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Leagold Mining Corp.
Summary
| Project: | Riacho Dos Machados | |
|---|---|---|
| Deposit: | Riacho Dos Machados | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 11/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-11-2018: Leagold Mining Corp. announces a Resource Estimation report for its Riacho Dos Machados deposit at the Riacho Dos Machados project. Updated mineral resource and ore reserve at the project. Roscoe Postle Associates Inc. (RPA) was retained by Le | |
| Resources: | (Reserve, P+P): 24.726Mt @ 0.99g/t Au for 789Koz Au contained | |
| CP/QP: | [Resources]: Mark Mathisen (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Roscoe Postle Associates Inc. (RPA) was retained by Leagold Mining Corporation (Leagold) to prepare an Independent Technical Report on the Riacho dos Machados gold mine (the Mine), located in the northern part of the Minas Gerais State, Brazil. The purpose of this Technical Report is to support the disclosure of updated Mineral Resources and Mineral Reserves at the Mine. This Technical Report conforms to National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). RPA has visited the Mine several times, most recently on June 25 and 26, 2018. Leagold is a publicly listed Canadian mining company with significant gold producing, development, and exploration stage properties in Brazil and Mexico. Leagold’s portfolio includes three operating mines in Brazil: the Fazenda Brasileiro mine, the Pilar mine, and Riacho dos Machados mine, as well as the Santa Luz Project, which is a fully permitted mine that is currently on care and maintenance. These mines were acquired when Leagold acquired Brio Gold Inc. (Brio) on May 24, 2018. Leagold also owns the Los Filos mine, which is an operating mine in Mexico. Gold production in 2017 totalled approximately 178,000 ounces (oz) of gold from the Brazil operations and approximately 191,000 oz from the Los Filos mine. The Mine is operated by Mineração Riacho dos Machados (MRDM), a wholly-owned Brazilian domiciled subsidiary of Leagold. The Mine is a conventional open pit and carbon-in-leach (CIL) operation, which is scheduled to process up to 7,000 tonnes per day (tpd) and recover over 700,000 oz of gold over a mine life of eight years and two additional years of stockpile processing, for a total mine life of ten years. Potential underground production could extend the mine life. | |
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