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New NI 43-101 Resource Estimate significantly increases CuMo Deposit with substantial increases in Silver and Copper
New NI 43-101 Resource Estimate significantly increases CuMo Deposit with substantial increases in Silver and Copper.
About this update from Multi-metal Dev Ltd.
[{"type":"text","content":"MOSQUITO CONSOLIDATED GOLD MINES LTD.MSQ-TSX-VENTURETel: 604-689-7902 WWW.MOSQUITOGOLD .COM FAX: 604-689-7816 New NI 43-101 Resource Estimate significantly increases CuMo Deposit with substantial increases in Silver and Copper Vancouver, Canada, April 27, 2011. – Mosquito Consolidated Gold Mines Limited (TSX.V: MSQ; US OTCQX: MQCMF – “Mosquito” or the “Company”) is pleased to announce that Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo, Exploration Manager and Director of Mosquito and Mosquito’s qualified person under National Instrument 43-101 has reported the results of a new 43-101 compliant independent mineral resource estimate for Mosquito’s CuMo porphyry molybdenum-copper-silver deposit located in Idaho. Snowden Mining Industry Consultants (Snowden), an independent, internationally recognized mineral industry consultant, completed the estimate. The results represent a significant addition to the 2009 resource estimate, most notably substantial increases to the silver and copper estimates, and cover only approximately 60% of the mineralizing system’s footprint identified to date. The results confirm that CuMo is the largest unmined open pit molybdenum deposit in the world, and also one of the world’s largest silver deposits, ranking behind the Navidad and the Pitarrilla silver projects. The NI 43-101 compliant calculation confirms that the CUMO deposit contains, at a $2.50 cutoff:TABLE 1IndicatedInferredMetal2.142.34billion pounds of molybdenum oxide(MoO3), 3.275.55billion pounds of copper (Cu), 140.7242.5million ounces of silver (Ag) and 158.290.9million pounds of tungsten(W) 2.033.95billion tons within an Indicated and Inferred Mineral Resource. (See notes for reason for using this cutoff) This represents the following increases over previous resource estimates (Giroux 2009): 65.3% increase in ounces of Si...