For thousands of other reports visit RSC's Mineral Intellingence Map
Minnova Corp.
Summary
| Project: | Maverick | |
|---|---|---|
| Deposit: | PL Deposit | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-9-2018: Minnova Corp. announces an Exploration/Drilling Update report for its PL Deposit deposit at the Maverick project. Old drillholes, new assay results incl. 2.0m @ 15.61g/t Au from 111.0m. September 27, 2018, Toronto, Ontario – Minnova Corp. (TSXV | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Buchanan (Internal) | |
| ABSTRACT: | September 27, 2018, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, "Minnova” or the “Company”), an advanced-stage exploration and gold development company is pleased to announce a significant increase in reported gold grades in drill core from check assaying with Metallic Screen Fire Assay (“MSFA”) as compared to Original Fire Assay (“OFA”) at our 100% owned PL Gold Mine in central Manitoba. Highlighted Metallic Screen Fire Assay Check Sample Results vs Original Fire Assay Results; 17.46 g/t OFA increases to 30.2 g/t MSFA - 73% Increase 16.19 g/t OFA increases to 25.7 g/t MSFA - 58% Increase 8.62 g/t OFA increases to 16.1 g/t MSFA - 86% Increase 3.51 g/t OFA increases to 8.61 g/t MSFA - 145% Increase The PL Gold Deposit is a high-grade gold deposit with average a reported reserve grade of 7.0 g/t and is known to host significant visible gold. Visible gold or free gold, often called nuggety gold, is a common characteristic of narrow vein mesozonal gold deposits. The distribution of high-grade vs. low-grade gold domains within the mineralized zones is critically important in mine planning to separate ore from waste. Following the completion of the positive Feasibility Study (“FS”) our technical team continued to review our technical data with a view to identifying opportunities to optimize the FS mine plan, reserve model and geological model. Analysing nuggety gold or the nugget effect can be a challenge. It was determined that larger sample size and a metallic screen fire assay technique could provide a better analytical and statistical gold grade estimate of our mineralized zones. Metallic screen fire assay technique is commonly used to determine coarse and fine gold in samples and utilises a larger volume of the sample. During the summer of 2018 a detailed review of the assay data base was completed and over 100 individual samples from across the PL Deposit were flagged where original fire assay results were inconsistent with either visible gold or significant mineralization was noted in drill logs. Initial check assaying using metallic screen fire assay of previously fire assayed mineralized intervals have returned positive results highlighting the potential to significantly increase gold grades by an average of 25%, based on 10 MSFA check samples. Gorden Glenn, CEO commented “Results from our initial check sampling program highlight the significant potential to increase the gold grade of the deposit. We will now expand our check sampling program to include another 90 to 100 samples that could positively affect the current reserve and resource grade estimates. In addition, we will start planning for a bulk sample program of near surface mineralisation within the Sherridon zone structure and additional drilling to further demonstrate the resource growth potential at the PL Deposit.”. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report