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Mandalay Resources Corp.
Summary
| Project: | Bjorkdal | |
|---|---|---|
| Deposit: | Bjorkdal | |
| Location: | Sweden | |
| Commodities: | Gold | |
| Date: | 2/22/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-2-2019: Mandalay Resources Corp. announces a Resource Estimation report for its Bjorkdal deposit at the Bjorkdal project. Updated mineral resources and ore reserves at project. TORONTO, ON, February 21, 2019 -- Mandalay Resources Corporation ("Mandalay | |
| Resources: | (Reserve, Prob.): 11.384Mt @ 1.58g/t Au for 580Koz Au contained | |
| CP/QP: | [Resources]: Reno Pressacco, Jack Lunnon (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | TORONTO, ON, February 21, 2019 -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce an updated Mineral Resources and Reserves estimate for its Björkdal gold mine in Sweden as at December 31, 2018. The Company approximately replaced depletion for production at the Björkdal mine in 2018 while Measured and Indicated Mineral Resources for contained gold increased slightly. The Company maintains a 10-year mine life at Björkdal. Details of the Mineral Resources and Reserves estimate at Björkdal are included in the notes below each table. The estimate was prepared by Roscoe Postle Associates Inc. (“RPA”). The yearend 2018 estimate of Mineral Resources and Reserves for Björkdal will be fully documented in a technical report prepared in accordance with National Instrument 43-101 (“NI 43-101”) to be filed on www.sedar.com and the Mandalay website www.mandalayresources.com within 45 days of this press release. All dollar amounts in this press release are in U.S. dollars unless otherwise noted. Dominic Duffy, President and CEO of Mandalay, commented, “We are pleased to have replaced depletion at Björkdal and maintained the operation’s 10-year mine life. In 2018, the focus of Mandalay’s exploration strategy at Björkdal shifted from adding ounces and extending mine life to discovering higher-grade ore sources that would improve mine economics. This shift in exploration focus yielded very exciting results, as late last year the Company announced the discovery of the Aurora zone which has shown to be a significantly wider structure containing higher average grades than current production, with extensions up and down dip which are currently unconstrained (see Mandalay’s November 14, 2018 press release).” | |
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