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Metminco Ltd.
Summary
| Project: | Miraflores | |
|---|---|---|
| Deposit: | Miraflores | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 7/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 21-7-2016: Metminco Ltd. announces a Resource Estimation report for its Miraflores deposit at the Miraflores project. Updated mineral resource estimate, now JORC 2012 compliant. Metminco Limited (“Metminco” or the “Company”) (ASX: MNC; AIM: MNC) announces | |
| Resources: | (Resource, M+I): 9.19Mt @ 2.81g/t Au, 20.76g/t Ag at Miraflores | |
| CP/QP: | [Resources]: Scott Wilson (Metal Mining Consultants) | |
| ABSTRACT: | Metminco Limited (“Metminco” or the “Company”) (ASX: MNC; AIM: MNC) announces that it has received a mineral resource estimate for the Miraflores gold deposit in Colombia that has been prepared by Metal Mining Consultants (“MMC”) based in Denver, USA, in accordance with the guidelines of the JORC Code (2012 Edition). This mineral resource estimate replaces the previous NI 43-101 statement completed by MMC that was released to the market on 7 March 2016. MMC previously estimated a NI 43-101 Measured and Indicated Mineral Resource of 72.6Mt at a gold and silver grade of 0.78g/t and 1.52g/t respectively, using a cut-off grade of 0.27g/t gold. The mineral resource estimate was based on 25,884 metres of drilling in 73 diamond drill holes and 236 metres of underground channel samples. The mineral resource estimate provided for both an open pit and an underground mining operation. More recently, Metminco requested that MMC produce a mineral resource estimate in accordance with the guidelines of the JORC Code (2012 Edition), but for an underground mining operation only, and hence a higher cut-off grade of 1.2g/t gold was applied. The Measured and Indicated Mineral Resources estimated by MMC contain 832,000 oz Au and 817,000 oz Ag at the 1.2g/t gold cut-off. SRK are currently completing a revised mine plan and schedule for the underground mining option which will be available shortly. Minera Seafield SAS (“Minera Seafield”) is now a wholly owned subsidiary of Metminco and has been renamed Miraflores Compania Minera SAS. | |
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