McCoy-Cove is one of four projects currently being advanced and is expected to be a key component in the Company's plans to restart the Lone Tree autoclave. Construction of the decline is now underway (see Figure 1) and the Phase 1 program will include construction of an initial level with multiple drill bays to provide access for upgrading resources. Approximately 40,000 metres of underground definition and expansion drilling is anticipated to commence in H2-2022 followed by a Feasibility Study anticipated to be completed in 2023. The Cove deposit represents one of
Table 1 – McCoy-Cove Resource
Mineral Resources | |||||
Tonnage | Gold | Silver | |||
(kt) | (g/t) | (g/t) | (koz) | (koz) | |
Indicated | 1,007 | 10.9 | 29.1 | 351 | 943 |
Inferred | 3,867 | 10.9 | 20.6 | 1,353 | 2,565 |
Notes: Mineral Resources were calculated at a gold price of |
The Company is also pleased to announce that
"McCoy-Cove is one of three underground mining projects being advanced, ultimately with mineralization to be processed at the Company's recently acquired
The McCoy-Cove Property is strategically located approximately eighty-four kilometres south (by road) of the
Qualified Person
Tim George, PE, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
About
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the expansion or mineral resources at McCoy-Cove and the potential of the McCoy-Cove Property, . Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release. |
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. |
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