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Significant Resource Expansion Announced at AurMac Gold Project, Yukon
CRANBROOK, BC / ACCESSWIRE / June 1, 2023 / Eagle Royalties Ltd. ("Eagle Royalties") (CSE:ER.CN...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Significant Resource Expansion Announced at AurMac Gold Project, YukonCRANBROOK, BC / ACCESSWIRE / June 1, 2023 / Eagle Royalties Ltd. (\"Eagle Royalties\") (CSE:ER.CN) has learned of a significant increase in an inferred resource at the AurMac Project in central Yukon from public announcements made recently by Banyan Gold Corp. Eagle Royalties owns royalty interests ranging from 0.5% to 2.0% on certain claims which comprise a portion of the AurMac Project.As announced in a news release dated May 24th, 2023, Banyan reported \"an updated Mineral Resource Estimate (the \"MRE\" or the \"Mineral Resource\") prepared in accordance with National Instrument 43-101, Standards for Disclosure for Mineral Projects (\"NI 43-101\") for the Aurex ‎and McQuesten properties (together, the \"AurMac Property\")‎ ‎located in the Mayo Mining ‎District, approximately 56 kilometres (\"km\") northeast from the village of Mayo, Yukon, and 356 ‎km north of Whitehorse, Yukon. ‎The updated MRE comprises a total Inferred Mineral Resource (as defined in the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) of 6.2 million ‎ounces of gold on the near-surface, road accessible AurMac Property\". Additional information is expected to be included in a NI 43-101 Technical Report to be filed on SEDAR with 45 days of the May 24th announcement.Table 1Constrained Inferred Mineral Resources - AurMac PropertyDepositGold Cut-Off (g/t)TonnageAverage Gold Grade (g/t)Contained Gold (koz)(Mt)Airstrip0.2541.20.68897Powerline0.25197.40.613,840Aurex Hill0.374.30.61,444Total Combined0.25 to 0.3312.90.616,181The effective date for the Mineral Resource is May 18, 2023. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues. The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature ‎and there has been insufficient exploration to d...