The table below outlines the gold resource estimates for the Sterling Gold Project. The resource estimates are based on pit constrained surface resources. The surface resource includes mineralized gold blocks limited to within a 45-degree constant slope pit shell.
Resources defined as "non-pit constrained" represent mineralized tonnages of potential economic interest if selective underground mining of mineralized zone below the projected pit shell limits was carried out, similar to those employed previously at the Sterling Gold Mine.
|Sterling Gold Property Inferred Resource Statement, Effective March 29, 2017|
|Sterling Pit Constrained||Sterling||1.0||1,958,000||3.67||231,000|
|Sterling Non-Pit Constrained||Sterling||1.7||350,000||3.38||38,000|
- CIM definitions are followed for classification of Mineral Resource.
- Mineral Resource surface pit extent has been estimated using a gold price of US$1,200 per ounce and a US$2.10 per ton mining cost with gold recovery ranging from 80 - 88% depending upon rock type.
- Sterling pit constrained and non-pit constrained resource calculated based on CN soluble assays.
- Sterling non-pit constrained resources below the surface pit and targeted for underground mining are based on a gold price of US$1,200 per ounce and mining costs of $US45 per ton. Other modifying factors remain unchanged.
- Gold recovery estimated to range from 80 - 88% depending upon rock type.
- The Mineral Resource estimate has been prepared by Derek Loveday, P. Geo. of Norwest Corporation in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance with the Canadian Securities Administrators NI43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability.