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Benz Mining enters agreement to acquire the Eastmain Gold Mine Project from Eastmain Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2019) - Benz Mining Corp. (TSXV: BZ)...
About this update from Benz Mining Corp.
[{"type":"text","content":"Benz Mining enters agreement to acquire the Eastmain Gold Mine Project from Eastmain Resources Inc.Vancouver, British Columbia--(Newsfile Corp. - August 9, 2019) - Benz Mining Corp. (TSXV: BZ) (the \"Company\" or \"Benz\") is pleased to announce that it has entered into an option agreement (the \"Option Agreement\") with Eastmain Resources Inc. (the \"Vendor\" or \"Eastmain Resources\"), to acquire a 100% interest in the former producing Eastmain Gold project (the \"Project\") located in James Bay District, Quebec for CAD $5,000,000. The Project consists of various mineral claims and project rights, as defined in the Option Agreement. Historical Mineral Resource EstimateAccording to a NI43-101 technical report dated effective January 9, 2018 by Antoine Yassa, P.Geo., and Eugene Puritch, P.Eng, FEC, CET of P&E Mining Consultants Inc. for the Vendor, the former producing Eastmain Gold Mine project hosts the following historical resource estimate:.Indicated resources of 899kt at a grade of 8.19 g/t gold, 8 g/t silver and 0.13% copper (236.5 koz contained gold), and Inferred resources of 579kt at a grade of 7.48 g/t gold, 8.2 g/t silver and 0.16% copper(139.3 koz contained gold).The technical report, completed for Eastmain Resources on February 23, 2018. is available on SEDAR under the Eastmain Resources' profile. While the Company believes that the foregoing mineral resource estimate is reliable, the Company has not yet commenced work on the Project to assess the relevance and reliability of the mineral resource estimate. As a result, the Company considers the prior mineral resource estimate to be a historical estimate for purposes of NI 43-101. The Company plans to assess the historical estimate as it commences work on the Project to determine whether it can be verified as a current mineral resource estimate under NI 43-101. However, at this time a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource on behalf of the Company. The Company is not treating the historical estimate as a current mineral resource. Readers should be cautioned that there is no guarantee that the foregoing historical resource estimate will be verified or confirmed in accordance with the requirements of NI 43-101.Furthermore, to the extent that the historical estimate is reliable, readers should ...