The resource estimate, completed by
Global Mineral Resource Estimate Highlights: 1.2 Million Ounces grading 2.32 g/t Au in Indicated and 231,000 Ounces grading 3.24 g/t Au in Inferred categories.
Open Pit Mineral Resource Estimate: 1.0 Million Ounces grading 2.14 g/t Au in Indicated category. 43% Increase in total Indicated Ounces and 110% Increase in total Inferred Ounces compared to the
The new resource estimate contemplates open-pit mineral extraction and identifies in-pit resources at a cut-off grade of 0.4 g/t Au and out-of-pit resources considered accessible by underground mining methods at a cut-off grade of 2.0 g/t Au. A gold price assumption of
The Hope Brook Gold Deposit comprises an area of historic mining where an open pit and underground mine, accessible by a decline ramp, was developed and operated from 1987 to 1997.
About
Hope Brook is located 85 kilometers east of Port aux Basques,
Significant exploration potential remains on the 26,000-hectare concession providing a great opportunity to expand the mine area as well as surface showings throughout the concessions.
About
Contact:
Tel: 416-540-5480
Email: Mike@bigridgegold.com
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This news release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as 'expects', 'anticipates', 'believes', 'plans', 'projects', 'intends', 'estimates', 'envisages', 'potential', 'possible', 'strategy', 'goals', 'objectives', or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events, and include, without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares. All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.
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