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Spanish Mountain Gold Ltd.
Summary
| Project: | Spanish Mountain | |
|---|---|---|
| Deposit: | Spanish Mountain | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 1/10/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-1-2019: Spanish Mountain Gold Ltd. announces an Exploration/Drilling Update report for its Spanish Mountain deposit at the Spanish Mountain project. Drilling results incl. 25.91m @ 1.06g/t Au from 51.82m. Vancouver, BC ‐ Spanish Mountain Gold Ltd. (t | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Judy Stoeterau (Internal) | |
| ABSTRACT: | Vancouver, BC ‐ Spanish Mountain Gold Ltd. (the “Company”) (TSX‐V:SPA) is pleased to announce the remaining assay results from its strategic 2018 drilling program for the Spanish Mountain Gold Project (the "Project") located in British Columbia, Canada. The program’s first set of assay results were reported in a news release dated December 4, 2018. As stated previously, the highly selective program targeted areas within the high‐grade, near‐surface First Zone of the Project’s multi‐million ounce gold resource. The objective is to increase the total number of gold ounces captured in a future mine plan by reclassifying certain Inferred Resources to the Measured & Indicated categories. By design, the 2017 Preliminary Economic Assessment only incorporated M&I resources in the mine plan and thereby treated the extracted Inferred Resources as “waste”, which had the effect of artificially inflating the Project’s strip ratio and operating cost. If the current drilling program is successful in upgrading the targeted ounces in a future resource estimate, it is expected to further improve the Project’s robust economics as it effectively converts mined “waste” into mill feed and production ounces. | |
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