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Teranga Gold Corp.
Summary
| Project: | Golden Hill | |
|---|---|---|
| Deposit: | Golden Hill | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/21/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-2-2019: Teranga Gold Corp. announces a Resource Estimation report for its Golden Hill deposit at the Golden Hill project. Initial mineral resource estimate for project. Toronto, Ontario – February 21, 2019 – Teranga Gold Corporation ("Teranga" or the " | |
| Resources: | (Resource): 6.399Mt @ 2.02g/t Au (Ind.) and 11.947Mt @ 1.68g/t Au (Inf.) | |
| CP/QP: | [Resources]: Patti Nakai-Lajoie (Internal) | |
| ABSTRACT: | Toronto, Ontario – February 21, 2019 – Teranga Gold Corporation ("Teranga" or the "Company") (TSX: TGZ, OTCQX:TGCDF) is pleased to announce an initial mineral resource estimate for its Golden Hill advanced exploration project, located within the central part of the highly mineralized Houndé Greenstone Belt in southwest Burkina Faso, West Africa. Teranga owns 100% of Golden Hill. This initial mineral resource estimate was prepared by Teranga in accordance with CIM Standards and disclosed in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Please see Table 1 in Appendix 1 for the Golden Hill mineral resource estimation summary table. This initial resource estimation includes the following prospects: Ma Main, Ma North, Jackhammer Hill, Peksou/C-Zone, Nahiri, A-Zone and B-Zone (Figure 1 in Appendix 2). “It is still very early in our exploration program. However, after only 18 months of drilling, Golden Hill has advanced rapidly and we are increasingly confident that Golden Hill will ultimately represent Teranga’s third gold mine,” said Richard Young, President and Chief Executive Officer. “With an early-stage initial resource estimate in hand, the focus now is on advancing the metallurgical test work required to produce the initial technical and economic assessments. The completion of these assessments is a prerequisite to drawing down on the debt facility in place to take Golden Hill into the feasibility stage of development.” "Our initial resource estimate provides a solid base from which to grow Golden Hill and reaffirms our interpretations that most of the prospects offer substantial upside,” said Paul Chawrun, Chief Operating Officer. “We are pleased with the grades, strong continuity and widespread mineralization at Golden Hill. Given the encouraging results of this early-stage initial resource estimate, our confidence in – and understanding of – the project geology, recent discoveries and the proven mineral potential of the region, our priority is to increase the number of resource ounces and advance the project through a PEA and into the feasibility stage of development.” | |
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