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Golden Dory Reports First Resource Estimate at Huxter Lane Option
Golden Dory Reports First Resource Estimate at Huxter Lane Option
About this update from Kinross Gold Corporation
[{"type":"text","content":"\nGolden Dory Reports First Resource Estimate at Huxter Lane Option\n\n\n Mar. 4, 2010 (TheNewswire.ca) -- GANDER, NEWFOUNDLAND - March 4, 2010 - Golden Dory Resources Corp. (TSXV:GDR)(\"Golden Dory\") - (GDR - TSX.V) is pleased to announce the results of the first NI 43-101 compliant resource estimate on the Huxter Lane Option, part of the Company's Huxter Lane -Brady Project in central Newfoundland. The Huxter Lane property is under an option agreement with Paragon Minerals Corporation (OOTC:PAONF) (TSXV:PGR) (TSX.V-PGR) whereby Golden Dory can earn up to a 70% interest in the property.The resource estimate, prepared by Giroux Consultants, concludes that the Mosquito Hill zone contains an indicated resource of 4.47 million tonnes averaging 0.526 g/t Au for 75,600 ounces gold, and an inferred resource of 32.9 million tonnes averaging 0.461 g/t Au for 488,800 ounces gold at a cutoff of 0.30 grams per tonne gold. To date no economic assessment or scoping study of the Mosquito Hill Zone has been performed, therefore a range of cutoff values have been provided.Highlights\n.Resources estimated at a 0.30g/t Au cutoff: 75,600 ounces indicated and 488,800 ounces inferred .Deposit remains open to depth and along strike with near surface open pit potential .Deposit modeling identifies high grade corridor in center of deposit with little previous drilling The Mosquito Hill Deposit is a large, potentially open pit mineable, intrusion hosted system that has been tested by only 46 holes over a strike length of 900 metres, a width of 500 metres, with over 90% of the current resource lying at depths shallower than 200 meters. The deposit is exposed along its northern edge, dips very gently to the southwest at about 10 degrees (nearly flat lying) and at the western limits of the current resource, the deposit is nearly 500 meters in width and wide open for expansion. The property has road access and is proximal to key infrastructure, power and labour.Huxter Lane - Mosquito Hill Zone - Indicated Resource Within The Mineralized Solid\nAu Cut-off(g/t Au) Tonnes > Cut-off Grade > Cut-off(g/t Au) Contained Ounces Au \n0.10 7,880,000 0.393 99,600 \n0.20 6,800,000 0.431 94,200 \n0.30 4,470,000 0.526 75,600 \n0.40 2,470,000 0.670 53,200 \nHuxter Lane - Mosquito Hill Zone - Inferred Resource Within The Mineralized Solid\nAu Cut-of...