the True North Gold Mine (“True North” or “Project”). The purpose of this Technical Report is to provide an independent Mineral Resource and Mineral Reserve estimate of the gold mineralization in conformance with the standards required by NI 43-101 and Form 43-101F1. P&E has produced an NI 43-101 compliant Mineral Resource estimate for True North based primarily on information from exploration and definition drilling, underground chip sampling, and supplemented in part by geophysical data, historical underground and surface mapping which assisted with interpretations. P&E developed block models constrained within 3D wireframe models of the principal geological domains. Values for bulk density and gold (Au) ounces per ton (opt) were interpolated into the grade model blocks using Inverse Distance Squared (ID2 ) weighting. | |
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