White Metal Announces New Mineral Resource Estimate globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
MetalNRG plc (LON:MNRG), the natural resource investing and exploration company, provides further details relating to the planned acquisition of Lake Victoria Gold Ltd ( LVG ) (announced 20
th October 2020).
1 compliant Total Resource of 4.73Mt @ 1.92g/t gold
2 based on Resource drilling completed in 2016 and a Mineral Resource Estimate in 2017, for a total of 291,600 oz resources. In addition, an open-pit mining Pre-Feasibility Study ( PFS ) and underground mining Scoping Study was completed by Measured Group Pty Ltd ( MG ) for the Imwelo Project in June 2017 (the Pre-Feasibility and Scoping Study Report or 2017 PFS )
3. The 2017 PFS considered a conventional drill and blast, load and haul open-pit mining operation based on mining open-pit Reserves of 1.362Mt at 2.22g/t Au for a total 87.66koz gold recovered over 4 years, based on a gold price of US$1,250/oz. The scoping study considered a transition from open-pit mining to underground mining.