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Alio Gold Inc.
Summary
| Project: | Florida Canyon Mine | |
|---|---|---|
| Deposit: | Florida Canyon Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 10/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2018: Alio Gold Inc. announces a Resource Estimation report for its Florida Canyon Mine deposit at the Florida Canyon Mine project. Updated mineral resource estimate at the project. VANCOUVER, British Columbia, Oct. 18, 2018 -- Alio Gold Inc (TSX, N | |
| Resources: | (Resource, M+I): 132.875Mt @ 0.40g/t Au for 1.711Moz Au contained | |
| CP/QP: | [Overall Report]: William Howald (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Oct. 18, 2018 -- Alio Gold Inc (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), or the “Company”), today announced an updated Mineral Resource Estimate for its Florida Canyon Mine in Nevada, USA prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. A Technical Report will be filed on SEDAR at www.sedar.com and on the Company’s website at www.aliogold.com on or before November 29, 2018 and will supersede the previous Mineral Resource Estimate contained in a Preliminary Economic Assessment dated June 22, 2016 (the “PEA”). The updated Mineral Resource was estimated as of July 31, 2018 and includes all drilling information and mining activity to this date. The estimate was compiled by SRK Consulting (U.S.), Inc and is constrained using a $1,350/oz gold price pit shell. Measured & Indicated Mineral Resource Estimate: • 132.9 million tonnes at 0.40 g/t gold • 1.7 million ounces contained gold, an increase of 52% compared with the PEA “The updated mineral resource estimate for Florida Canyon formalizes the view that we held on acquisition of the mine earlier this year and is an important first step in completing our life-of-mine plan,” said Greg McCunn, Chief Executive Officer. “We are on track to deliver the plan by the end of this year and anticipate the report will further highlight the value of Florida Canyon. The life-of-mine plan and corresponding Mineral Reserve Estimate will be based on oxide resources at Florida Canyon only. It is expected that recommendations will be made in the technical report with respect to further work required to bring the adjacent Standard Mine into production as well as to further investigate the known sulphide deposit beneath the oxide resource. | |
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