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MOSQUITO FILES CUMO NI 43-101, ANNOUNCES 1.89 BILLION TONS INDICATED,2.91 BILLION TONS INFERRED OF HIGHER-GRADE MULTI-ELEMENT MINERALIZATION
MOSQUITO FILES CUMO NI 43-101, ANNOUNCES 1.89 BILLION TONS INDICATED,2.91 BILLION TONS INFERRED OF HIGHER-GRADE MULTI-ELEMENT MINERALIZATION.
About this update from Multi-metal Dev Ltd.
[{"type":"text","content":"Vancouver, June 14, 2010 – Mosquito Consolidated Gold Mines Limited (Mosquito – TSX Venture: MSQ) is pleased to report receipt of the completed National Instrument 43-101 technical report, prepared by Snowden Mining Industry Consultants (Snowden), an independent, internationally recognized mineral industry consultant, on its Idaho-based CUMO molybdenum-copper project and its filing with SEDAR (www.sedar.com). The Company is also pleased to announce that detailed examination of the NI43-101 report and of individual blocks comprising the Mineral Resource estimated by Snowden, has shown that the CUMO project contains an estimated 1.89 billion tons Indicated Resource and 2.91 billion tons Inferred Resource of higher-grade open-pit accessible multi-element resources at a $5 RCV. Details of the estimation can be found in Snowden’s NI43-101 report. Two scenarios are presented based on different low (waste), medium(stockpile) and high cutoff grades. Actual mine cutoff grade depends on the production rate, examination of existing mines and recent feasibility studies indicate that for production rates of less than 100,000 tons per day, a $7.50 Gross Recoverable Value (RCV) cutoff is reasonable, while for production rates greater than 100,000 tons per day, a $5 RCV cutoff is reasonable. Material between the $2.50 global resource cutoff (announced April 27,2011, press release) and the waste cutoff ($7.50 or $5.00 RCV) is considered waste under these scenario's, however this material would be reconsidered based on prevailing metal prices at the time of potential extraction. Examination of Snowden's tables shows the following:At $5.00 low cutoff and a $20 high cutoff the Mineral Resource reported using the guidelines of the CIM are reported below. Indicated Mineral ResourceCutoff Grade > CutoffContained MetalRecov.Recov. LbsRCVmillionsMoS2 Cu AgW MillionMillionMillionMillionMillionCuMoO3$US(tons)(%)(%)(g/t)(ppm) lbs. Molbs MoO3lbs Cuoz Aglbs WEquivEquiv<5*158.600.0060.051.7615.2012.017.9144.38.24.80.080.205-201,012.510.0350.092.6734.70428.9643.31821.478.770.30.310.73>=20881.20.0940.082.1547.37988.51482.71325.755.183.50.681.60 Inferred Mineral ResourceCutoff Grade > CutoffContained MetalRecov.Recov. LbsRCVmillionsMoS2 ...