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Pershing Gold Corp.
Summary
| Project: | Relief Canyon | |
|---|---|---|
| Deposit: | Relief Canyon | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 5/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 30-5-2018: Pershing Gold Corp. announces a Feasibility Study report for its Relief Canyon deposit at the Relief Canyon project. Feasibiltiy study results incl. post-tax NPV (5%) of US $133.2M , IRR of 86.5% and 5.6yr LOM. Mine Development Associates (“MDA | |
| Resources: | (Reserve, P+P): 30.238Mt @ 0.021oz/t Au for 631.3koz Au contained at project | |
| CP/QP: | [Overall Report]: Paul Tietz, Neil Prenn, Carl Defilippi, Mark Jorgensen (Not stated) | |
| ABSTRACT: | Mine Development Associates (“MDA”) has prepared this Technical Report and Feasibility Study on the Relief Canyon project, located in Pershing County, Nevada, at the request of Pershing Gold Corporation (“Pershing Gold”). The Relief Canyon project is owned by Gold Acquisition Corp. (“GAC”), a wholly owned subsidiary of Pershing Gold. The purpose of this Technical Report is to present a Feasibility Study (“FS”) and updated estimate of mineral reserves for the Relief Canyon project. Pershing Gold is listed in Canada on the Toronto Stock Exchange and on the NASDAQ Global Market with stock symbol PGLC. MDA has prepared this report and the estimates provided herein in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as well as with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards - For Mineral Resources and Reserves, Definitions and Guidelines” (“CIM Standards”) adopted by the CIM Council on May 10, 2014. The effective date of the mineral resource estimate in this report is November 1, 2016. The effective date of this report and the new, updated reserve estimate is May 24, 2018. There are minor differences between the Reserves tables and the Feasibility production schedule, due to rounding in the mine scheduling program. Note that some of the tables in this report may not appear to add properly, however, this is due to rounding, and the totals in the tables are correct. | |
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