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Orex Exploration Inc.
Summary
| Project: | Goldboro | |
|---|---|---|
| Deposit: | Goldboro | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-3-2017: Orex Exploration Inc. announces a Resource Estimation report for its Goldboro deposit at the Goldboro project. Updated mineral resource estimate for project. Orex Exploration Inc. (Orex) retained Mercator Geological Services Limited (Mercator) i | |
| Resources: | (Resource, M+I): 2.556Mt @ 5.57g/t Au for 457400oz Au contained at project | |
| CP/QP: | [Resources]: Michael Cullen (Mercator Geological Services Ltd.) | |
| ABSTRACT: | Orex Exploration Inc. (Orex) retained Mercator Geological Services Limited (Mercator) in March of 2012 to prepare an independent mineral resource estimate in accordance with National Instrument 43-101 (NI 43-101) for the company’s Goldboro gold deposit, located in eastern Nova Scotia, Canada. Results of the mineral resource estimate were presented in a technical report that was publicly disclosed by Orex in April of 2013. The current report supports an update to the 2013 Mercator resource estimate and addresses a revision to the assay compositing protocol applied in 2013 to non-continuously sampled intervals of drill core that occur within the project drilling database. This revision produced a 1.63% decrease in rounded measured and indicated category contained gold ounces (7,600 ounces) relative to the equivalent figure for the 2013 estimate and a decrease of 11.45% in rounded inferred category contained gold ounces (48,200 ounces) relative to the equivalent 2013 figure. The majority of lost gold ounces assign to the East Goldbrook deposit area. The reductions in the mineral resource estimate contained gold inventories between the 2017 and 2013 resource estimates have been deemed non-material by the board of directors of Orex. The current resource estimate by Mercator represents an update to the 2013 Mercator resource estimate reported by Cullen and Yule (2013) and specifically address a revision to the assay compositing protocol applied in 2013 to certain non-continuously sampled intervals of drill core that occur within the project drilling database. This revision ensured that non-continuously sampled intervals falling within calculated assay composite intervals were proportionately weighted with zero grade dilution intervals where required. | |
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