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New Carolin Gold Corp.
Summary
| Project: | Ladner | |
|---|---|---|
| Deposit: | Carolin Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-10-2018: New Carolin Gold Corp. announces a Resource Estimation report for its Carolin Mine deposit at the Ladner project. Clarified previous announcements exploration target for Carolin Mine. October 19, 2018 - New Carolin Gold Corp. (the “Company” or | |
| Resources: | ||
| CP/QP: | [Overall Report]: Trevor Rabb (Independent) | |
| ABSTRACT: | October 19, 2018 - New Carolin Gold Corp. (the “Company” or “New Carolin”) (TSXV: LAD | OTCBB: LADFF): New Carolin announces that, although potential quantities and grades reported October 17, 2018 for its four near-mine targets at the Company’s 100% owned Ladner Gold Project were correct, the calculation of potential contained gold was in error and should be disregarded. The four targets are referred to as the Hozameen Zone, Aurum, Aurum Connector and Aurum Deep Targets (see Figure 1). The Hozameen Zone is characterized by a northwest-plunging, antiformal contact between strongly altered andesite volcanic rocks and the mine sequence metasedimentary rocks. Elevated gold grades encountered in hole 18NC10 include 5.00 m of 3.23 g/t (89.00 – 94.00 m) and 9.00 m of 5.04 g/t (63.00 – 72.00 m) and occur within andesite characterized by strong albite-ankerite alteration and wallrock sulphidation proximal to quartz veins. Historical drilling encountered similar or better grades (Table 1). The conceptual size of the tabular-shaped Hozameen Zone has been defined by recent and historical drill hole data and is exclusive of the 2012 resource estimate. A wireframe solid representing Hozameen Zone mineralization was generated based on cross section and plan interpretation. Using an average specific gravity of 2.78, and volume defined by the mineralized solid, the conceptual tonnage of the Hozameen Zone ranges from approximately 356,00 to 600,000 tonnes with gold grades within the solid range from 2.30 g/t Au, represented by drill hole assay results from a total of 337 samples contained within the mineralised domain, to 3.70 g/t Au, represented by ten composite drill hole intervals within the domain. The Hozameen zone remains open down plunge to the northwest and is a priority for the next drilling campaign. The potential quantity and grade for the Hozameen zone is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. | |
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