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Treasury Metals Announces Updated Resource Estimate at Goliath Gold Project: "Measured" and "Indicated" Resources Totals 1,165,800 Gold and Gold Equivalent Silver Ounces (AuEq)
TSX:TML TORONTO , Aug. 28, 2015 /CNW/ - Treasury Metals Inc. ("Treasury" or the "Com...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\nTSX:TML \n\n\n\nTORONTO, Aug. 28, 2015 /CNW/ - Treasury Metals Inc. (\"Treasury\" or the \"Company\") (TSX:TML) is pleased to provide an updated National Instrument 43-101 Mineral Resource Estimate (the \"2015 Resource Estimate\") on its 100% owned Goliath Gold Project located 20 kilometres east of Dryden, Ontario. The Resource Estimate was completed by independent consultant, P&E Mining Consultants Inc. (\"P&E\").\n\nThe \"2015 Resource Estimate\" is an update to the NI 43-101 Resource Estimate previously released on November 9, 2011 (the \"2011 Resource Estimate\") and includes results from a database representing an additional 173 diamond drill holes and 29 old re-entered drill holes totaling 50,048 m that were completed between 2012 and 2015. \n\nHighlights include:\n\n\nOpen Pit and Underground 2015  Resource Estimate: \n\nMeasured:              90,300 ounces AuEq (1.12 Mt at 2.51g/tonne AuEq);\nIndicated:          1,075,500 ounces AuEq (19.44 Mt at 1.72 g/tonne AuEq);\nInferred:              341,300 ounces AuEq (3.47 Mt at 3.06 g/tonne AuEq).\nNew \"Measured\" Resources identified totalling 90,300 ounces AuEq (Open Pit and Underground).\nTotal \"Measured\" and \"Indicated\" Mineral Resources now totals 1,165,800 ounces AuEq (20.56 Mt at 1.76 g/t AuEq), an increase of 44% from the 2011 Resource Estimate. \nOpen Pit Resources increased from 348,000 \"Indicated\" ounces AuEq in 2011 to a combined \"Measured\" and \"Indicated\" Resource of 775,600 ounces AuEq in 2015 that more than doubles the near surface gold Resources.\nThe combined \"Measured\" and \"Indicated\" underground gold resource totals 2,367,000 tonnes and grades 5.13 g/t AuEq for a total of 390,100 AuEq ounces.\nGold Resources at Goliath remain open at depth and along strike.\n\n\"We are very pleased with the conversion of ounces into the \"Measured\" and \"Indicated\" categories with this resource as the basis of our upcoming Feasibility Study.  These results show the strength of the deposit as we continue down the development path towards our goal of mine operation,\" said Mr. Martin Walter, President and Chief Executive Officer, Treasury Metals.\n\nResources were defined using...