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Rosita Mining Increases Stockpile Resources at Santa Rita Project In Nicaragua
(via Thenewswire.ca) Strategic Focus on Near-Term Production Planning Toronto, ...
About this update from King Global Ventures Inc.
[{"type":"text","content":"Rosita Mining Increases Stockpile Resources at Santa Rita Project In Nicaragua(via Thenewswire.ca)\n \n \nStrategic Focus on Near-Term Production Planning\n\n \n \nToronto, Ontario / TheNewswire / February 8, 2016: Rosita Mining Corporation (RST: TSX-V) (\"Rosita\" or the \"Company\") is pleased to announce the results of an updated National Instrument 43-101 (\"NI 43-101\") indicated and inferred resource estimate for its 65%-owned Rosita gold-copper project in northeastern Nicaragua. \n\n \n \nHighlights:\n\n \n \n\n\n-Stockpile resources upgraded to Indicated category \n\n\n\n-Total gold and copper resources increased from the 2012 estimate by 24% and 8% respectively\n\n\n\n-Maiden tailings resources estimated which provide additional resources to the project\n\n\n\n-Metallurgical optimization and permitting process commencing in first quarter of 2016 \n\n\n\n \n \nThe resource estimate in stockpiles totals 70.9 million lbs. of copper and 96,660 oz. of gold and 46.2 million lbs. of copper and 50,330 oz. of gold in the Indicated and Inferred categories respectively. Indicated resources total 6.46 million tonnes grading 0.47 grams gold per tonne and 0.5% copper per tonne whilst Inferred resources total 3.44 million tonnes grading 0.46 grams gold per tonne and 0.61% copper per tonne in a series of stockpiles located near the former producing Santa Rita gold-copper open pit mine. These estimates have been based on a US$10 net smelter return (\"NSR\") cut off. \n\n \n \nIn addition, the Company is also reporting maiden Inferred resources of 1.96 million tonnes grading 0.56 grams gold per tonne at cut-off of 0.3 g/t gold in tailings located proximal to the Santa Rita stockpiles. \n\n \n \n\"We are pleased with the results of the updated 43-101 study and plan to focus on advancing the project towards a production decision stage later this year,\" John Cook, President and CEO said. \"The Santa Rita stockpiles represent a significant gold and copper resource that Rosita intends to advance over the ensuing year,\" Cook added. \n\n \n \nThe results of these resource estimates, which are summarized in Table 1 below, were prepared by Yungang Wu., P. Geo., an independent Qualified Person as defined by NI 43-101. \n\n \n \nTable 1 - Indicated and Inferred Mineral Resource Estimate, Santa Rita Stockpiles\n\n \n\nStockpiles\n\n\n\n\nClass\n\n...