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Gespeg Copper Resources to Start Work in Montauban Mine
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES SASKATOON, Saskatchewan, June 19, 2018 (GLOBE NEWSWIR
About this update from 1844 Resources Inc
[{"type":"text","content":" THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES SASKATOON, Saskatchewan, June 19, 2018 (GLOBE NEWSWIRE) -- GESPEG COPPER RESOURCES INC. (TSX-V:GCR) (the “Company” or “Gespeg”) is pleased to announce to its investors and the population of the Mauricie the obtaining of its certificate of authorization issued by Ministry of Energy and Natural Resources to begin the evaluation and calculation of resources according to NI 43-101 on the tailings pond of the former Montauban-les-Mines mine. Three tailings sites will be assessed: Anacon Lead 2, Tétrault 1 and Tétrault 2 (Figure 1). The work will begin June 18 and will be executed by Forage André Roy. The equipment used, a Geoprobe type drill, will allow the drilling of 123 holes, totaling more than 365 meters. In addition to the economic interest of the project, Gespeg and its partners are committed to developing a project with a strong social acceptability and an objective to decontaminate the tailings facilities by restoring a quality of life and a healthy environment to the villagers of Montauban-les-Mines. In 2014, a NI-43-101 technical report, commissioned by DNA Canada (a Gespeg partner) and performed on the Anacon Lead 1 Tailings Facility, reported indicated resources of 462,000 tonnes grading 0.31 g / t Au (4570 ounces of gold) and 32.68 g / t Ag (485.630 ounces of silver). The Salvage Metals Value (VMR) is $ 31 tonne using a gold price of $ 1,300 / oz, a silver price of $ 20 / oz, a CAD / US exchange rate of 1.10 and all with an operating cost of about $ 20 per tonne. As a result, the entire Anacon Lead 1 Tailings Facility is worth more than the expected operating costs. This estimate of mineral resources was made by Vincent Jourdain ing. PH. D. The result of this study is an estimate of mineral resources including indicated resources. These mineral resources are not mineral reserves since their economic viability has not been demonstrated. It is also important to note the presence of two other Certificates of Authorization of the Government of Quebec held by DNA Canada that enabled them to build tailings facilities at the Anacon Lead 1 to recover the mica and precious metals (gold and silver). In addition, in February 2014, DNA Canada received approval from the provincial government for the restoratio...