Business
Newpath Resources Provides Update on Its Northshore Gold Resource
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC Pink: RDYFF) ("Newpath" or the "Company") is
About this update from Newpath Resources Inc
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC Pink: RDYFF) (\"Newpath\" or the \"Company\") is pleased to update shareholders on our plans for our Northshore Gold Project (\"Northshore\" or \"Project\") located in the Schreiber-Hemlo Greenstone Belt. In October of 2022, the Company released an updated Mineral Resource Estimate (MRE) for North Shore (See October 25, 2022 News Release). The updated MRE outlined a pit constrained inferred mineral resource containing 240,100 of gold contained in 6,511,000 tonnes at an average grade of 1.15 grams per tonne (g/t) Au. The MRE assumes a recovery of 95% based on preliminary cyanide bottle roll testwork that returned >96% recovery. Northshore Mineral Resource Statement as at August 31, 2022 Tonnes Grade (g/t Au) Cut off Grade (g/t Au) Total Ounces Category 6,511,340 1.15 0.40 240,075 Inferred* The mineral resources have been classified according to the Canadian Institute of Mining (CIM) Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (2019). Resource estimate was conducted by Mr. David Briggs of RockRidge Partnership and Associates under the supervision of APEX Geoscience Ltd. of Edmonton, Alberta with an effective date of August 31, 2022 and is supported by a technical report \"NI 43-101 TECHNICAL REPORT, MINERAL RESOURCE ESTIMATE UPDATE on the NORTHSHORE GOLD PROPERTY in Thunder Bay Mining Division Priske Township, Ontario, Canada\", located under the Company's profile on SEDAR.com. The reported resource has been constrained within a US$1,750/oz gold optimized pit shell. The Mineral Resource cut-off grade of 0.4 g/t Au was chosen to capture mineralization that is potentially amenable to open pit mining. The reported resources occur in bodies of sufficient size and continuity to meet the requirement of having reasonable prospects for eventual economic extraction. *Inferred Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the I...