Business
ML Gold Releases Maiden N.I. 43-101 Inferred Resource Estimate for Palmetto Gold Project
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2017) - ML Gold Corp. (TSXV: MLG) (FSE: X0VN) ("ML Gold" or the "Company") is pleased to announce a ma
About this update from M3 Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - October 2, 2017) - ML Gold Corp. (TSXV: MLG) (FSE: X0VN) (\"ML Gold\" or the \"Company\") is pleased to announce a maiden National Instrument 43-101 (\"NI 43-101\") Inferred Resource Estimate for the 100% owned Palmetto Epithermal Gold Project in Nevada of 10.1 million tonnes grading 0.95 g/t Au, and 7.29 g/t Ag (1.05 g/t AuEq) containing 310,000 ounces of gold, and 2.4 million ounces of silver for a total of 342,000 AuEq ounces in a pit constrained shell. Beneath the pit constrained resource, there is an initial underground inferred resource, completely open to depth and along strike, at 3.6 g/t Au and 10.8 g/t Ag (3.74 g/t AuEq) for an additional 11,753 AuEq ounces, giving a total maiden inferred resource of 353,435 AuEq ounces. The NI 43-101 Technical Report prepared by WSP Canada Inc. (\"WSP\") will be filed on SEDAR within 45 days of this release. Table 1 - Palmetto Constrained Resource Statement with cut-off @ 0.14 g/t AuEq for Pit and 2g/t AuEq for Underground (U/G) Classification Tonnes(000s) Aug/t Agg/t AuEqg/t Auoz Agoz. AuEqoz. Inferred (Pit) 10,134 0.95 7.29 1.05 310,360 2,374,120 341,720 Inferred (U/G) 98 3.6 10.8 3.74 11,305 33,910 11,755 Total Inferred 321,665 2,408,030 353,475 Figure 1 (below) shows the current extent of drilling and Figure 2 shows a cross section through the eastern end of the resource area. Figure 3 highlights several additional mineralized zones hosting significant grades within close proximity to both the Discovery and Northwest Zones. These zones have yet to be included in the resource estimate due to drilling density. The pit shell was generated by applying certain economic constraints, now required under NI 43-101 disclosure on inferred resource estimates. ML Gold sees these areas having immediate potential to significantly increase the overall resource on the Palmetto Gold Project by increasing the drilling density between mineralized shells (see Figure 3). Evidence suggests that there is significant potential to expand the resource in multiple directions. The Company is currently permitting a phase two program designed to expand on and discover new areas surrounding the mineralized shells used for the resource (Tables 1 and 2). Outside of the immediate resource area, potential remains to discovery new zones along ...