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19thAugust, 2021 –TheNewswire -
The updated technical report is the first deliverable from
The following table summarizes the findings to be included in the Mineral Resource Technical Report. The mineral resources are split between high grade and low grade to accommodate separate processing of the high grade and low grade plant feed through different circuits.
------------------------------------------------------------------------------------------------ |Resource | |High | |Low | |Total Mineral Resource | | | |Grade | |Grade (COG | | | | | |(COG | |= | | | | | |= | |0.323 | | | | | |0.60 | |g/mt) | | | | | |g/mt) | | | | | |----------------------------------------------------------------------------------------------| |Category | | |Grade | | | |Grade | | |Grade | |----------------------------------------------------------------------------------------------| | | |Tonnes |(g/mt)|Tr Oz Au| |Tonnes |(g/mt)|Tr Oz Au| |Tonnes |(g/mt) |Tr | | | | | | | | | | | | | |Oz | | | | | | | | | | | | | |Au | |----------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | |----------------------------------------------------------------------------------------------| |Measured | |1,050,000|1.717 |58,000 | |591,000 |0.447 |8,500 | |1,641,000 |1.260 |66,500 | |----------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | |----------------------------------------------------------------------------------------------| |Indicated| |8,058,000|1.477 |382,600 | |5,421,000|0.448 |78,100 | |13,479,000|1.063 |460,700| |----------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | |----------------------------------------------------------------------------------------------| |Total | |9,108,000|1.505 |440,600 | |6,012,000|0.448 |86,600 | |15,120,000|1.084 |527,200| |M&I | | | | | | | | | | | | | |----------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | |----------------------------------------------------------------------------------------------| |Inferred | |4,666,000|1.583 |237,500 | |2,667,000|0.449 |38,500 | |7,333,000 |1.171 |276,000| ------------------------------------------------------------------------------------------------
* Based on parameters setforth below.
--------------------------------------------------------------------------------- |Otso Gold Mineral Resource Estimation Parameters | |-------------------------------------------------------------------------------| |Parameter | |Units | |Value | |-------------------------------------------------------------------------------| |Open Pit Waste Mining Cost | |US$/Waste Tonne| |$1.90 | |-------------------------------------------------------------------------------| |Open Pit Ore Mining Cost | |US$/Ore Tonne | |$2.73 | |-------------------------------------------------------------------------------| |Underground Mining Cost | |US$/Ore Tonne | |$75.00 | |-------------------------------------------------------------------------------| |Mill - High Grade Processing Cost| |US$/Mill | |$11.78 | | | |Ore Tonne | | | |-------------------------------------------------------------------------------| |Mill - Low Grade Processing Cost | |US$/Mill | |$10.22 | | | |Ore Tonne | | | |-------------------------------------------------------------------------------| |G&A Cost | |US$/Feed Tonne | |$2.20 | |-------------------------------------------------------------------------------| |Mill Gold Recovery (at cutoff) | |% | |92.0% | |-------------------------------------------------------------------------------| |Mill - Low Grade Gold | |% | |80.0% | |Recovery (at cutoff) | | | | | |-------------------------------------------------------------------------------| |Mill Annual Capacity | |Tonnes | |1,500,000| |(Both High&Low Grade) | | | | | |-------------------------------------------------------------------------------| |Gold Price | |US$/Troy Ounce | |$1,600.00| |-------------------------------------------------------------------------------| |Selling Cost | |US$/Troy Ounce | |$2.55 | |-------------------------------------------------------------------------------| |Royalty | |% | |0.15% | ---------------------------------------------------------------------------------
Notes to the Mineral Resource Resource Estimate:
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |(1) The effective date for this mineral resource estimate isAugust 5, 2021 and is reported on a 100% ownership basis. This estimate is an update using additional assays and exploration drilling as well as updated economics. | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| |(2) Mineral Resources are calculated at a gold price ofUS$1,600 per troy ounce. | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| |(3) The mineral resources presented above are global and do not include a detailed pit, only an economic pit shell was used to determine the in-pit mineral resources. | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| |(4) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| |(5) The mineral resources presented here were estimated using a block model with a block size of 9 m by 9 m by 9 m sub-blocked to a minimum block size of 3 m by 3 m by 3 m using ID3methods for grade estimation. All | |mineral resources are reported using an open pit gold cut-off of 0.323 g/t Au. Open pit mineral resources above 0.600 g/t are considered high grade material while material between 0.323 g/t and 0.600 g/t are considered low | |grade.. | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| |(6) The mineral resources presented here were estimated using theCanadian Institute of Mining , Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by theCIM Standing Committee on Reserve Definitions and adopted byCIM Council May 10, 2014 .| |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| |(7) Figures are rounded and totals may not add correctly. | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Processing of high grade material will be processed through the existing plant with some flow sheet modifications intended to improve overall recovery. High grade processing is expected to commence in
The Company is working closely with
President and CEO
Otso Gold Corp.
For further information, please contact:
Vice President
1 917 287-0716
info@otsogold.com
www.otsogold.com
The technical disclosure in this news release has been reviewed and approved by
Caution
The Company cautions that it has not defined or delineated any proven or probable reserves for the
The Company also cautions that the decision by the Company to proceed to develop the
About the Company
and is progressing towards a restart at 2 million tonnes per annum throughput.
Neither the
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