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Kinross Gold Announces Robust Initial Mineral Resource of 2.7 Moz. Indicated and 2.3 Moz. Inferred for Great Bear Project
(This news release contains forward-looking information about expected future events and financial and operating performance of the Company. We refer to the
About this update from Kinross Gold Corporation
[{"type":"text","content":" (This news release contains forward-looking information about expected future events and financial and operating performance of the Company. We refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page 12 of this release.) TORONTO, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross” or the “Company”) is pleased to announce an initial mineral resource estimate for its 100% owned Great Bear project located in Ontario, Canada. The initial mineral resource estimate consists of 2.737 Moz. of indicated resources and 2.290 Moz. of inferred resources. The Company’s initial open pit and underground mineral resource estimate is set out in the table below. Table 1: Mineral resource estimate1 Tonnes (000’s) Grade (Au g/t) Ounces (000’s) Indicated Open Pit 33,110 2.57 2,737 Inferred Open Pit 8,400 2.24 606 Inferred Underground 11,636 4.50 1,684 Total Inferred 20,037 3.56 2,290 Additionally, the majority of the resource is contained in a high-grade core illustrated in the table below, which is a subset of the resource with cut-off grades increased to 0.9 g/t in the open pit and 3.5 g/t in the underground. Kinross plans to target this higher-grade mineralization in the early years of potential production. Table 2: Sensitivity table with elevated cut-off grades (see technical report for detailed sensitivity tables)2 Tonnes (000’s) Grade (Au g/t) Ounces (000’s) Indicated Open Pit 21,686 3.57 2,491 Inferred Open Pit 5,076 3.28 536 Inferred Underground 5,989 6.07 1,169 Total Inferred 11,065 4.79 1,705 Kinross’ focus for 2022 was drilling the first ~500 metres at the LP Fault zone to increase confidence in the upper portion of the deposit and facilitate the delivery of the initial mineral resource. The Company drilled over 250 kilometres in 2022, including 225 kilometres of diamond exploration drilling. Combined with the drilling completed by Great Bear since 2018, a total of over 550 kilometres of drilling has now been completed on the property. The results continue to support Kinross’ view that the LP Fault zone is expected to host a long-life, high-gra...