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Superior Gold Inc.
Summary
| Project: | Plutonic | |
|---|---|---|
| Deposit: | Plutonic | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/3/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-4-2018: Superior Gold Inc. announces a Resource Estimation report for its Plutonic deposit at the Plutonic project. Updated mineral resource and ore reserve estimate at project. Toronto, April 3, 2018 – Superior Gold Inc. (“Superior Gold” or the “Compan | |
| Resources: | (Reserve, P+P): 3.16Mt @ 3.47g/t Au for 382Koz Au | |
| CP/QP: | [Resources]: Matt Keenan (Entech Pty Ltd.) | |
| ABSTRACT: | Toronto, April 3, 2018 – Superior Gold Inc. (“Superior Gold” or the “Company”) (TSX.V:SGI) is pleased to announce the updated Mineral Reserve and Mineral Resource estimates as at December 31, 2017 for its Plutonic Gold Operations in Western Australia, which are comprised of the 100%-owned Plutonic underground gold mine, and 100%-owned Hermes open pit gold mine, along with the Company’s interest in the Bryah Basin joint venture. Comparisons are made to the prior Mineral Reserve and Mineral Resource estimates as described in a previously filed NI43-101 report dated September 30, 2016. Chris Bradbrook, President and CEO of Superior Gold stated: “We are extremely pleased to be able to provide this updated Mineral Reserve and Mineral Resource estimate, which we believe delivers on all the targets we have communicated to investors, the most important of which was to grow the underground Reserve and to demonstrate a longer term future for the Plutonic gold mine. This announcement is a good first step and we plan to provide a further Mineral Reserve and Mineral Resource update during 2018.” Mineral Reserves as at December 31, 2017 were estimated using a long term gold price of A$1,650 per ounce (US$1,287 per ounce). Mineral Resources as at December 31, 2017 were estimated using a long term gold price of A$1,700 per ounce (US$1,325 per ounce). Dilution of 10% was factored into the estimation of underground Mineral Reserves. Cut off grades for the Mineral Reserve and Mineral Resource estimates were 2.00 g Au/t for underground and 0.60 g Au/t for open pit. | |
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