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Leagold Mining Corp.
Summary
| Project: | Los Filos | |
|---|---|---|
| Deposit: | Los Filos | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 11/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-11-2018: Leagold Mining Corp. announces a Resource Estimation report for its Los Filos deposit at the Los Filos project. Updated ore reserve estimate at the project. Vancouver, November 14, 2018 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Lea | |
| Resources: | (Reserve, P+P): 40500Kt @ 0.60g/t Au for 780Koz Au contained at Los Filos OP | |
| CP/QP: | [Overall Report]: Rodolfo Balderrama Neder (Internal) | |
| ABSTRACT: | Vancouver, November 14, 2018 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Leagold” or the “Company”) is pleased to announce an increase of the Proven and Probable mineral reserves (P&P reserves) at the Los Filos open pit to 40.5 million tonnes grading 0.60 g/t containing 780 thousand ounces (koz) of gold as of October 31, 2018 (see Table 1). This represents a 122% increase over the December 31, 2017 estimate of 351 koz. After accounting for mining depletion of 99 koz from January 1 to October 31, 2018, the total addition to the Los Filos open pit P&P reserves is 528 koz. This reserve update does not reflect changes to the Bermejal open pit or Los Filos underground mining areas, or potential additions from the Bermejal underground deposit. Leagold CEO Neil Woodyer commented: “As we are nearing the completion of our site-wide studies on options for Los Filos mine expansion, the integration and scheduling of the mining and processing of the four sources of ore is a complex task to optimize. We now have the good problem of re-scheduling to include this significant increase in gold reserves at the Los Filos open pit which will contribute to the production schedule until 2027. This is just one component of the expanded Los Filos mine, and it provides an indication of the expansion potential. We are also completing studies to update the mineral reserves for Los Filos underground and Bermejal open pit, establish an initial mineral reserve for Bermejal underground, and evaluate the increased benefits of constructing a carbon-in-leach plant to improve recovery rates.” | |
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