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Hochschild Exercises Option Over Snip Gold Project
Hochschild Exercises Option Over Snip Gold Project.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1725P\n Hochschild Mining PLC\n 15 October 2021\n \n \n \n \n \n \n \n \n \n \n \n _____________________________________________________________________________________\n \n \n 15 October 2021 \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/1725P_1-2021-10-14.pdf\n \n \n \n \n \n \n Hochschild Exercises Option Over Skeena Resources' Snip Gold Project\n \n \n \n \n \n Hochschild Mining PLC (\"Hochschild\" or \"the Company\") (LSE: HOC) (OTCQX: HCHDF) is pleased to announce that it has exercised its option to start earning in to a 60% interest in the Snip gold project (\"Snip\", the \"project\" or \"property\") located in the Golden Triangle and in Tahltan Territory, British Columbia, Canada, and held by Skeena Resources Limited (\"Skeena\") (TSX: SKE, OTCQX: SKREF).\n \n \n \n \n \n Ignacio Bustamante, Chief Executive Officer said:\n \n \n \"We are pleased to exercise our option on the Snip project in Tahltan Territory, Canada. This represents a first step in our strategy to add another high-grade project with strong upside potential into our pipeline. We look forward to working with Skeena and building on their strong relationship with the Tahltan Nation.\"\n \n \n \n \n \n Project description\n \n \n Snip, which was acquired by Skeena from Barrick Gold Corp. (\"Barrick\") in July 2017, consists of one mining lease and eight mineral claims totalling approximately 4,546 hectares in the Liard Mining Division and is situated in Tahltan Territory. The former Snip mine produced approximately one million ounces of gold from 1991 until 1999 at an average gold grade of 27.5 g/t. Since then, the project has been improved with the recent construction of nearby infrastructure (paved highway, hydro-electric facilities and ocean port facilities) and substantially higher gold prices.\n \n \n \n \n \n Underground drilling recommenced in late 2017 to explore for additional mineralised shoots in a large shear structure. A maiden mineral resource was announced in July 2020 including 244,000 ounces of gold in the indicated category at an average grade of 14.0 g/t and 402,000 ounces of gold in the inferred category at an average grade of 13.3 g/t. A Technical Report was issued in September 2020. \n \n \n \n \n \n Subsequent drill...