Business
Carlyle Commodities Completes Updated NI 43-101 Resource Calculation of Its 100% Owned Newton Project in BC
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZA) (OTC Pink: DLRYF) ("Carlyle" or the "Company")
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 14, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZA) (OTC Pink: DLRYF) (\"Carlyle\" or the \"Company\") is pleased to announce that it has completed an updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") pit constrained inferred mineral resource calculation (the \"Newton Resource Calculation\") on its 100% owned Newton Project located in the Clinton Mining Division of the Province of British Columbia (the \"Newton Project\") held through its wholly-owned subsidiary Isaac Newton Mining Corp. To complete the Updated Newton Resource Calculation, an updated pit-constrained resource estimation, the Company engaged RockRidge Consulting (\"RockRidge\"). RockRidge is located in Maple Ridge, British Columbia, Canada and consults in Canada, USA, Africa, Asia, Oceania and Europe. The RockRidge team has a broad range of geological experience, knowledge, expertise and completes or assists in projects ranging from early-stage exploration through to development and operations. The Updated Newton Resource Calculation utilizes optimized pit shell constraints to fulfil the requirement for \"reasonable prospects for eventual economic extraction.\" The inferred mineral resource estimate respectively contains 861,400 t. oz of Au, and 4,678,000 t. oz of Ag with an average grade of 0.63 g/t Au, a cut-off of 0.25 g/t Au throughout 42,396,600 tonnes. The inferred mineral resource estimate is summarized below. Resource in Optimized Pit (Inferred) Grade Metal Content Cut Off Mass Au Ag AuEQ³ Au Ag Au t (g/t) (g/t) (g/t) (t. oz) (t. oz) 0.25 42,396,600 0.63 3.43 0.68 861,400 4,678,000 Notes CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 2019) were used for mineral resource estimation. Recovery factors used are 92% for Au and 45% for Ag. Morgan Good, President and Chief Executive Officer of Carlyle, commented: \"The Carlyle team is very pleased with the outcome of this new inferred resource estimate which has increased the average grade to 0.63 g/t Au with a cut-off of 0.25 g/t Au, providing 861,400 oz of gold. These types of figures are encouraging in this market and provide a positive path forward for Carlyle to...