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NewWest Gold Corporation Receives its First NI 43-101 Compliant Resource Estimate for Sandman Project
NewWest Gold Corporation Receives its First NI 43-101 Compliant Resource Estimate for Sandman Project.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nBrings Total NI 43-101 Compliant Measured and Indicated Resources to\n\n\n1.8 Million Contained Gold Equivalent Ounces\n\n\nLAKEWOOD, CO, May 9 /CNW/ - NewWest Gold Corporation (TSX:NWG)\n("NewWest"), today announced an 18% increase in its NI 43-101 compliant\nmeasured and indicated contained gold resources, bringing the total contained\ngold equivalent ounces attributable to NewWest's Northumberland, Zaca and\nSandman projects to approximately 1.8 million ounces. In addition, NewWest has\n239,000 contained gold equivalent ounces of inferred resources for those\nprojects. Gold equivalent is calculated at a gold-silver ratio of 67:1. For a\ndetailed resource table, please see the table attached at the end of this\nrelease or refer to the Gold Resources page of NewWest's website at\nwww.newwestgold.com.\n\n\nNewWest made the announcement after confirming its first National\nInstrument 43-101 (NI 43-101) compliant resource estimate at its entirely\nowned Sandman Project (Sandman) in Humboldt County, Nevada. This is the first\nNI 43-101 compliant resource estimate for Sandman and incorporates results\nfrom NewWest's 2006 Sandman exploration drilling program. NewWest expects to\nfile its NI 43-101 technical report within 45 days from the date of this news\nrelease.\n\n\nThe initial Sandman resource consists of measured and indicated resources\nof 271,900 contained gold ounces and an additional inferred resource of 38,000\ncontained gold ounces (based on a 0.010 oz Au/ton cut-off for all of the\nshallow deposits and a 0.020 oz Au/ton cutoff for the deeper zones at the\nSoutheast Pediment deposit).\n\n\nThe NI 43-101 resource estimate at Sandman is comprised of resources from\nfour deposits: Abel Knoll, North Hill, Silica Ridge, and Southeast Pediment.\nAs previously reported, drilling at all four deposits has encountered\nhigh-grade mineralization.\n\n\n"This initial resource estimate for Sandman sets the stage for our 2007\nprogram to expand the resources at the four deposits, all of which remain\nopen, and to continue testing identified targets, some of which already\ncontain drilled mineralization," said Stephen Alfers, President and Chief\nExecutive Officer. "The Abel Knoll deposit discovered in 2006 illustrates the\npotential to discover new deposits through additional exploration that will\nadd o...