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New Nadina Explorations Ltd.
Summary
| Project: | Silver Queen | |
|---|---|---|
| Deposit: | Silver Queen #3 Vein | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 7/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-7-2019: New Nadina Explorations Ltd. announces a Resource Estimation report for its Silver Queen #3 Vein deposit at the Silver Queen project. Initial mineral resource estimate for project. News Release: Greenwood, British Columbia – July 15, 2019 New N | |
| Resources: | (Resource): 815Kt @ 9.31g/t AuEq. (Ind.) and 801Koz @ 7.51g/t AuEq. (Inf.) | |
| CP/QP: | [Resources]: Eugene Puritch, Yungang Wu (P&E Mining Consultants Inc.) | |
| ABSTRACT: | News Release: Greenwood, British Columbia – July 15, 2019 New Nadina Explorations Limited is pleased to announce the completion of its initial NI 43-101 Mineral Resource Estimate for the Silver Queen #3 Vein located in north central British Columbia 36 kilometres south of Houston. The property is located 30 kilometres southwest of the former producing Equity Silver Mine. John Jewitt, Director, President and Chief Executive Officer of New Nadina Explorations Limited commented: “We are extremely pleased and encouraged by this initial Mineral Resource Estimate. A follow up summer 2019 drill program and late Q4 2019 Preliminary Economic Assessment are planned. The #3 Vein continuity from hole to hole as well as the grades encountered to date are very significant in terms of establishing a potentially extractable Mineral Resource.” The following tables summarize the sensitivity to the Mineral Resource Estimate in the Indicated and Inferred Mineral Resource classifications at various NSR cut-off values. For the purpose of this press release, New Nadina is reporting the #3 Vein underground Mineral Resource at the C$100/tonne NSR cut-off value. The mineralized #3 Vein and three smaller associated veins confirmed through Mineral Resource modelling, strike northwest to southeast and dip to the northeast at approximately 60 degrees. The average width of the veins is 0.9 to 1.2 metres with local increases up to about 4.6 metres. In general, the veins occupy northwest striking fractures that cut the volcanics, the microdiorite and the felsite porphyry and the basalt dikes. Widespread alteration on the property is present. The alteration is manifested in the development of numerous limonite and jarosite gossans and appears to be the result of pervasive kaolinization-pyritization. It is thought that the alteration is greater than would normally be if associated with the emplacement of known vein systems. A deep and broad source of mineralizing solutions is suspected and a replacement-type sulphide body is also suspected. | |
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