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Mandalay Resources Corp.
Summary
| Project: | Cerro Bayo | |
|---|---|---|
| Deposit: | Cerro Bayo | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| Date: | 2/20/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-2-2018: Mandalay Resources Corp. announces a Resource Estimation report for its Cerro Bayo deposit at the Cerro Bayo project. Year-end 2017 mineral resources and ore reserves update for project. TORONTO, ON, February 20, 2018 -- Mandalay Resources Corp | |
| Resources: | (Reserve, P+P): 856kt @ 284g/t Ag, 2.34g/t Au at project | |
| CP/QP: | [Resources]: Rosmery Julia Cardenas Barzola (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | TORONTO, ON, February 20, 2018 -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) today announced its year-end 2017 Mineral Resources and Reserves estimations. In the Proven and Probable Reserves category (Table 1), contained gold (“Au”) was approximately the same as the year prior, contained silver (“Ag”) decreased by 12% and contained antimony (“Sb”) decreased by 1%. In the Measured and Indicated Resource category (Table 2), contained gold increased by approximately 6%, contained silver decreased by 3%, and contained antimony increased by 13%. All dollar amounts in this press release are in U.S. dollars unless otherwise noted. Details of the Mineral Resources and Reserves estimates at each property are related below. They were prepared or verified by the following independent third parties: Roscoe Postle Associates Inc. (“RPA”) at Björkdal, and SRK Consulting (Australasia) Pty Ltd. (“SRK”) at Costerfield. Mineral Resources and Reserves were estimated at Cerro Bayo by depleting the year-end 2016 estimates (verified by RPA and released on February 23, 2017) to account for production through the operating suspension on June 9, 2017. The estimate of Mineral Resources at the Challacollo project has not changed from 2014. The year-end 2017 estimates of Mineral Resources and Reserves for the Björkdal and Costerfield mines will be fully documented in independent Technical Reports to be filed on www.sedar.com and the Mandalay website www.mandalayresources.com within 45 days of this press release. | |
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