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Newmarket Gold Inc.
Summary
| Project: | Cosmo Mine | |
|---|---|---|
| Deposit: | Cosmo Mine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-8-2016: Newmarket Gold Inc. announces an Exploration/Drilling Update report for its Cosmo Mine deposit at the Cosmo Mine project. Drilling results incl. 21.45m @ 6.23g/t Au from 152.55m at Taipan. Vancouver, B.C. – August 22, 2016 – Newmarket Gold Inc. | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark Edwards (Internal) | |
| ABSTRACT: | Vancouver, B.C. – August 22, 2016 – Newmarket Gold Inc. (“Newmarket” or the “Company”)(TSX: NMI) (OTCQX:NMKTF) is pleased to announce positive results from 13,834 metres (m) of diamond drilling, comprising 45 drill holes at the Cosmo Gold Mine (“Cosmo”) located in the Northern Territory, Australia. These results are part of Newmarket’s 2016 growth exploration program and include significant drill intercepts for the Sliver Lode and the newly discovered Redbelly and Taipan Lodes, all of which are adjacent to existing underground mine development. The results for the Sliver Lode strongly support the potential to extend Mineral Resources down-plunge from existing Mineral Reserves. Currently, three underground drill rigs are in operation at Cosmo to advance exploration programs. A total of US$2.8 million has been spent on growth programs at the Cosmo Gold Mine, including 13,834m of diamond drilling in 45 drill holes targeting mineralization outside of Cosmo December 31, 2015 Indicated Mineral Resources. Recent exploration drilling was undertaken from the newly completed 640 Western Drill Drive, located at the lowest level in the mine, where 200m of development was completed in April 2016. Currently there are three diamond rigs in operation from this drill drive targeting the Sliver, Redbelly, Taipan and Western Lodes (Figure 1). | |
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