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Metminco Ltd.
Summary
| Project: | Miraflores | |
|---|---|---|
| Deposit: | Miraflores | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 11/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-11-2017: Metminco Ltd. announces a Resource Estimation report for its Miraflores deposit at the Miraflores project. Update Ore reserve for the Miraflores project. Metminco Limited (ASX: MNC, AIM: MNC) (“Metminco” or the “Company”) is pleased to announc | |
| Resources: | (Reserve, P+P): 4.32Mt @ 3.29g/t Au, 2.77g/t Ag for 457Koz Au and 385Koz Ag contained at Miraflores | |
| CP/QP: | [Overall Report]: Boris Caro (Independent) | |
| ABSTRACT: | Metminco Limited (ASX: MNC, AIM: MNC) (“Metminco” or the “Company”) is pleased to announce a maiden NI 43-101 and JORC 2012-compliant Ore Reserve for its 100%- owned Miraflores Gold Project in Colombia. This announcement replaces that made on 18 October 2017. The Company notes that the total contained tonnes, grade and metal content remain unchanged from the announcement of 18 October 2017, however the previously advised “Planned dilution” has been incorporated into the Proved and Probable categories of the Ore Reserve estimate as required by the JORC Code (2012). The Ore Reserve has been estimated using a gold price assumption of US$1,200/oz and a cut-off grade of 1.53g/t Au. It is contained entirely within the Miraflores Deposit constrained Mineral Resource Estimate and is based entirely on the Measured and Indicated Resources. The estimate represents a conversion rate of approximately 50% of Measured and Indicated Resources and has been based on information derived from the Miraflores Feasibility Study (FS) released on October 18th, 2017 with a further update on October 30, 2017. The Company’s Ore Reserve estimate for the Miraflores Gold Project has been independently reviewed and signed off by Mr Boris Caro who is a Member of the Australasian Institute of Mining and Metallurgy and a Registered Member of the Chilean Mining Commission. Mr Caro is an independent consultant contracted by Ausenco to review and sign off the Ore Reserve estimate. | |
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