Highlights
- Measured and Indicated Mineral Resources of 1,209,290 ounces of gold (94% oxide)
- Inferred Mineral Resources of 257,900 ounces of gold (91% oxide)
- Studies necessary to de-risk the project and advance the permitting are in progress
Updated Mineral Resource Estimate
The updated MRE was based on a total of 1,331 drill holes measuring 885,380 feet and incorporates drill targets under evaluation since the
There remains excellent exploration potential within the district and drilling has indicated that mineralized structures and features continue both laterally and vertically along the known mineralized trends. Specific areas for additional exploration drilling and interpretation include
Table 1: Combined Global Resources - Oxide and Sulphide | ||||||
Classification | Tonnes (Mt) | Au grade (g/t) | Ag grade (g/t) | Au Contained (koz) | Ag Contained (koz) | |
Measured | 30.13 | 0.544 | 1.35 | 526.68 | 1,309.13 | |
Indicated | 40.88 | 0.519 | 1.18 | 682.61 | 1,557.49 | |
Measured and Indicated | 71.01 | 0.530 | 1.26 | 1,209.29 | 2,866.62 | |
Inferred | 16.69 | 0.481 | 0.96 | 257.90 | 515.72 |
Notes: | |
1. | Oxide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of |
2. | Sulphide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of |
3. | Mining costs for mineralized material and waste are |
4. | Processing, general and administration, and refining costs are |
5. | Due to rounding, some columns or rows may not compute as shown. |
6. | Estimated Mineral Resources are stated as in situ dry metric tonnes. |
7. | The estimate of Mineral Resources may be materially affected by legal, title, taxation, socio-political, marketing, or other relevant issues. |
Table 2: Mineral Resources - Bullfrog | ||||||
Redox | Classification | Tonnes (Mt) | Au grade (g/t) | Ag grade (g/t) | Au Contained (koz) | Ag Contained (koz) |
Oxide | Measured | 24.50 | 0.537 | 1.28 | 422.77 | 1,010.02 |
Indicated | 36.32 | 0.515 | 1.14 | 602.02 | 1,332.18 | |
Measured and Indicated | 60.82 | 0.524 | 1.20 | 1,024.79 | 2,342.20 | |
Inferred | 14.40 | 0.460 | 0.77 | 213.06 | 358.49 | |
Sulphide | Measured | 1.30 | 0.710 | 1.28 | 29.77 | 53.52 |
Indicated | 1.99 | 0.625 | 1.32 | 39.94 | 84.47 | |
Measured and Indicated | 3.29 | 0.659 | 1.30 | 69.72 | 137.99 | |
Inferred | 1.05 | 0.657 | 1.14 | 22.14 | 38.53 | |
Total - Oxide and Sulphide | Measured | 25.80 | 0.545 | 1.28 | 452.55 | 1,063.54 |
Indicated | 38.31 | 0.521 | 1.15 | 641.96 | 1,416.65 | |
Measured and Indicated | 64.12 | 0.531 | 1.20 | 1,094.51 | 2,480.19 | |
Inferred | 15.44 | 0.474 | 0.80 | 235.20 | 397.02 |
Notes: Refer to Table 1 Notes |
Table 3: Mineral Resources - Montgomery-Shoshone | ||||||
Redox | Classification | Tonnes (Mt) | Au grade (g/t) | Ag grade (g/t) | Au Contained (koz) | Ag Contained (koz) |
Oxide | Measured | 1.97 | 0.637 | 3.35 | 40.35 | 212.12 |
Indicated | 1.35 | 0.555 | 2.85 | 24.04 | 123.66 | |
Measured and Indicated | 3.32 | 0.603 | 3.15 | 64.38 | 335.78 | |
Inferred | 1.05 | 0.586 | 3.45 | 19.76 | 116.41 | |
Sulphide | Measured | NA | ||||
Indicated | NA | |||||
Measured and Indicated | NA | |||||
Inferred | NA |
Notes: Refer to Table 1 Notes |
Table 4: Mineral Resources - Bonanza | ||||||
Redox | Classification | Tonnes (Mt) | Au grade (g/t) | Ag grade (g/t) | Au Contained (koz) | Ag Contained (koz) |
Oxide | Measured | 2.35 | 0.446 | 0.44 | 33.78 | 33.48 |
Indicated | 1.22 | 0.422 | 0.44 | 16.61 | 17.17 | |
Measured and Indicated | 3.58 | 0.438 | 0.44 | 50.40 | 50.65 | |
Inferred | 0.19 | 0.473 | 0.37 | 2.94 | 2.28 | |
Sulphide | Measured | NA | ||||
Indicated | NA | |||||
Measured and Indicated | NA | |||||
Inferred | NA |
Notes: Refer to Table 1 Notes |
Metallurgical, Environmental and Permitting Studies
Data collection for geotechnical, metallurgical and hydrological characterization for accelerated permitting activities are in progress.
Drill core samples from the Montgomery Shoshone and Bullfrog deposits are in progress at McClelland labs in
Baseline studies necessary to advance permitting are in progress. Refinement of the hydrologic model is expected to commence in Q2 2022. Augusta Gold expects to have all baseline surveys completed in Q12023 with an expected Mine Plan of Operations to follow shortly thereafter.
Bullfrog Location
The Bullfrog project is located in the prolific
QA/QC
To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks and certified reference standards at statistically derived intervals within each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.
Sample preparation (crushing and pulverizing) has been performed at Paragon Geochemistry ("Paragon"), an independent ISO/IEC accredited lab located in
In addition, the Company validated the historic gold and silver values by comparing the historic analytical certificates to the digital assay database. All available downhole surveys were digitized and utilized to properly plot analytical data down-hole. Drill holes with questionable data were omitted from the database and were not used to generate the mineral resource estimate. The results of the validation program indicate that the sample database is of sufficient accuracy and precision to be used for the generation of mineral resource estimates.
Qualified Person
The scientific and technical information contained in this news release and the sampling, analytical and test data underlying the scientific and technical information has been reviewed and approved by
About Augusta Gold
Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the
Forward Looking Statements
Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this new release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including exploration plans, that Augusta Gold is focussed on de-risking the project through environmental and engineering studies that will form the foundation for our permit applications; testing on the samples will include: standard crushing work index determinations, a complete suite of column percolation leach tests, agglomerate strength/ stability tests and load permeability tests; that results for the metallurgical test program are expected to be completed in H2/2022; that baseline studies necessary to advance are in progress; that refinement of the hydrologic model is expected to commence in Q2 2022; that Augusta Gold expects to have all baseline surveys completed in Q1 2023 with an expected Mine Plan of Operations to follow shortly thereafter. When used in this news release words such as "to be", "will", "planned", "expected", "potential", and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators and the
View original content to download multimedia:https://www.prnewswire.com/news-releases/augusta-gold-announces-significant-resource-update-at-bullfrog-of-1-2-m-oz-measured-and-indicated-and-0-26-m-oz-inferred-resource-301499859.html
SOURCE
© Canada Newswire, source